13 May April 2024 Housing Stats by Jacky Mueck Membership 0 0 Comment 625 Maryland Homes Sales Rise 2.4% in Maryland REALTORS®’ April 2024 Housing Statistics—First Increase Since August 2021 ANNAPOLIS, MD—May 13, 2024—The number of homes sold in Maryland increased 2.4% to 5,839 units versus 2023’s figure of 5,704 units, according to Maryland REALTORS®’ April 2024 Housing Statistics. The average sales price rose 7.5% to $500,968, while the median sales price grew 5.1% to $415,000. The last time units sold exceeded the previous year’s monthly sales was August 2021. Units pending (houses under contract) grew 9% in April 2024 to 7,112 units, a further sign that housing in Maryland is in an active spring market. The decrease in active inventory, down 14.6% from last year, was less severe of a decline than in the previous months of March 2024 (21.8%) and February 2024 (20.4%). “Seeing the increase in sales is good news for all of us: the homeowner, the community, the local governments,” said Chris Hill, 2024 President, Maryland REALTORS®, “but inventory and interest rates remain huge issues. In April, months of inventory grew to 1.7 months, but a balanced market would have about six months of inventory available.” Hill suggested that consumers who are looking to buy or sell their home should visit MarylandHomeownership.com for resources that can help make sense of the home buying or home selling process. “First-time homebuyers especially will find information that can help them on their path toward homeownership, including webinars with experts in finance and real estate,” added Hill. Through MarylandHomeownership.com, first-time homebuyers can access a list of REALTORS® who have been uniquely trained in working with people entering the market for the first time. “Education is key, and having the right Buyer’s Agent at your side can make all the difference.” Download April 2024 Housing Statistics Download April 2024 Housing Infographic April 2024, Housing Stats Share Comments are closed.