PRESS RELEASE
For more information: 800-638-6425 • Fax: 443-716-3511 • www.mdrealtor.org



IMMEDIATE RELEASE
Contact: Melissa Lutz
Maryland Association of REALTORS®
800-638-6425
melissa.lutz@mdrealtor.org


STEADY MARKET CONTINUES IN MAY 2016

 

Home sales remain strong with a 15.6 percent increase statewide from May 2015, according to the Maryland Association of REALTORS®, (MAR).  Average and median prices grew by 1.7 and 2.6 percent respectively as compared to the same period in 2015. Areas of the state with fewer transactions show more dramatic results, but overall the trend is quite positive. For example, Talbot posted a 40.8 percent decline in May. Conversely, Allegany reported a 21.9 percent increase in average price.

“The hallmark of the 2016 residential market is stability,” said MAR President Bonnie Casper. “Pending units were up by almost 8 percent in May, which certainly indicates continued increased home sales,” added Casper.

Maryland monthly housing statistics are compiled by data as reported by MRIS and the Coastal Association of REALTORS®. For the purposes of this report, “units” are defined as the closed sales and “pending units” are properties under contract. Months of inventory are based on the current active inventory and monthly sales for the corresponding month.
*MAR publishes the Maryland Housing Statistics monthly; it is available through the Association’s website, www.mdrealtor.org.
  
The Maryland Association of REALTORS® is the largest Maryland professional trade association, serving over 26,000 members, and is dedicated to preserving the vitality of the real estate market. REALTOR® is a registered collective membership mark which may only be used by those real estate professionals who subscribe to the REALTOR® organization's strict Code of Ethics, and who are members of the National, State and Local REALTOR® organizations.

Housing Statistics: May 2016

 

May-16 Units Average Price Median Price Pending Units Active Inventory Months of Inventory
2016 2015 % Chg 2016 2015 % Chg 2016 2015 % Chg 2016 2015 2016 2015 2016 2015
Allegany 38 63 -39.7% $96,824 $79,414 21.9% $87,452 $64,000 36.6% 59 64 496 596 13.1 9.5
Anne Arundel 862 712 21.1% $375,929 $357,866 5.0% $320,295 $320,000 0.1% 1012 975 2780 3250 3.2 4.6
Baltimore City 803 719 11.7% $184,614 $175,953 4.9% $155,000 $142,000 9.2% 1030 880 3212 3359 4.0 4.7
Baltimore County 969 873 11.0% $270,858 $266,946 1.5% $230,000 $221,500 3.8% 1251 1203 2972 3294 3.1 3.8
Calvert 143 109 31.2% $298,660 $320,442 -6.8% $275,000 $291,750 -5.7% 184 173 714 867 5.0 8.0
Caroline 47 41 14.6% $198,112 $164,094 20.7% $177,975 $145,000 22.7% 42 47 241 288 5.1 7.0
Carroll 261 203 28.6% $322,473 $306,268 5.3% $314,000 $289,000 8.7% 292 297 904 960 3.5 4.7
Cecil 120 103 16.5% $227,806 $220,523 3.3% $204,000 $199,500 2.3% 158 136 702 837 5.9 8.1
Charles 220 191 15.2% $282,216 $260,660 8.3% $266,620 $255,000 4.6% 315 279 890 948 4.0 5.0
Dorchester 37 29 27.6% $139,318 $232,276 -40.0% $121,663 $95,000 28.1% 52 48 340 372 9.2 12.8
Frederick 423 349 21.2% $293,230 $303,612 -3.4% $270,990 $281,000 -3.6% 513 464 1141 1296 2.7 3.7
Garrett 38 38 0.0% $294,729 $250,361 17.7% $181,450 $205,000 -11.5% 48 43 499 593 13.1 15.6
Harford 377 315 19.7% $267,472 $261,129 2.4% $244,000 $235,000 3.8% 427 421 1239 1491 3.3 4.7
Howard 443 407 8.8% $438,323 $435,955 0.5% $415,000 $399,900 3.8% 593 537 1089 1259 2.5 3.1
Kent 41 19 115.8% $244,062 $247,253 -1.3% $218,500 $201,600 8.4% 30 32 314 381 7.7 20.1
Montgomery 1347 1215 10.9% $514,061 $504,744 1.8% $422,000 $415,000 1.7% 1614 1489 2911 3330 2.2 2.7
Prince George's 913 723 26.3% $260,879 $249,736 4.5% $250,000 $244,000 2.5% 1228 1171 1758 1860 1.9 2.6
Queen Anne's 88 65 35.4% $389,582 $328,052 18.8% $282,400 $300,845 -6.1% 108 113 541 711 6.1 10.9
Somerset 17 22 -22.7% $129,382 $142,361 -9.1% $137,000 $117,500 16.6% 16 14 216 243 12.7 11.0
St. Mary's 142 106 34.0% $281,665 $242,087 16.3% $271,500 $231,250 17.4% 182 141 763 838 5.4 7.9
Talbot 48 55 -12.7% $365,223 $616,719 -40.8% $299,750 $340,000 -11.8% 63 72 566 595 11.8 10.8
Washington 184 132 39.4% $176,008 $185,935 -5.3% $172,000 $163,750 5.0% 219 190 763 933 4.1 7.1
Wicomico 94 99 -5.1% $146,689 $144,201 1.7% $144,000 $139,900 2.9% 119 113 537 628 5.7 6.3
Worcester 213 219 -2.7% $259,257 $261,456 -0.8% $227,500 $227,000 0.2% 228 178 1549 1860 7.3 8.5
   
MARYLAND      7,868      6,807 15.6% $322,253 $316,765 1.7% $282,257 $275,217 2.6%         9,783       9,080        27,137        30,789 3.4 4.5
Reported by the MRIS and Coastal Association of REALTORS       NOTE: UNITS ARE THE "UNITS" SOLD, PENDING ARE UNDER CONTRACT

 

 

 

 

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