Home prices in Baltimore area rise after a three-month drop

Mortgage

The median sale price for a home in the Baltimore region ticked up in November from October, reversing a three-month slide in prices.

The $264,700 median sale price in the region was up 1.8% from October and 4.2% from a year ago, according to data provided by MarketStats by ShowingTime based on listing activity from Bright MLS, the region’s multiple listing service.

Baltimore homes

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The price was also the highest November price in the past decade. And it was well above the 10-year average sale price of $237,125.

There had been a sustained rise in prices that peaked in June at $285,000 before the late summer reversal when the persistently tight inventory eased somewhat. October marked the first increase in homes for sale since September 2015. Inventories continued to rise in November with 10,027 active listings, up 3.2% from last year.

The number of sales that closed fell 16.7% compared to last year. November marked the third month in a row of declining sales. It was also the largest year-over-year decline since May 2011. New pending sales were also down.

Sellers were getting about 95.8% of their original asking price, up from a year ago.

The highest prices in the region continued to be in Howard County, with a median sale price of $419,950, up 12% from last year. Baltimore City continued to have the lowest sale price, with a median of $133,500, up 6.8% from a year ago.

Median prices also rose in Harford by 5.9% to $251,000, in Baltimore County by 3.1% to $235,000 and in Anne Arundel County by 2.8% to $345,000. The only jurisdiction with a decline was Carroll County, where median prices slipped 5% to $315,000.


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