The Bright MLS | T3 Home Demand Index for the Baltimore Metro area rose 4.1 percent in April marking the fourth consecutive monthly increase since the seasonal low in December. The Index, at 127, reflected a Moderate pace of buyer demand.
The market trend line, below, provides a high-level monthly overview of the Home Demand Index for each of the metro market areas within the Greater Baltimore Metro Area. The Home Demand Index is baselined at 100, with 90-110 indicating a steady market. Index values above 110 indicate moderate and high activity while Index values below 90 indicate slower or limited activity. For more information for a given period of time, click on any point on the map to pull up the monthly report.
Metro Market Trend Data by Bright MLS | T3 Home Demand Index
Each of the market areas listed above are defined as follows:
Baltimore Metro – Anne Arundel, MD; Baltimore City, MD; Baltimore, MD; Carroll, MD; Harford, MD; Howard, MD;
The Market Trend Map for the Baltimore Metro pulls the county map from the monthly reports and combines to provide a time-lapse of the overall market. Use the navigation at the bottom to toggle between months.
Baltimore Metro County-Level Market Trend Map | Home Demand Index
The Bright MLS | T3 Home Demand Index for the Baltimore Metro area rose 4.1 percent in April marking the fourth consecutive monthly increase since the seasonal low in December. The Index, at 127, reflected a Moderate pace of buyer demand.
Demand remained the strongest for higher-priced single-family homes and higher-priced condos, both well above the threshold indicating a High level of buyer interest. Buyer interest in lower-priced single-family homes decreased from an already low level the month before. Demand increased the most for lower-priced condos, rising from Steady demand in March to Moderate demand in April. The months supply among each type of home changed very little over the month, ranging from 0.8 months for mid-priced single-family homes to 1.7 months for higher-priced condos.
The Bright MLS | T3 Home Demand Index for the Baltimore Metro market area rose 12 percent in March to 121 reflecting a Moderate pace of buyer demand. The Index was in the Steady range in February.
Demand increased for each type of home in March except condos, where buyer interest was down marginally over the month in each of the two price segments. The Index increased the most for higher-priced single-family homes, up by 42 percent compared with February. While demand for higher-priced condos decreased, this segment, along with higher-priced single-family homes, recorded the strongest buyer interest. Demand for lower-priced single-family homes remained the weakest with Limited buyer interest, although demand did increase over the month. The months supply decreased for all types of homes reflecting an increase in sales that further depleted an already low inventory of homes. The months supply ranged from 0.8 months for mid-priced single-family homes and lower-priced condos to 1.7 months for higher-priced condos.
Demand for homes in the Baltimore Metro area rose in February, according to the Bright MLS | T3 Home Demand Index. The Index, at 108, increased by slightly more than 17 percent over the month, remaining in the Steady range.
Demand increased for each type of home in February except lower-priced single-family, which was down marginally over the month. Buyer interest rose the most for mid- and higher-priced single-family homes. Demand was strongest in the higher-priced condo and higher-priced single-family segments, each in the High range in February. Demand for lower-priced single-family homes remained the weakest with Limited buyer interest. The months supply of inventory was down marginally for all types of homes, except higher-priced single-family, which was up slightly. The months supply ranged from 1.1 months for mid-priced single-family homes to 2.2 months for higher-priced condos.
Demand for homes in the Baltimore Metro area rose in January, reversing an end-of-year decline in activity. The Bright MLS | T3 Home Demand Index rose slightly more than 24 percent over the month to 92, a level reflecting a Steady pace of demand. The Index was 14 percent below the level one year earlier signifying that demand in 2022 is starting from a somewhat lower level than 2021.
Demand increased for each type of home in January with the largest month-to-month gains in the higher-priced condo and townhouse segments. Buyer interest was strongest in the higher-priced condo and higher-priced single-family segments. Demand for lower-priced single-family homes remained the weakest. The months supply of inventory rose for all types of homes, except lower-priced condos, where it was down slightly. The months supply ranged from 1.1 months for mid-priced single-family homes to 2.6 months for higher-priced condos.
The Bright MLS | T3 Home Demand Index for the Baltimore Metro area fell in December, down by slightly more than 25 percent compared with the November reading. The Index, at 73, reflected a Slow pace of demand for homes and a decrease in buyer interest from a Moderate pace the month before. The December Index was 17 percent lower than one year earlier.
In December, demand fell for each type of home with the largest month-to-month decline in the mid-priced and higher-priced single-family segments. Lower-priced single-family homes and lower-priced condos exhibited the weakest demand. The higher-priced condo segment was the only type of Baltimore Metro area home to record a High level of buyer interest. The months supply of inventory was flat, or down, for each home type mostly due to a decline in the number of listings. The months supply ranged from 0.9 months for mid-priced single-family homes to 2.3 months for higher-priced condos.
The Bright MLS | T3 Home Demand Index for the Baltimore Metro area fell by nearly 18 percent in November to a reading of 98. The Index signaled a Steady pace of buyer demand compared with a Moderate pace in October.
Demand remained in the High range for higher-priced single-family homes and higher-priced condos. Lower-priced single-family and lower-priced condos exhibited the weakest demand. Buyer interest for all types of homes declined in November compared with October. The Index decreased the most for higher-priced single-family homes with a drop of 25 percent. The monthly supply of inventory was flat, or down slightly, for each home type due to a decline in the number of listings in November. The monthly supply ranged from 1.3 months for mid-priced single-family homes to 2.9 months for higher-priced condos.
The Bright MLS | T3 Home Demand Index for the Baltimore Metro area decreased marginally in October to 119, reflecting a Moderate level of buyer interest. The Index fell by 1.7 percent over the month and was slightly more than 12 percent below the level one year earlier.
Demand was strongest for higher-priced single-family homes and higher-priced condos, each in the High demand category. Although condo and townhouse demand softened in October, buyer interest in higher-priced single-family homes fell the most over the month, down by 12 percent. The months’ supply of inventory changed little over the month for five of the six types of homes tracked by the Index. However, the monthly supply of higher-priced condos rose to 3.2 from 2.8 and was also greater than any other segment. The supply was lowest for mid-priced single-family homes and lower-priced condos, both at 1.3 months.