Baltimore-area home sales and prices continued to climb in November as the inventory of available homes sunk to a 10-year low.
A total of 3,003 homes sold for a median prices of $254,000, up 5.8 percent from the same time last year and the highest November sales volume and median price in a decade, according to a ShowingTime report released Monday.
Active listings declined by 11 percent, to 9,712, marking the 27th consecutive month of declining year-over-year inventory levels and the lowest November level in a decade, according to the monthly report, based on listing activity from MRIS, a division of the multiple-listing service Bright MLS.
In Baltimore, November home sales were up 6.3 percent percent from last year, with a total of 676 sales. The median price of $125,000 was down 4.9 percent from November 2016.
Carroll County saw the greatest year-over-year increase in median sales price, up 22.8 percent to $331,500. A total of 181 homes sold in Carroll County in November, up 2.3 percent from the year-ago month.
Howard County had the greatest increase in home sales, up 10.5 percent, to 337 sales. Homes in Howard County sold for a median of $375,000, the highest in the region and up 2.5 percent from last November.
In Baltimore County, 836 homes sold for a median price of $228,000. Homes sales rose 7.9 percent and median prices were up 6.1 percent compared to last November.
November home sales declined slightly, by 2.2 percent, in Anne Arundel County, with 666 deals closed. Homes sold for a median price of $335,500, up 13.3 percent from the year-ago month.
In Harford County, 307 homes sold for a median price of $237,000, up 1.7 percent from last November’s median price. The number of sales in Harford County was up 6.2 percent compared to the same month last year.
Homes in the region spent a median of 32 days on the market, eight fewer than this time last year, and sold for an average of 95 percent of their list price.