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


MARCH NUMBERS KICK OFF A STRONG SPRING SEASON

 

The first quarter of the new year ended with sales activity in March increasing almost 25 percent over the same month in 2014, according to the Maryland Association of REALTORS® (MAR). Average home prices declined slightly, by 1.1 percent, while median price remained essentially flat, increasing .2 percent, compared to the same time period in 2014.

“The solid jump in home sales confirms our expectations for a healthy spring selling season,” said MAR President Janice Kirkner. “Clearly pricing is very attractive to buyers, with the stability in both average and median price. The number of homes under contract was up by 16 percent since last year at this time,” added Kirkner. She went on to note that active inventory has also increased by almost 1,700 homes, while the increased pace of sales has dropped month in inventory to 4.8, compared to 5.7 last March.

 

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: March 2015

Mar-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 37 40 -7.5% $69,787 $95,696 -27.1% $56,000 $85,055 -34.2% 70 53 525 494 14.2 12.4
Anne Arundel 556 449 23.8% $355,516 $341,956 4.0% $299,450 $298,000 0.5% 866 739 2736 2521 4.9 5.6
Baltimore City 641 504 27.2% $146,683 $156,927 -6.5% $87,500 $115,150 -24.0% 946 763 3028 2902 4.7 5.8
Baltimore County 688 561 22.6% $251,879 $251,056 0.3% $208,350 $200,000 4.2% 1051 876 2659 2498 3.9 4.5
Calvert 93 61 52.5% $298,730 $301,543 -0.9% $273,000 $292,000 -6.5% 158 119 697 679 7.5 11.1
Caroline 34 25 36.0% $155,268 $149,932 3.6% $155,700 $171,000 -8.9% 46 47 278 290 8.2 11.6
Carroll 158 133 18.8% $269,370 $277,518 -2.9% $259,250 $265,000 -2.2% 242 179 827 707 5.2 5.3
Cecil 74 54 37.0% $188,833 $206,819 -8.7% $180,000 $186,200 -3.3% 118 103 721 788 9.7 14.6
Charles 172 132 30.3% $254,244 $238,875 6.4% $249,692 $226,350 10.3% 275 226 777 721 4.5 5.5
Dorchester 38 21 81.0% $158,371 $170,105 -6.9% $137,500 $140,000 -1.8% 36 37 336 358 8.8 17.0
Frederick 276 222 24.3% $284,984 $282,855 0.8% $260,500 $250,000 4.2% 405 359 1034 840 3.7 3.8
Garrett 26 24 8.3% $330,370 $357,354 -7.6% $305,000 $325,000 -6.2% 28 32 444 476 17.1 19.8
Harford 219 184 19.0% $254,800 $240,903 5.8% $230,000 $210,000 9.5% 331 295 1252 1184 5.7 6.4
Howard 270 217 24.4% $391,038 $437,635 -10.6% $365,162 $400,000 -8.7% 425 376 1010 847 3.7 3.9
Kent 21 15 40.0% $259,248 $301,910 -14.1% $180,000 $200,000 -10.0% 28 17 338 362 16.1 24.1
Montgomery 836 709 17.9% $499,348 $494,896 0.9% $397,450 $375,000 6.0% 1310 1140 2504 2061 3.0 2.9
Prince George's 705 544 29.6% $234,460 $221,733 5.7% $224,900 $209,700 7.2% 1119 1084 1638 1505 2.3 2.8
Queen Anne's 52 32 62.5% $249,843 $276,276 -9.6% $235,000 $242,500 -3.1% 86 69 633 563 12.2 17.6
Somerset 24 17 41.2% $95,117 $143,159 -33.6% $65,200 $61,000 6.9% 26 14 215 213 9.0 12.5
St. Mary's 91 72 26.4% $252,750 $283,297 -10.8% $230,000 $282,450 -18.6% 145 122 711 669 7.8 9.3
Talbot 45 39 15.4% $310,271 $337,513 -8.1% $270,200 $284,550 -5.0% 48 42 514 500 11.4 12.8
Washington 131 95 37.9% $166,720 $180,185 -7.5% $149,900 $158,900 -5.7% 187 171 833 732 6.4 7.7
Wicomico 84 65 29.2% $149,898 $128,732 16.4% $151,950 $103,500 46.8% 120 81 549 552 6.5 8.5
Worcester 146 138 5.8% $237,228 $230,611 2.9% $210,500 $209,500 0.5% 213 188 1733 1831 11.9 13.3
MARYLAND     5,417     4,353 24.4% $288,911 $292,089 -1.1% $246,361 $245,877 0.2%     8,279     7,132     25,992     24,293 4.8 5.6
Reported by the MRIS and Coastal Association of REALTORS       NOTE: UNITS ARE THE "UNITS" SOLD, PENDING ARE UNDER CONTRACT

 

 

 

 

 

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