Maryland existing homes sold in January rose by
1.1 percent over 2013, according to the Maryland Association of REALTORS® (MAR),
from 3,407 last year units to 3,443 units in 2014 . Average and median prices
rose by 7 and 5.5 percent respectively, with average price increasing by $18,407
and median price climbing by $12,403.
“January is traditionally a slow month for
residential sales, and we are encouraged by an increase in activity,” said MAR
President Russ Boyce. He noted that current inventory rose slightly, to 6.6
months from 6.3 months, and pending sales declined slightly, both likely a
response to rising prices. “All in all,” Boyce said, “we expect a strong spring
selling season.”
Maryland monthly housing statistics are compiled
by data as reported by MRIS and the Coastal Association of REALTORS®. For the
purposes of this report, “units” are defined as the closed sales and “pending
units” are properties under contract. Months of inventory are based on the
current active inventory and monthly sales for the corresponding month.
*MAR publishes the Maryland Housing Statistics monthly; it is available through the Association’s website, www.mdrealtor.org.
The Maryland Association of REALTORS® is the largest Maryland professional trade association, serving over 22,000 members, and is dedicated to preserving the vitality of the real estate market. REALTOR® is a registered collective membership mark which may only be used by those real estate professionals who subscribe to the REALTOR® organization's strict Code of Ethics, and who are members of the National, State and Local REALTOR® organizations.
*MAR publishes the Maryland Housing Statistics monthly; it is available through the Association’s website, www.mdrealtor.org.
The Maryland Association of REALTORS® is the largest Maryland professional trade association, serving over 22,000 members, and is dedicated to preserving the vitality of the real estate market. REALTOR® is a registered collective membership mark which may only be used by those real estate professionals who subscribe to the REALTOR® organization's strict Code of Ethics, and who are members of the National, State and Local REALTOR® organizations.
| Reported by the MRIS and Coastal Association of REALTORS | NOTE: UNITS ARE THE "UNITS" SOLD, PENDING ARE UNDER CONTRACT | ||||||||
