January 2020 Housing Market Update
February 12, 2020 – New Year means new record for January as Baltimore Metro area median sales price rises to $257,950, increasing from 3.2% from last year.
Baltimore Metro Area – Overview
- The Baltimore Metro area median sales price of $257,950 was at a new January record, increasing 3.2% over last year.
- Sales volume of over $736 million was up 31.3% from last year.
- Closed sales compared to last year rose by double-digits for the fifth month in a row, increasing 28.7% to 2,507. New pending sales were up for the seventh month in a row, gaining 4.9% to 3,293. Both closed and new pending sales were at the highest January levels of the decade.
- New listings were up a scant 0.4% to 3,696, while active inventories dipped by double-digits this month, falling by 13.9% to just 6,962, the lowest overall monthly level of the past ten years.
- The average percentage of original list price received at sale was 96.2%, up significantly from last January’s 94.4% and was at the highest January level in at least ten years.
- Median days-on-market of 37 are down significantly from last January’s 47 days and are at the lowest January level of the last 10 years.
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 January 2020 Bright MLS housing data