May 2019 Housing Market Update

June 11, 2019 — The median sales price of a home in the Baltimore Metro region reached record $293,000 in May according the latest Bright MLS statistics, the highest price in a decade. This price is 6.5% above the previous record of $285,000 set in June 2018. 

  • The Baltimore Metro area median sales price of $293,000 set a new overall record for the decade, rising 6.5% compared to last year and breaking the previous record of $285,000 set in June 2018.
  • Sales volume of nearly $1.3 billion was up 5.1% from last year.
  • Closed sales of 3,787 were down 1.6% compared to last year and year-over-year closed sales have now decreased for nine consecutive months.
  • New pending sales of 4,891 were up 5.6% from last May, the third consecutive month of gains.
  • New listings rose by 2.9% to 6,476, also the third consecutive month of year-over-year increases.
  • There were 10,087 active listings at the end of May, up 2.7% from last year. This is the eighth consecutive month of increases in year-over-year inventories but is still the second lowest level of May inventories of the past decade.
  • The May average percentage of original list price received at sale was 97.6%, the highest monthly level of the decade.

The Baltimore Metro Area housing market includes the City of Baltimore, Anne Arundel County, Baltimore County, Carroll County, Harford County, and Howard County in Maryland. 

Source: MarketStats by ShowingTime based on April 2019 Bright MLS housing data