Baltimore-area home prices rose 6.5 percent in February from the same month a year ago, reflecting growing sales volume amid reduced inventory, according to a new housing report.
February’s median home price was $245,000, up $15,000 from a year ago and the highest level in a decade, according to the report from ShowingTime, which is based on listing activity from MRIS, a division of the multiple listing service Bright MLS.
The figures are also up 2.5 percent from January, or by $6,000.
The number of closed sales continued to grow in February, sustaining a years-long trend. The 2,252 closings were up 1.9 percent from a year ago and the month before.