A 6 month to 6.5-month supply is considered to be a balanced market.
Baltimore City is still feeling the effects of the widely-report ransomware attack with units sold down 12.5 percent from 2018.
"The average and median housing sale prices both continued to climb at reasonable rates in June", continued Maryland REALTORS® President Merry Tobin.
The June statewide average sales price increased to $373,488 from $359,279 in 2018, while median sales price jumped from $306,450 to $316,000.
Added Tobin, "These gains of 4.0 percent and 3.1 percent, respectively, are robust and may, in the long term, have a negative impact on housing affordability."
The Average Sale Price compared to Original List Price for June increased slightly from 97.8 percent to 97.9 percent in 2019.
Maryland monthly housing statistics are compiled by data as reported
by MRIS/Bright MLS. 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.
Please consider The Myers Team your resource for all things real estate. We have over 30 years of real estate experience, specializing in the Montgomery County area. If you are refinancing, want a recommendation, need a service provider or just have a home related question, please give me a call at 301-910-9910 or email me at bobmyersteam@gmail.com.
