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 JUMP IN OCTOBER

 

Existing home sales rose in October for the second month in a row, jumping by 9.2 percent, according to the Maryland Association of REALTORS® (MAR).  There were 474 units more units sold compared to the same month in 2013. Average and median prices remained essentially flat, with changes of only 1.0 and -0.7 percent respectively, an increase of almost $3,000 for average prices and decline of just over $1,800 for median prices.

“We are very happy with the impressive gain in home sales in October”, said MAR President Janice Kirkner.  “This is a continuation of the increased activity in the foreclosure market and it is an encouraging trend. Getting these homes back on the market and occupied by homeowners will have a positive impact on so many neighborhoods,” added Kirkner.  She noted that the increase in pending units (those under contract) and the increase in inventory to 5.6

months from 5.3 months both signal a healthy 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: October 2014

Oct-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 39 34 14.7% $104,072 $120,501 -13.6% $79,772 $77,000 3.6% 42 39 583 563 14.9 16.6
Anne Arundel 573 528 8.5% $366,812 $384,177 -4.5% $295,000 $316,450 -6.8% 681 566 3334 2634 5.8 5.0
Baltimore City 578 477 21.2% $152,039 $144,308 5.4% $99,825 $115,000 -13.2% 785 657 3566 3227 6.2 6.8
Baltimore County 729 639 14.1% $255,625 $245,477 4.1% $212,000 $197,000 7.6% 873 745 3522 2874 4.8 4.5
Calvert 106 84 26.2% $325,130 $289,253 12.4% $273,398 $277,200 -1.4% 103 97 827 731 7.8 8.7
Caroline 31 25 24.0% $117,790 $146,590 -19.6% $105,500 $152,000 -30.6% 34 29 318 311 10.3 12.4
Carroll 149 123 21.1% $286,870 $280,116 2.4% $285,000 $265,000 7.5% 172 149 1028 831 6.9 6.8
Cecil 82 82 0.0% $223,000 $232,727 -4.2% $193,500 $203,500 -4.9% 105 78 896 807 10.9 9.8
Charles 162 131 23.7% $254,133 $251,505 1.0% $229,900 $239,900 -4.2% 216 190 901 744 5.6 5.7
Dorchester 25 19 31.6% $152,996 $185,740 -17.6% $125,000 $200,900 -37.8% 46 27 353 364 14.1 19.2
Frederick 282 240 17.5% $290,859 $289,457 0.5% $261,500 $259,200 0.9% 308 311 1259 989 4.5 4.1
Garrett 38 26 46.2% $332,168 $329,638 0.8% $255,500 $290,250 -12.0% 46 33 618 635 16.3 24.4
Harford 251 218 15.1% $245,276 $252,641 -2.9% $225,000 $231,250 -2.7% 281 251 1523 1272 6.1 5.8
Howard 282 281 0.4% $422,313 $406,470 3.9% $400,000 $378,350 5.7% 321 302 1320 987 4.7 3.5
Kent 27 21 28.6% $507,138 $343,795 47.5% $387,000 $259,000 49.4% 26 25 398 371 14.7 17.7
Montgomery 888 915 -3.0% $488,018 $481,710 1.3% $387,310 $379,000 2.2% 1062 1085 3344 2434 3.8 2.7
Prince George's 687 756 -9.1% $246,667 $215,849 14.3% $235,000 $208,000 13.0% 999 991 1991 1808 2.9 2.4
Queen Anne's 62 46 34.8% $367,522 $341,209 7.7% $270,000 $300,500 -10.1% 69 50 663 604 10.7 13.1
Somerset 17 18 -5.6% $70,603 $113,664 -37.9% $132,400 $125,000 5.9% 16 16 259 251 15.2 13.9
St. Mary's 129 91 41.8% $299,864 $275,882 8.7% $286,000 $281,000 1.8% 103 128 769 702 6.0 7.7
Talbot 65 47 38.3% $541,371 $395,046 37.0% $275,000 $300,000 -8.3% 48 50 595 591 9.2 12.6
Washington 147 122 20.5% $171,408 $184,235 -7.0% $162,000 $156,500 3.5% 150 127 960 841 6.5 6.9
Wicomico 82 59 39.0% $166,340 $170,089 -2.2% $155,000 $154,900 0.1% 85 65 602 621 7.3 10.5
Worcester 175 150 16.7% $237,880 $270,349 -12.0% $205,000 $245,000 -16.3% 173 150 1882 1802 10.8 12.0
MARYLAND         5,606         5,132 9.2% $303,737 $300,778 1.0% $255,094 $256,963 -0.7%         6,744         6,161        31,511        26,994 5.6 5.3
Reported by the MRIS and Coastal Association of REALTORS       NOTE: UNITS ARE THE "UNITS" SOLD, PENDING ARE UNDER CONTRACT

 

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