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 REMAIN FLAT IN MAY

 

Home sales dipped slightly in May, according to the Maryland Association of REALTORS® (MAR).  Statewide units sold declined .3 percent.  For the second month in a row, both average and median prices remained essentially level compared to May 2013.  Average price declined 1.5 percent and median price increased 0.4 percent.  
There was a wide range in monthly data across the state, especially in the more rural and sparsely populated counties such as Caroline, Dorchester, Talbot and Wicomico.  Dorchester and Caroline counties had substantial increases in both number of units sold and average prices. The statistics for Talbot and Wicomico showed a decrease at all levels---number of units, average and median prices
“Given that active inventory or homes on the market has increased by more than 4,200 units over last year, and in light of the gains achieved in 2013, we view flat buyer activity as a sign of a balanced market, without unsustainable volatility“ said MAR President Russ Boyce.  Boyce went on the note that “given historically low interest rates and stabilized prices, this is a great time for consumers to enter the 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: May 2014

May-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 50 46 8.7% $99,156 $97,934 1.2% $89,950 $87,950 2.3% 40 54 566 553 11.3 12.0
Anne Arundel 678 647 4.8% $374,813 $378,611 -1.0% $315,406 $310,000 1.7% 812 811 3,064 2,511 4.5 3.9
Baltimore City 587 597 -1.7% $170,336 $178,602 -4.6% $130,000 $135,000 -3.7% 837 799 3,282 2,994 5.6 5.0
Baltimore County 729 762 -4.3% $258,589 $271,476 -4.7% $214,900 $216,950 -0.9% 1018 1024 3,125 2,619 4.3 3.4
Calvert 99 96 3.1% $313,087 $321,462 -2.6% $300,000 $295,580 1.5% 145 140 815 653 8.2 6.8
Caroline 35 25 40.0% $181,287 $133,966 35.3% $170,000 $128,000 32.8% 48 36 328 257 9.4 10.3
Carroll 157 155 1.3% $292,600 $301,021 -2.8% $285,000 $280,000 1.8% 237 210 890 809 5.7 5.2
Cecil 91 68 33.8% $223,014 $210,822 5.8% $184,900 $217,500 -15.0% 99 102 891 860 9.8 12.6
Charles 170 144 18.1% $255,367 $250,343 2.0% $250,000 $244,150 2.4% 262 208 870 749 5.1 5.2
Dorchester 26 13 100.0% $221,671 $132,038 67.9% $144,000 $134,000 7.5% 33 27 385 362 14.8 27.8
Frederick 312 280 11.4% $308,562 $310,059 -0.5% $270,500 $287,450 -5.9% 365 386 1,160 837 3.7 3.0
Garrett 36 26 38.5% $325,338 $329,881 -1.4% $213,750 $211,000 1.3% 40 37 619 567 17.2 21.8
Harford 257 249 3.2% $268,986 $267,747 0.5% $235,000 $235,000 0.0% 324 311 1,452 1,229 5.6 4.9
Howard 359 356 0.8% $429,599 $432,702 -0.7% $399,000 $387,450 3.0% 424 498 1,189 797 3.3 2.2
Kent 18 24 -25.0% $212,189 $234,817 -9.6% $162,250 $187,500 -13.5% 34 24 402 398 22.3 16.6
Montgomery 1,103 1,157 -4.7% $524,647 $527,960 -0.6% $431,000 $420,000 2.6% 1,351 1,392 2,906 2,159 2.6 1.9
Prince George's 674 747 -9.8% $235,376 $217,385 8.3% $215,000 $202,000 6.4% 1,062 1,098 1,790 1,535 2.7 2.1
Queen Anne's 47 64 -26.6% $392,006 $376,690 4.1% $325,000 $292,500 11.1% 78 84 662 586 14.1 9.2
Somerset 10 10 0.0% $83,200 $120,590 -31.0% $44,750 $119,950 -62.7% 16 20 253 254 25.3 25.4
St. Mary's 122 86 41.9% $301,523 $288,973 4.3% $275,250 $266,000 3.5% 147 108 749 636 6.1 7.4
Talbot 46 64 -28.1% $387,287 $526,545 -26.4% $264,500 $329,500 -19.7% 63 59 583 574 12.7 9.0
Washington 148 151 -2.0% $169,418 $171,424 -1.2% $149,950 $157,500 -4.8% 188 144 864 679 5.8 4.5
Wicomico 75 71 5.6% $132,513 $170,292 -22.2% $120,000 $155,000 -22.6% 91 80 587 643 7.8 9.1
Worcester 181 191 -5.2% $267,874 $273,083 -1.9% $220,000 $239,000 -7.9% 175 175 1,905 1,826 10.5 9.6
MARYLAND 6,010 6,029 -0.3% $321,160 $325,908 -1.5% $273,912 $272,892 0.4% 7,889 7,827 29,337 25,087 4.9 4.2
Reported by the MRIS and Coastal Association of REALTORS NOTE: UNITS ARE THE "UNITS" SOLD, PENDING ARE UNDER CONTRACT

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