The number of homes on the market in the Baltimore region rose to the highest level in more than two years in May, while there was little change in the number of sales or the median price compared to last year, according to a monthly report published Tuesday.
The RealEstate Business Intelligence report found continued "flat buyer activity" for the month, with 2,767 homes sold at a median sales price of $250,000, metrics unchanged compared to last year. The numbers point to a possible plateau in the market, after months of slow, but steady recovery.
There were more than 13,000 active listings in May in Baltimore and its five surrounding counties, up 18.6 percent compared to 2013 and 8.7 percent compared to April, but despite the increase, inventory remained more than a third below the market's 2008 peak, according to the data, collected by a subsidiary of the MRIS multiple listing service. New listings rose to 5,586, up 17 percent year-over-year, but down slightly compared to last month.
The Howard County market topped the region with a median sales price of $399,000, up 3 percent compared to last year. In Baltimore City, with the cheapest homes, the median sales price dropped 3.7 percent, to $130,000.
Prices in Baltimore County dropped less than 1 percent, from $216,950 to $214,900 and remained unchanged in Harford County at $235,000.
Carroll and Anne Arundel posted increases of less than 2 percent, to $285,000 and $315,406 respectively.