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


 NOVEMBER HOUSING MARKET STAYS ON STABILIZATION TRACK

 

Maryland's November housing statistics showed continued market strengths and some possible weaknesses, according the Maryland Association of REALTORS® (MAR). Units sold declined slightly statewide, compared to November 2012, likely a result of continued increases in both average and median sales price. The number of pending sales, an indicator of future sales, rose slightly from the same time last year.

       The number of units sold in November 2013 declined 2.7 percent, or 124 units. Average price climbed by 8.0 percent, from $291,746 to $315,148. Median price increased 4.7 percent, or $11,521. “Price increases indicate continued strong consumer demand,” said MAR President Russ Boyce, "but it's disappointing to see fewer closings." He noted that “both the number of homes under contract and active inventory have grown since last year at the same time.” Inventory rose from 5.4 to 5.8, still below the 6 months considered necessary for a balanced 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.

 

November 2013

  Units Average Price Median Price Pending Units Active Inventory Months of Inventory
2013 2012 % Chg 2013 2012 % Chg 2013 2012 % Chg 2013 2012 2013 2012 2013 2012
Allegany 27 34 -20.6% $92,930 $90,249 3.0% $85,000 $77,500 9.7% 30 34 557 525 20.6 15.4
Anne Arundel 480 475 1.1% $419,801 $352,170 19.2% $322,750 $290,000 11.3% 454 473 2,526 2,319 5.3 4.9
Baltimore City 486 434 12.0% $145,923 $151,161 -3.5% $90,500 $114,950 -21.3% 629 547 3,195 3,007 6.6 6.9
Baltimore County 531 566 -6.2% $274,732 $248,711 10.5% $210,000 $200,000 5.0% 683 615 2,759 2,631 5.2 4.6
Calvert 58 72 -19.4% $338,001 $318,845 6.0% $292,500 $291,292 0.4% 95 95 699 655 12.1 9.1
Caroline 17 21 -19.0% $186,841 $186,157 0.4% $175,000 $152,000 15.1% 31 18 303 287 17.8 13.7
Carroll 128 125 2.4% $300,591 $268,357 12.0% $281,000 $247,000 13.8% 143 112 765 770 6.0 6.2
Cecil 74 61 21.3% $238,313 $202,488 17.7% $198,500 $185,000 7.3% 66 71 816 720 11.0 11.8
Charles 135 110 22.7% $251,606 $250,845 0.3% $239,500 $255,500 -6.3% 142 163 748 699 5.5 6.4
Dorchester 27 30 -10.0% $144,573 $107,466 34.5% $115,000 $85,000 35.3% 24 21 363 360 13.4 12.0
Frederick 216 231 -6.5% $286,410 $265,434 7.9% $255,250 $240,000 6.4% 251 222 862 714 4.0 3.1
Garrett 29 28 3.6% $352,766 $349,275 1.0% $300,000 $250,000 20.0% 31 23 572 528 19.7 18.9
Harford 181 173 4.6% $259,992 $265,870 -2.2% $238,500 $235,000 1.5% 199 220 1,230 1,182 6.8 6.8
Howard 228 244 -6.6% $411,274 $406,110 1.3% $372,400 $375,500 -0.8% 267 246 925 868 4.1 3.6
Kent 15 16 -6.3% $342,593 $360,925 -5.1% $210,000 $264,500 -20.6% 16 26 350 352 23.3 22.0
Montgomery 748 828 -9.7% $506,868 $458,792 10.5% $403,750 $364,875 10.7% 896 844 2,107 1,893 2.8 2.3
Prince George's 546 623 -12.4% $221,298 $191,085 15.8% $206,500 $177,500 16.3% 909 965 1,805 1,917 3.3 3.1
Queen Anne's 53 49 8.2% $420,256 $314,983 33.4% $320,000 $265,000 20.8% 45 42 572 495 10.8 10.1
Somerset 18 9 100.0% $109,456 $52,911 106.9% $99,000 $41,000 141.5% 6 6 241 272 13.4 30.2
St. Mary's 76 62 22.6% $300,098 $280,332 7.1% $290,500 $267,500 8.6% 91 81 682 563 9.0 9.1
Talbot 44 50 -12.0% $475,023 $451,020 5.3% $250,000 $324,750 -23.0% 32 40 553 491 12.6 9.8
Washington 83 96 -13.5% $199,245 $170,173 17.1% $164,900 $163,250 1.0% 127 114 799 656 9.6 6.8
Wicomico 72 47 53.2% $174,192 $148,462 17.3% $158,950 $130,000 22.3% 76 52 610 695 8.5 14.8
Worcester 136 148 -8.1% $268,650 $282,770 -5.0% $223,050 $240,000 -7.1% 104 92 1,740 1,668 12.8 11.3
MARYLAND 4,408 4,532 -2.7% $315,148 $291,746 8.0% $257,677 $246,156 4.7% 5,347 5,122 25,779 24,267 5.8 5.4
Reported by the MRIS and Coastal Association of REALTORS       NOTE: UNITS ARE THE "UNITS" SOLD, PENDING ARE UNDER CONTRACT

 

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