The median sales price for homes in the Baltimore metro area hit a 10-year high for September of $270,000, up 6.7 percent from a year ago.
The prices was not quite as high as the median August price, which was $280,000, or the top price of $285,000 recorded in June, according to data provided MarketStats by ShowingTime based on listing activity from Bright MLS.
Sales volume for September was down close to 5 percent from a year ago at $872 million.
Inventory, an ongoing problem for the market, was down from last year for the month by 3.3 percent. That made September the 27th consecutive month of year-over-year declines in inventory.
There were 10,656 active listings at the end of September. New listings were also down 2.1 percent from September a year ago, to 4,678.
Homes in Baltimore are selling faster than they have been in a decade, and often for more of the asking price. The indicators reflect a regional housing market that is heating up as household incomes and jobs grow.
By Reema Amin
Jul 13, 2018 at 5:00 AM
Houses stayed on the market a median of 25 days, down four days from a year ago. Sellers were getting an average of 96.4 percent of their original list price, above both last year’s 95.5 percent and August’s 96.2 percent.
Median prices were up in each local jurisdiction for the month, compared with last September. Howard County remained the most expensive market, with a median price of $424,950, up almost 5 percent.
Baltimore City continued to have the lowest median price at $136,500, though that was up 7.5 percent from a year ago.
Anne Arundel County had the biggest year-over-year jump, up almost 11 percent to $343,750. Baltimore County was up just 0.7 percent to $232,706.