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Home Sales on the Rise!

Baltimore-area home sales rise in June

Things are going well here in Baltimore- at least in the Real Estate world. Number of homes sold, number of homes on the market and sales price of homes have all increased since last year.

Here are the highlights from RBI's report:

"Increase in closed sales driven by single-family detached homes and townhomes.  There were 3,154 closed sales in the Baltimore Metro Region in June, which is 2.8 percent, or 86 sales, higher than last year.  This is the highest level for any month since June 2007."

"Highest June-level [prices] since 2008, driven by single-family detached homes and condo properties.  At $268,000, the median sales price in the Baltimore Metro Region was $5,250, or 2.0 percent, higher than last year.  This is the highest June-level in six years"

"Increased new contracts driven by single-family detached homes; highest June-level since 2005.  The number of new contracts signed in June increased from last year for the first time in five months.  There were 3,399 new contracts in June, 3.2 percent, or 105 contracts more than last year.  This is the highest June-level in nine years."

"Ninth consecutive month of year-over-year increases for active listings; highest number of active listings in over two years.  Active listings in the Baltimore Metro Region increased 22.2 percent, or by 2,485 listings, from last June to 13,677 listings.  This is the ninth consecutive month of year-over-year gains for this indicator and the highest level of any month in over two years."

"New listings have increased from the prior year for 15 consecutive months.  There were 5,156 new listings in June, increasing 19.8 percent, or by 852 listings from last year.  New listings are now at their highest June-level since 2007."

Read more here and here.

Housing Inventory Snapshot

I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date. Housing Inventory Snapshot June 27, 2014   Average List Price for active listings Median List Price for active listings Average DOM: for active listings/ for sold listings Allegany County, MD Single Family under $180K $98,124 $94,900 201  / 191 Single Family over $180K $289,621 $259,000 183  / 92 Condo/Townhome under $300K $103,594 $94,500 267  / N/A** Anne Arundel County, MD Single Family under $500K $331,224 $335,000 105  / 111 Single Family over $500K $974,897 $719,000 132  / 121 Condo/Townhome under $300K $188,807 $214,500 110  / 100 Condo/Townhome over $300K $422,952 $375,990 83  / 107 Baltimore City, MD Single Family under $500K $206,652 $195,000 109  / 104 Single Family over $500K $971,111 $675,000 93  / 98 Condo/Townhome under $300K $113,973 $99,000 120  / 118 Condo/Townhome over $300K $487,900 $399,000 85  / 99 Baltimore County, MD Single Family under $500K $259,416 $239,900 106  / 108 Single Family over $500K $880,558 $675,000 113  / 100 Condo/Townhome under $300K $124,891 $118,900 113  / 114 Condo/Townhome over $300K $466,591 $399,000 77  / 95 Calvert County, MD Single Family under $500K $310,872 $314,900 134  / 139 Single Family over $500K $732,306 $609,900 152  / 118 Condo/Townhome under $300K $229,175 $231,900 174  / 142 Condo/Townhome over $300K $377,476 $343,900 251  / 242 Caroline County, MD Single Family under $500K $200,250 $189,900 206  / 162 Single Family over $500K $791,150 $750,000 188  / N/A** Carroll County, MD Single Family under $500K $327,877 $329,900 99  / 117 Single Family over $500K $730,919 $639,000 135  / 104 Condo/Townhome under $300K $171,885 $161,000 95  / 110 Condo/Townhome over $300K $348,729 $344,990 36  / 159 Cecil County, MD Single Family under $500K $265,556 $259,900 148  / 130 Single Family over $500K $835,131 $695,000 185  / 181 Condo/Townhome under $230K $147,552 $148,000 109  / 157 Condo/Townhome over $230K $273,176 $249,900 160  / N/A** Charles County, MD Single Family under $500K $317,571 $328,000 121  / 122 Single Family over $500K $799,891 $639,000 174  / 151 Condo/Townhome under $300K $183,730 $189,900 97  / 154 Dorchester County, MD Single Family under $500K $176,142 $149,900 205  / 134 Single Family over $500K $1,135,109 $774,000 219  / 105 Condo/Townhome under $200K $126,350 $144,900 152  / 94 Condo/Townhome over $200K $328,600 $274,500 225  / N/A** Frederick County, MD Single Family under $500K $323,261 $329,900 103  / 101 Single Family over $500K $750,198 $629,000 117  / 88 Condo/Townhome under $300K $212,419 $224,900 66  / 77 Condo/Townhome over $300K $412,146 $374,990 69  / 84 Garrett County, MD Single Family under $500K $206,846 $174,900 188  / 248 Single Family over $500K $937,091 $789,000 284  / 309 Condo/Townhome under $300K $219,222 $225,000 375  / 61 Condo/Townhome over $300K $449,986 $367,000 162  / N/A** Harford County, MD Single Family under $500K $318,853 $325,000 103  / 129 Single Family over $500K $730,013 $610,000 181  / 148 Condo/Townhome under $300K $178,323 $180,000 87  / 113 Condo/Townhome over $300K $408,966 $369,990 180  / 103 Howard County, MD Single Family under $500K $377,823 $385,000 73  / 99 Single Family over $500K $819,789 $709,900 114  / 89 Condo/Townhome under $300K $213,571 $225,000 70  / 88 Condo/Townhome over $300K $416,117 $396,350 46  / 87 Montgomery County, MD Single Family under $1M $566,460 $539,000 81  / 77 Single Family over $1M $1,931,439 $1,575,000 104  / 85 Condo/Townhome under $600K $305,635 $299,000 64  / 89 Condo/Townhome over $600K $1,015,644 $719,000 70  / 73 Prince Georges County, MD Single Family under $500K $303,040 $298,000 96  / 119 Single Family over $500K $707,783 $604,900 134  / 101 Condo/Townhome under $300K $153,877 $155,000 127  / 136 Condo/Townhome over $300K $442,524 $389,900 83  / 72

If you know someone who is considering buying or selling a home, please give me a call. I will provide professional & courteous service along with knowledgeable guidance through the process.

Sincerely,     Magan Marie Drane, Realtor®, ABR® Relocation Expert Direct (410) 493-6854 Office (410) 235-4100 Magan@MaganDrane.com www.magandrane.com Coldwell Banker Residential Brokerage  Listing Agent  &  Buyers Agent Since 2005