Baltimore, MD Metropolitan Area Luxury Housing Market Update January 218
Baltimore Metropolitan Area - January 218 The real estate market is always changing, and if you re buying or selling a home especially a luxury property it s critical to understand the current market conditions. More than simply seeing what s happening to real estate as a whole in your local area, you need insights on what s taking place in the highend market, specifically with uncommon and unique homes like yours or those for which you re shopping. That s why Long & Foster publishes our exclusive LuxInsight report giving consumers like you invaluable information on the luxury market performance in your local area. Published monthly, LuxInsight provides you with A broad overview of real estate trends in the high-end real estate market. From median sale prices and active inventory to the current housing Demand and available active listings, LuxInsight gives you access to essential statistics you need to know. Beyond this valuable market information, Long & Foster s team of luxury sales associates is available to guide you through the real estate process. We believe luxury real estate is all about the individual, and when you work with us, you'll receive an experience tailored to your unique needs. You'll enjoy exceptional service and expertise, provided by agents who specialize in marketing and selling the most stunning luxury homes. You'll gain our exclusive connections around the world and get a luxury home experience with proven results. AT A GLANCE Active Inventory 89 New Listings 173 Units Sold Median Sale Price $95,349 1,42 1,32 1,22 1,12 1,2 92 82 72 45 4 35 3 25 2 15 1 5 2 18 16 14 12 1 8 6 4 2 $1,5, $1,, $95, $9, $85, $8, Down -3.1% Up 5.5% Down -7.4% Down -1.3% 2
Baltimore Metropolitan Area - January 218 Compared to last January, the total number of homes more than $75, available this month was lower by 3.1% and lower by 6.% compared to January 216. Active inventory this January was 9.2% lower than the previous month s supply of available inventory. Total Inventory INVENTORY PRICE RANGES $75K + 8.92% $75K - $2M 7.93% $2M - $5M.88% $5M+.11% 1,4 1,2 1, 8 6 4 2 ACTIVE INVENTORY 868 896 1,18 1,12 1,242 1,255 1,252 1,225 1,25 1,148 1,29 89 861 94 1,41 1,217 1,247 1,257 1,28 1,253 1,228 1,185 1,12 868 835 876 1,32 1,197 1,278 1,31 1,295 1,273 1,274 1,217 1,43 891 89 NEW LISTINGS & NEW CONTRACTS New Listings New Contracts ACTIVE INVENTORY Versus Previous Years 45 4 35 3 25 2 15 1 5 141 137 65 6 164 173 78 18 88 86 84 82 8 78 861 835 89 3
Baltimore Metropolitan Area - January 218 This month s units sold for homes more than $75, was lower than at this time last year, a decrease of 7.4% versus last January and an increase of 1.6% versus January of 216. There was a decrease of 37.6% in luxury units sold in January compared to December of this year. 7 68 66 64 62 6 58 62 UNITS SOLD Versus Previous Years 68 2 18 16 14 12 1 8 6 4 2 UNITS SOLD 34 46 66 67 11 153 124 115 9 97 71 96 62 47 79 88 13 162 126 112 9 16 91 18 68 55 93 14 128 174 161 136 116 11 85 11 Sold Date City Zip Code RECENT SELECTED LUXURY SALES Final List Price Final Sale Price Sale Price as % of List Price January 15, 218 Towson 2124 $2,55, $2,425, 95.1% 8 January 29, 218 Towson 21286 $1,595, $1,5, 94.% 25 January 12, 218 Annapolis 2141 $1,6, $1,4, 87.5% 12 January 1, 218 Annapolis 2141 $1,45, $1,365, 94.1% 189 January 31, 218 Annapolis 2143 $1,399, $1,35, 96.5% 8 January 5, 218 Annapolis 2149 $1,375, $1,3, 94.5% 41 January 16, 218 Fulton 2759 $1,145, $1,259,186 11.% 3 January 26, 218 Ellicott City 2142 $1,175, $1,1, 93.6% 35 January 16, 218 Chester 21619 $1,85, $1,85, 1.% 17 January 31, 218 West River 2778 $1,195, $1,65, 89.1% 38 DOM Buyer Long & Foster Represented Seller 4
