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


OCTOBER REFLECTS YEAR-LONG TREND

 

According to the Maryland Association of REALTORS®, (MAR), the beginning of the fourth quarter of 2015 mirrored the three previous quarters, with increased sales and price stabilization. Home sales rose by 12.9 percent or over 8,000 units, year-over-year. Only three of the 24 counties, Allegany, Caroline and Somerset, posted declines in home sales. As in past months, average and median remained flat with a decrease in average price of 2.9 percent and an increase in median prices of less than 1 percent since October of 2014.

 

“The beginning of the fourth quarter further confirms the stabilization of market conditions in Maryland,” said MAR President Bonnie Casper.  Casper went on to add, “The increase in pending units remains healthy in comparison to the same time last year.” She also noted that two areas of concern are the slight decline in active inventory and the months of inventory---both critical to maintaining an active real estate market.

 

 

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 22,000 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: October 2015

 

Oct-15 Units Average Price Median Price Pending Units Active Inventory Months of Inventory
2015 2014 % Chg 2015 2014 % Chg 2015 2014 % Chg 2015 2014 2015 2014 2015 2014
Allegany 30 39 -23.1% $113,873 $104,072 9.4% $97,500 $79,772 22.2% 49 42 573 583 19.1 14.9
Anne Arundel 661 573 15.4% $365,228 $366,812 -0.4% $301,900 $295,000 2.3% 813 681 3209 3334 4.9 5.8
Baltimore City 613 578 6.1% $148,884 $152,039 -2.1% $105,000 $99,825 5.2% 826 785 3621 3566 5.9 6.2
Baltimore County 847 729 16.2% $248,872 $255,625 -2.6% $214,900 $212,000 1.4% 1013 873 3483 3522 4.1 4.8
Calvert 120 106 13.2% $293,812 $325,130 -9.6% $272,500 $273,398 -0.3% 163 103 814 827 6.8 7.8
Caroline 27 31 -12.9% $174,077 $117,790 47.8% $160,000 $105,500 51.7% 34 34 298 318 11.0 10.3
Carroll 181 149 21.5% $309,963 $286,870 8.0% $287,500 $285,000 0.9% 195 172 962 1028 5.3 6.9
Cecil 110 82 34.1% $209,368 $223,000 -6.1% $202,500 $193,500 4.7% 121 105 815 896 7.4 10.9
Charles 202 162 24.7% $267,477 $254,133 5.3% $250,750 $229,900 9.1% 261 216 931 901 4.6 5.6
Dorchester 39 25 56.0% $166,529 $152,996 8.8% $100,000 $125,000 -20.0% 42 46 356 353 9.1 14.1
Frederick 319 282 13.1% $284,160 $290,859 -2.3% $265,000 $261,500 1.3% 341 308 1386 1259 4.3 4.5
Garrett 46 38 21.1% $310,965 $332,168 -6.4% $214,250 $255,500 -16.1% 37 46 561 618 12.2 16.3
Harford 344 251 37.1% $255,240 $245,276 4.1% $231,100 $225,000 2.7% 380 281 1406 1523 4.1 6.1
Howard 319 282 13.1% $425,706 $422,313 0.8% $387,000 $400,000 -3.3% 368 321 1280 1320 4.0 4.7
Kent 27 27 0.0% $227,169 $507,138 -55.2% $163,000 $387,000 -57.9% 25 26 367 398 13.6 14.7
Montgomery 935 888 5.3% $463,643 $488,018 -5.0% $389,000 $387,310 0.4% 1125 1062 3432 3344 3.7 3.8
Prince George's 768 687 11.8% $253,175 $246,667 2.6% $240,000 $235,000 2.1% 1141 999 2160 1991 2.8 2.9
Queen Anne's 67 62 8.1% $319,527 $367,522 -13.1% $291,000 $270,000 7.8% 88 69 634 663 9.5 10.7
Somerset 13 17 -23.5% $106,731 $70,603 51.2% $115,000 $31,900 260.5% 23 15 260 266 20.0 15.6
St. Mary's 129 129 0.0% $244,691 $299,864 -18.4% $239,000 $286,000 -16.4% 117 103 772 769 6.0 6.0
Talbot 71 65 9.2% $512,612 $541,371 -5.3% $315,000 $275,000 14.5% 68 48 570 595 8.0 9.2
Washington 148 147 0.7% $162,557 $171,408 -5.2% $148,000 $162,000 -8.6% 168 150 939 960 6.3 6.5
Wicomico 104 83 25.3% $159,724 $165,397 -3.4% $140,700 $150,000 -6.2% 97 76 630 623 6.1 7.5
Worcester 213 176 21.0% $239,791 $237,778 0.8% $215,000 $207,000 3.9% 200 157 1685 1919 7.9 10.9
MARYLAND     6,333     5,608 12.9% $298,699 $307,533 -2.9% $258,811 $257,639 0.5%     7,695     6,718     31,144     31,576 4.9 5.6
Reported by the MRIS and Coastal Association of REALTORS       NOTE: UNITS ARE THE "UNITS" SOLD, PENDING ARE UNDER CONTRACT

 

 

 

 

###