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


   HOUSING SALES DECLINE AGAIN IN APRIL

 

Existing home sales declined in April for the third month in a row, according to the Maryland Association of REALTORS® (MAR). Units sold dropped by 4.0 percent, or 200 units, compared to April of 2013.   Prices essentially remained flat, with average prices increasing by only 0.5 percent and median prices dipping slightly by 0.6 percent. 
In individual counties, results were mixed, especially in areas with the greatest population.  In Prince George’s County, average price rose almost 10 percent, and median price rose almost 17 percent, while sales fell by almost 13 percent, and inventory remained low, up only slightly to 2.6 months.  Howard County also posted almost flat sales, with average and median price up 9.9 and 9.1 percent respectively.  Baltimore City sales were up almost 12 percent, while average and median price declined by 3.8 and 6.1 percent respectively.  In Montgomery County, sales fell 11.6 percent, while average price rose by 4.8 percent and median price dropped by less than 1 percent. 
“We had hoped that the affects of the challenging winter weather would have ended with the first quarter of this year,” said MAR President Russ Boyce.  He went on to note that “inventory has increased by more than 3,200 homes and the market is primed for a late spring surge.”

 

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: April 2014

Apr-14 Units
Average Price
Median Price
Pending Units Active Inventory Months of Inventory
2014 2013 % Chg 2014 2013 % Chg 2014 2013 % Chg 2014 2013 2014 2013 2014 2013
Allegany 35 37 -5.4% $79,751 $117,525 -32.1% $60,000 $100,000 -40.0% 54 53 532 520 15.2 14.1
Anne Arundel 530 545 -2.8% $374,775 $369,588 1.4% $307,700 $311,900 -1.3% 846 790 2,800 2,356 5.3 4.3
Baltimore City 574 513 11.9% $159,370 $165,596 -3.8% $119,700 $127,500 -6.1% 828 856 3,185 2,955 5.5 5.8
Baltimore County 596 641 -7.0% $252,430 $251,393 0.4% $212,250 $200,000 6.1% 942 966 2,862 2,467 4.8 3.8
Calvert 88 79 11.4% $306,194 $320,607 -4.5% $261,075 $300,000 -13.0% 142 118 740 631 8.4 8.0
Caroline 33 20 65.0% $153,682 $206,626 -25.6% $145,000 $182,250 -20.4% 42 28 310 256 9.4 12.8
Carroll 130 126 3.2% $273,593 $298,072 -8.2% $263,000 $285,500 -7.9% 223 229 773 722 5.9 5.7
Cecil 62 68 -8.8% $204,024 $202,337 0.8% $185,000 $184,000 0.5% 117 96 844 816 13.6 12.0
Charles 102 129 -20.9% $254,823 $230,359 10.6% $239,450 $224,900 6.5% 221 217 824 668 8.1 5.2
Dorchester 29 24 20.8% $137,773 $183,996 -25.1% $120,000 $140,250 -14.4% 37 23 378 340 13.0 14.2
Frederick 260 244 6.6% $286,080 $301,440 -5.1% $255,200 $261,500 -2.4% 385 403 992 725 3.8 3.0
Garrett 24 22 9.1% $423,225 $365,886 15.7% $297,500 $313,500 -5.1% 34 35 559 488 23.3 22.2
Harford 174 200 -13.0% $254,176 $255,913 -0.7% $222,375 $230,500 -3.5% 314 333 1,340 1,169 7.7 5.8
Howard 272 274 -0.7% $434,447 $396,761 9.5% $381,975 $350,000 9.1% 428 448 1,005 771 3.7 2.8
Kent 9 13 -30.8% $280,267 $341,500 -17.9% $275,000 $315,000 -12.7% 26 29 386 382 42.9 29.4
Montgomery 871 985 -11.6% $516,433 $493,004 4.8% $400,000 $402,550 -0.6% 1,386 1,413 2,414 1,955 2.8 2.0
Prince George's 633 725 -12.7% $222,107 $202,077 9.9% $216,000 $185,000 16.8% 1,050 1,177 1,631 1,508 2.6 2.1
Queen Anne's 51 50 2.0% $351,233 $418,007 -16.0% $282,000 $306,500 -8.0% 79 73 626 551 12.3 11.0
Somerset 17 12 41.7% $121,582 $130,825 -7.1% $110,000 $91,000 20.9% 16 12 234 243 13.8 20.3
St. Mary's 73 93 -21.5% $281,018 $264,073 6.4% $254,000 $255,850 -0.7% 140 126 707 587 9.7 6.3
Talbot 45 52 -13.5% $347,304 $375,675 -7.6% $265,000 $255,000 3.9% 64 58 558 557 12.4 10.7
Washington 133 108 23.1% $178,987 $191,536 -6.6% $160,500 $175,000 -8.3% 166 196 810 619 6.1 5.7
Wicomico 83 79 5.1% $146,156 $153,638 -4.9% $133,400 $139,900 -4.6% 98 80 564 643 6.8 8.1
Worcester 162 153 5.9% $258,135 $251,378 2.7% $215,500 $220,000 -2.0% 181 195 1,878 1,749 11.6 11.4
MARYLAND 4,986 5,192 -4.0% $306,320 $304,830 0.5% $256,608 $258,093 -0.6% 7,819 7,954 26,952 23,678 5.4 4.6
Reported by the MRIS and Coastal Association of REALTORS NOTE: UNITS ARE THE "UNITS" SOLD, PENDING ARE UNDER CONTRACT

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