Baltimore Metropolitan Area - January 218 In January, the median sales price for homes more than $75, was $95,349, a decrease of 1.3% compared to last year. The current median sales price is approximately the same as December. $1,5, $1,, $95, $9, $85, $8, $1,27,5 MEDIAN SALES PRICE Versus Previous Years $917,78 $95,349 $1,2, MEDIAN SALES PRICE $1,, $8, $6, $1,3, $91, $975, $915, $875, $865, $851, $898, $922,981 $875, $866, $942,5 $1,27,5 $885, $88, $917,516 $926, $875, $896, $915,968 $855,851 $94, $955, $897,29 $917,78 $84, $869,9 $9, $857,5 $8,75 $88, $899,5 $88, $917,132 $895, $91, $95,349 $4, $2, $ $2,, $18,, $16,, $14,, $12,, $1,, $8,, $6,, $4,, $2,, $ $4,447,83 TOTAL DOLLAR VOLUME SOLD $73,456,52 $74,584,392 $69,991,77 Total volume sold this January was 6.2% lower than the same month one year ago. 5
Baltimore Metropolitan Area - January 218 In January, the average sale price for homes more than $75, was 94.2% of the average list price, which is.4% higher than at this time last year. This month, the average number of days on market was 73, lower than the average last year, which was 11, a decrease of 27.7%. 1% 98% 96% 94% 92% 9% 88% 86% 94.2% SALE PRICE AS % OF LIST PRICE 94.7% 93.8% 94.2% DAYS ON MARKET 14 12 1 8 6 4 13 111 89 94 91 74 65 11 17 9 121 14 84 11 79 88 66 83 75 55 11 77 84 81 116 92 84 8 112 96 74 7 75 73 64 57 2 MONTHS OF SUPPLY In January, there were 12.8 months of supply available, compared to 12.3 in January of 217. That is an increase of 4.1% versus a year ago. 3 25 2 15 1 5 25.5 19.5 15.4 16.7 12.3 8.2 1.1 1.7 13.4 11.8 14.5 9.3 13.9 19.2 13.2 13.8 12.1 7.8 1.2 11.2 13.6 11.2 11.1 8. 12.3 15.9 11.1 11.5 1. 7.5 8. 9.4 11. 12.1 12.3 8.8 12.8 6
Baltimore Metropolitan Area - January 218 References & Definitions BALTIMORE METROPOLITAN AREA: LISTING SOURCE, REPORTING AREA, & DEFINITION Based on data supplied by Metropolitan Regional Information Systems (MRIS) and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Counties & cities included in this area are: Anne Arundel, Baltimore, Carroll, Harford, Howard, and Queen Anne s Counties and Baltimore City in Maryland. Analysis dates for all regions are January 1, 215 through January 31, 218. MEDIA CONTACT Vicki Bendure, Bendure Communications Email: Vicki@bendurepr.com Phone: (54) 687-336 Contacts & Disclaimers CREATED BY Michael Bystry, Long & Foster Real Estate, Inc. Senior Market Research Analyst DISCLAIMER "Information contained in this report is based on data provided by the local area Multiple Listing Service and its member Association(s) of REALTORS. No representation, expressed or implied, should be taken from information herein. Neither these organizations nor Long & Foster Real Estate, Inc. guarantee or are in any way responsible for the accuracy of these results, which do not reflect all activity in the marketplace. For more information regarding your specific market, contact one of Long & Foster s knowledgeable and experienced sales associates. Analysis dates are January 1, 215 through January 31, 218. Information contained in this report is not limited to transactions done by Long & Foster Real Estate, Inc. The data reported is solely for residential real estate transactions. Information contained in this report is deemed reliable but not guaranteed, should be independently verified and does not constitute an opinion of Long & Foster Real Estate, Inc. For more information regarding your specific market, contact one of Long & Foster s knowledgeable and experienced sales associates. Analysis dates are January 1, 215 through January 31, 218". Material appearing in this report may be reproduced or copied without permission. Please use the following acknowledgement for citation: Source: Long & Foster Real Estate, Inc. and also cite the appropriate MLS. 7