New contracts and closed sales both top April 2014 marks by 23 percent; Prices dip slightly as foreclosure sales increases continue
Rockville, MD – (May 11, 2015) – The following analysis of the Baltimore Metro Area housing market has been prepared by Elliot Eisenberg, Ph.D. of RealEstate Business Intelligence (RBI) and is based on April 2015 MRIS housing data.
OVERVIEW
The Baltimore Metro housing market saw large increases in sales, new contracts and inventories compared to April 2014, but experienced a small decline in median sales prices. Closed sales of 2,796 increased by 22.8% from April 2014 and by 10.4% compared to March 2015. The number of new contracts increased 22.5% to 4,387 from the prior year, and are at their highest April level and highest overall number in a decade. The median sales price in April in the Baltimore Metro area was $230,000, down $10,000 or 4.2% from a year earlier and nearly flat compared to last month. The $267,000 median sales price for “non-distressed” sales (those not involving a short sale or foreclosures) is also down just slightly from the median sales price of $269,450 last April. Total sold dollar volume across the region in April was more than $743 million, up 16.5% percent from last year.