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


MAY HOUSING MARKET CONTINUES STRONG

 

May’s housing statistics confirm a healthy residential sales market, according to the Maryland Association of REALTORS® (MAR). Existing homes sales increased statewide by more than 13 percent, compared to the same month last year.

Average price dropped slightly--1.3 percent--while median price rose 0.6 percent, continuing the trend of price stabilization. Pending units, an indicator of future sales, also continued strong, increasing15 percent, or 1,200 homes, over May 2014. Active inventory increased with almost 1,400 homes for sale, almost 5 percent, while months of inventory declined to 4.5 months, the fourth consecutive drop. 

“May continues the strong market trends we have seen this year,” said MAR President Janice Kirkner.  "Most counties had double digit increases in home sales and predominantly stable prices.” Kirkner went on to add, “Homebuyers are clearly engaged in the market and are likely to remain so throughout the summer.”

 

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 2015

 

May-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 63 50 26.0% $79,414 $99,156 -19.9% $64,000 $89,950 -28.8% 64 40 596 566 9.5 11.3
Anne Arundel 712 678 5.0% $357,866 $374,813 -4.5% $320,000 $315,406 1.5% 975 812 3250 3064 4.6 4.5
Baltimore City 719 587 22.5% $175,953 $170,336 3.3% $142,000 $130,000 9.2% 880 837 3359 3282 4.7 5.6
Baltimore County 873 729 19.8% $266,946 $258,589 3.2% $221,500 $214,900 3.1% 1203 1018 3294 3125 3.8 4.3
Calvert 109 99 10.1% $320,442 $313,087 2.3% $291,750 $300,000 -2.8% 173 145 867 815 8.0 8.2
Caroline 41 35 17.1% $164,094 $181,287 -9.5% $145,000 $170,000 -14.7% 47 48 288 328 7.0 9.4
Carroll 203 157 29.3% $306,268 $292,600 4.7% $289,000 $285,000 1.4% 297 237 960 890 4.7 5.7
Cecil 103 91 13.2% $220,523 $223,014 -1.1% $199,500 $184,900 7.9% 136 99 837 891 8.1 9.8
Charles 191 170 12.4% $260,660 $255,367 2.1% $255,000 $250,000 2.0% 279 262 948 870 5.0 5.1
Dorchester 29 26 11.5% $232,276 $221,671 4.8% $95,000 $144,000 -34.0% 48 33 372 385 12.8 14.8
Frederick 349 312 11.9% $303,612 $308,562 -1.6% $281,000 $270,500 3.9% 464 365 1296 1160 3.7 3.7
Garrett 38 36 5.6% $250,361 $325,338 -23.0% $205,000 $213,750 -4.1% 43 40 593 619 15.6 17.2
Harford 315 257 22.6% $261,129 $268,986 -2.9% $235,000 $235,000 0.0% 421 324 1491 1452 4.7 5.6
Howard 407 359 13.4% $435,955 $429,599 1.5% $399,900 $399,000 0.2% 537 424 1259 1189 3.1 3.3
Kent 19 18 5.6% $247,253 $212,189 16.5% $201,600 $162,250 24.3% 32 34 381 402 20.1 22.3
Montgomery 1215 1103 10.2% $504,744 $524,647 -3.8% $415,000 $431,000 -3.7% 1489 1351 3330 2906 2.7 2.6
Prince George's 723 674 7.3% $249,736 $235,376 6.1% $244,000 $215,000 13.5% 1171 1062 1860 1790 2.6 2.7
Queen Anne's 65 47 38.3% $328,052 $392,006 -16.3% $300,845 $325,000 -7.4% 113 78 711 662 10.9 14.1
Somerset 22 11 100.0% $142,361 $95,000 49.9% $117,500 $49,500 137.4% 17 15 237 266 10.8 24.2
St. Mary's 106 122 -13.1% $242,087 $301,523 -33.5% $231,250 $275,250 -16.0% 141 147 838 749 7.9 6.1
Talbot 55 46 19.6% $616,719 $387,287 59.2% $340,000 $264,500 28.5% 72 63 595 583 10.8 12.7
Washington 132 148 -10.8% $185,935 $169,418 9.7% $163,750 $145,950 12.2% 190 188 933 864 7.1 5.8
Wicomico 98 75 30.7% $144,703 $132,513 16.4% $139,900 $120,000 46.8% 121 75 602 611 6.1 8.1
Worcester 218 181 20.4% $261,740 $267,695 2.9% $228,500 $220,000 0.5% 182 161 1854 1924 8.5 10.6
MARYLAND     6,805     6,011 13.2% $316,815 $321,136 -1.3% $275,292 $273,784 0.6%     9,095     7,858     30,751     29,393 4.5 4.9
Reported by the MRIS and Coastal Association of REALTORS       NOTE: UNITS ARE THE "UNITS" SOLD, PENDING ARE UNDER CONTRACT

 

 

 

 

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