July 2020 Housing Market Update

In July 2020, the metro area median sales price hit a ten-year overall high ($320.0K), up 6.7%. Baltimore Metro homes had their fewest days on the market on record (11 days).

Baltimore Metro Area – Overview

  • The metro area median sales price hit a ten-year overall high ($320.0K), up 6.7%.
    • Single-family home median sales prices ($399.9K) rose a July record 7.1% year over year.
    • Howard County detached homes sold at a ten-year record median price of $578.1K, up 11.6%.
  • Closing levels reached a ten-year peak for the overall metro. All jurisdictions saw either ten-year or July highs.
    • Detached home closing volume hit a decade best (2,564 units sold). Sales gained 17.1% from last July, a five-year best for the month.
    • Anne Arundel reported over 1,000 closings in a month for the first time on record. Glen Burnie (193, +36.9%) yielded its best result in a decade.
  • Baltimore Metro homes had their fewest days on the market on record (11 days).
    • Carroll County’s days on the market fell to less than a week for the first time on record, down by over two weeks.
    • Baltimore County saw a ten-year low for both detached and attached home types.
  • Months of inventory supply (1.54) slid to a ten-year low. Single-family home new listings (2,637, down -3.2%) fell to their lowest July levels in seven 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 July 2020 Bright MLS housing data