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


FEBRUARY HOUSING SALES FLAT, PRICES RISE

February existing home sales decreased slightly, but average and median price continued to rise, according to the Maryland Association of REALTORS®. Units sold declined by 0.02 percent, eight homes, compared to February of 2013, while average price rose by more than $19,000, or 7.2 percent, and median price increased more than $17,000, a gain of 7.7 percent.

“It’s not surprising that February sales were essentially flat compared to last year, given that it was one of the worst months in a winter season of unusually harsh weather,” said MAR President Russ Boyce. He noted, “That accounts for the half month increase in inventory and the dip in pending sales as well. But continued price increases indicate that consumer demand remains strong, and the spring selling season is likely to be robust.”

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: February 2014

Feb-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
29
26
11.5%
$84,168
$106,569
-21.0%
$55,000
$91,000
-39.6%
33
46
485
472
16.7
18.2
Anne Arundel
372
324
14.8%
$341,397
$340,861
0.2%
$298,195
$274,000
8.8%
562
541
2,349
2,086
6.3
6.4
Baltimore City
371
358
3.6%
$154,097
$134,007
15.0%
$104,000
$88,500
17.5%
606
615
2,826
2,708
7.6
7.6
Baltimore County
421
422
-0.2%
$231,777
$220,935
4.9%
$195,000
$190,000
2.6%
678
678
2,343
2,236
5.6
5.3
Calvert
71
53
34.0%
$279,168
$306,672
-9.0%
$245,000
$259,000
-5.4%
98
125
641
568
9.0
10.7
Caroline
18
15
20.0%
$122,733
$146,917
-16.5%
$101,500
$158,000
-35.8%
33
33
301
249
16.7
16.6
Carroll
85
84
1.2%
$279,387
$279,613
-0.1%
$277,000
$270,000
2.6%
154
141
648
650
7.6
7.7
Cecil
46
45
2.2%
$269,855
$169,166
59.5%
$232,500
$139,000
67.3%
55
82
758
687
16.5
15.3
Charles
85
112
-24.1%
$252,354
$227,793
10.8%
$230,000
$211,500
8.7%
177
200
686
627
8.1
5.6
Dorchester
10
11
-9.1%
$174,363
$153,036
13.9%
$187,750
$85,000
120.9%
29
18
340
336
34.0
30.5
Frederick
168
166
1.2%
$287,548
$270,622
6.3%
$247,050
$252,500
-2.2%
251
255
788
633
4.7
3.8
Garrett
21
28
-25.0%
$314,198
$245,389
28.0%
$235,000
$157,500
49.2%
20
27
488
447
23.2
16.0
Harford
124
117
6.0%
$240,656
$256,670
-6.2%
$216,850
$230,000
-5.7%
202
227
1,143
1,028
9.2
8.8
Howard
164
146
12.3%
$386,952
$376,976
2.6%
$339,900
$352,500
-3.6%
237
280
798
703
4.9
4.8
Kent
7
12
-41.7%
$339,900
$177,042
92.0%
$255,000
$137,500
85.5%
8
19
331
342
47.3
28.5
Montgomery
542
558
-2.9%
$475,159
$421,393
12.8%
$375,000
$347,000
8.1%
854
991
1,807
1,476
3.3
2.6
Prince George's
474
542
-12.5%
$217,140
$188,017
15.5%
$206,500
$165,000
25.2%
833
990
1,567
1,604
3.3
3.0
Queen Anne's
28
38
-26.3%
$361,686
$378,843
-4.5%
$320,000
$322,450
-0.8%
44
57
524
479
18.7
12.6
Somerset
7
13
-46.2%
$95,945
$122,727
-21.8%
$125,000
$55,000
127.3%
16
8
201
230
28.7
17.7
St. Mary's
61
78
-21.8%
$248,937
$268,965
-7.4%
$229,000
$266,400
-14.0%
113
100
661
533
10.8
6.8
Talbot
27
24
12.5%
$382,977
$358,461
6.8%
$315,000
$245,500
28.3%
44
49
473
459
17.5
19.1
Washington
74
61
21.3%
$169,650
$169,644
0.0%
$149,630
$142,000
5.4%
114
128
739
580
10.0
9.5
Wicomico
70
49
42.9%
$128,701
$132,891
-3.2%
$106,250
$125,000
-15.0%
84
74
543
610
7.8
12.4
Worcester
88
89
-1.1%
$233,817
$265,256
-11.9%
$226,250
$206,950
9.3%
133
129
1,714
1,639
19.5
18.4
MARYLAND
3,363
3,371
-0.2%
$283,998
$264,979
7.2%
$241,097
$223,943
7.7%
5,378
5,813
23,154
21,382
6.9
6.3
Reported by the MRIS and Coastal Association of REALTORS NOTE: UNITS ARE THE "UNITS" SOLD, PENDING ARE UNDER CONTRACT

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