AUGUST 2021 / GREATER BALTIMORE METRO / REAL ESTATE MARKET REPORT
○ The Bright MLS T3 Home Demand Index for the Baltimore Metro market area rose slightly between July and August to a reading of 129, reflecting a Moderate level of buyer demand. The Index was just over six percent below the level one year earlier.
○ Demand for higher-priced single-family homes and higher-priced condos remains significantly stronger than any other type of home.
○ Overall, buyer demand for each type of home was little changed from the previous month.
○ Inventory expanded marginally for five of the six types of homes tracked by the Index, though still remains at relatively low levels. In contrast to other segments, the available inventory in the relatively small higher-priced condo segment fell in August. The supply was lowest for mid-priced single-family homes at 1.1 months and greatest for higher-priced condos at 2.4 months.
○ Median Sales Price: The median sales price ($345K) hit an August ten-year high. Prices were up 5.9% compared to a year ago.
○ Overall Sales: There were 4,585 total sales, the highest number of August sales in 10 years.
○ Median Days on Market: The typical home sold in 7 days in August, 1 day slower than in July.
View report for August 2021 for the Baltimore Metro region, courtesy of Bright MLS
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