May 2025 Report
Baltimore Metro
Baltimore | May 2025
Home Demand Index
The Home Demand Index (HDI) for Baltimore this report period stands at 93, a slight increase from last month’s 92 and higher than last year’s 91. This growth suggests strengthening buyer activity in the region, supported by ongoing demand. Market conditions continue to be shaped by affordability constraints and inventory availability.
Entry-level single-family homes in Baltimore experienced a decline in demand, shifting from slow to limited, likely driven by affordability concerns and limited inventory. Mid-market single-family homes saw a slight improvement, suggesting growing buyer interest. Luxury single-family homes maintained strong demand, reflecting interest from affluent buyers. Entry-level condos experienced stable demand, while luxury condos showed notable growth, indicating ongoing interest from high-end buyers. Townhouses and similar properties experienced steady demand, though inventory remains a constraint.
Monthly Statistics for May 2025
Home Demand
Index
Index
93
(Steady)
Home Demand Index
from prior month
from prior month
92
Home Demand Index
from prior year
from prior year
91
Index change
from prior month
from prior month
1.1%
Index change from
same time last year
same time last year
2.2%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | May 2025
Home Demand Index | Historical Year-over-Year Comparison
The year-over-year comparison for Baltimore’s Home Demand Index (HDI) shows an increase from 91 last year to 93 this report period. This slight improvement indicates a stable yet gradually strengthening market. Market conditions remain influenced by affordability constraints and inventory availability.
Home Demand Index
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | May 2025
Home Demand Map
Buyer interest across Baltimore’s regions generally strengthened during this period. Howard County moved from moderate to high demand, while Harford, Baltimore, Anne Arundel, and Carroll counties experienced steady demand. Meanwhile, Baltimore City continued to show slow demand, reflecting ongoing challenges in urban areas.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | May 2025
Demand and Inventory by Home Type
Entry-level single-family homes in Baltimore experienced a decline in demand, shifting from slow to limited, likely driven by affordability concerns and limited inventory. Mid-market single-family homes saw a slight improvement, suggesting growing buyer interest. Luxury single-family homes maintained strong demand, reflecting interest from affluent buyers. Entry-level condos experienced stable demand, while luxury condos showed notable growth, indicating ongoing interest from high-end buyers. Townhouses and similar properties experienced steady demand, though inventory remains a constraint.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | May 2025
Single Family Home Below $360k
The index for entry-level single-family homes in Baltimore stands at 68, a slight decrease from last month’s 73 and also lower than last year’s 70. This decline suggests that buyer interest may be softening, likely due to persistent affordability challenges. The year-over-year and month-over-month drops highlight continued pressure in this segment.
Monthly Statistics for Single Family Home Below $360k
Home Demand
Index
Index
68
(Limited)
Home Demand Index
from prior month
from prior month
73
Home Demand Index
from prior year
from prior year
70
Months of
inventory
inventory
1.9
Average daily inventory last month
493
Inventory sold
last month
last month
262
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | May 2025
Single Family Home $360k - $815k
The index for mid-range single-family homes in Baltimore stands at 92, a moderate increase from last month’s 87 and slightly above last year’s 91. This improvement suggests strengthening buyer interest, potentially driven by seasonal trends or improving economic conditions. The year-over-year and month-over-month gains point to growing momentum in this segment, despite ongoing affordability and inventory concerns.
Monthly Statistics for Single Family Home $360k - $815k
Home Demand
Index
Index
92
(Steady)
Home Demand Index
from prior month
from prior month
87
Home Demand Index
from prior year
from prior year
91
Months of
Inventory
Inventory
1.8
Average daily inventory last month
1,257
Inventory sold
last month
last month
698
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | May 2025
Single Family Home Above $815k
The index for luxury single-family homes in Baltimore has risen to 116, up from last month’s 102 but slightly below last year’s 117. This increase suggests renewed buyer interest in the high-end segment, potentially reflecting confidence in the luxury market. However, affordability and inventory constraints remain influential.
Monthly Statistics for Single Family Home Above $815k
Home Demand
Index
Index
116
(Moderate)
Home Demand Index
from prior month
from prior month
102
Home Demand Index
from prior year
from prior year
117
Months of
Inventory
Inventory
2.7
Average daily inventory last month
489
Inventory sold
last month
last month
181
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | May 2025
Condo Below $409k
The index for entry-level condos in Baltimore stands at 133, nearly unchanged from last month’s 134 but significantly higher than last year’s 108. This stability indicates sustained buyer interest in affordable condos, driven by budget-conscious buyers and investors. The strong year-over-year increase highlights the segment’s resilience.
Monthly Statistics for Condo Below $409k
Home Demand
Index
Index
133
(High)
Home Demand Index
from prior month
from prior month
134
Home Demand Index
from prior year
from prior year
108
Months of
Inventory
Inventory
2.9
Average daily inventory last month
477
Inventory sold
last month
last month
163
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | May 2025
Condo Above $409k
The index for luxury condos in Baltimore has surged to 170, up from last month’s 161 and significantly above last year’s 123. This robust growth reflects heightened interest among affluent buyers, possibly driven by favorable economic conditions. The continued year-over-year improvement underscores the strength of this segment.
Monthly Statistics for Condo Above $409k
Home Demand
Index
Index
170
(High)
Home Demand Index
from prior month
from prior month
161
Home Demand Index
from prior year
from prior year
123
Months of
Inventory
Inventory
3.8
Average daily inventory last month
128
Inventory sold
last month
last month
34
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | May 2025
Townhouse/Rowhouse/Twin All prices
Townhouse/
Rowhouse/Twin
All prices
The index for townhouses, rowhouses, and twins in Baltimore stands at 94, a slight decline from last month’s 96 but consistent with last year’s 93. This minor decrease suggests stable buyer interest in these home types, likely due to their affordability and appeal in urban settings. Limited inventory continues to maintain competitive market conditions.
Monthly Statistics for Townhouse/Rowhouse/TwinAll prices
Home Demand
Index
Index
94
(Steady)
Home Demand Index
from prior month
from prior month
96
Home Demand Index
from prior year
from prior year
93
Months of
Inventory
Inventory
2.7
Average daily inventory last month
2,467
Inventory sold
last month
last month
924
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Note
1. This report is generated with data from the following counties:
- Baltimore Metro – Anne Arundel, MD; Baltimore City, MD; Baltimore, MD; Carroll, MD; Harford, MD; Howard, MD;
- DelMar Coastal – Somerset, MD; Sussex, DE; Wicomico, MD; Worcester, MD;
- Maryland Eastern Shore – Caroline, MD; Cecil, MD; Dorchester, MD; Kent, MD; Queen Annes, MD; Talbot, MD;
2. This report is for the May 2025 period with data collected from the previous month.
Released: May 9, 2025
Reference ID: 2239
Baltimore | May 2025
Home Demand Map (Zip Codes)
Buyer interest across Baltimore’s regions generally strengthened during this period. Howard County moved from moderate to high demand, while Harford, Baltimore, Anne Arundel, and Carroll counties experienced steady demand. Meanwhile, Baltimore City continued to show slow demand, reflecting ongoing challenges in urban areas.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com