Baltimore Metro

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 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 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.

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.

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.

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.