Baltimore Metro

Demand for each type of home rose in January with the greatest increase in luxury condos priced over $375,000 followed by demand for luxury single-family homes over $750,000. In addition to increasing the most over the month, demand for luxury condos was also the strongest with the Index reflecting Steady demand. Demand was Limited for entry-level single-family homes under $330,000 and in the Slow range for all other types of homes. The months supply ranged from 1.8 months for entry-level condos to 3.7 months for luxury condos.

The December Index was lower for each type of home compared with the month before. Demand for higher-priced single-family homes and higher-priced condos fell the most. Buyer interest was strongest for higher-priced condos, where demand was in the Moderate range, followed by higher-priced single-family homes where demand was Steady. All other segments were in the Slow or Limited demand category. The months supply for each type of home fell in December mostly due to a decrease in the number of listings available for sale. The months supply ranged from 1.6 months for lower-priced condos to 2.4 months for townhouses.

The Bright MLS | T3 Home Demand Index was lower for each type of home compared with the month before. The largest decreases in the Index were among the single-family segments, led by lower-priced single-family homes with a 25 percent decline over the month. Buyer interest remained strongest for higher-priced single-family homes and higher-priced condos, both of which were in the High demand category. Demand for mid-priced single-family homes, lower-priced condos and townhouses was Slow over the month. The months supply rose for all types of homes except lower-priced single-family homes. The inventory of homes for sale ranged from 1.9 months supply for mid-priced single-family homes to 3.1 months for higher-priced condos.

Demand eased among all types of homes in October. The Index for mid-priced and higher-priced single-family homes, along with higher-priced condos and townhouses, decreased by more than 10 percent over the month. Buyer interest was strongest for higher-priced single-family homes and higher-priced condos, both of which remained in the High demand category. The months supply rose for all types of homes except higher-priced condos. The inventory of homes for sale ranged from a 1.8 months supply for mid-priced single-family homes to 2.5 months for higher-priced single-family homes. The months supply rose the most for higher-priced single-family homes, up from 1.8 months in September to 2.5 months.

Among the types of homes tracked by the Bright MLS | T3 Home Demand Index, buyer interest was greatest for higher-priced single-family homes and higher-priced condos, each remaining in the High demand range. Demand softened for each segment of the market in September with the largest month-to-month declines in higher-priced single-family homes, and each of the condo segments. The months supply rose for all segments, other than condos, reflecting a lower level of sales and little change in the number of listings on the market. The months supply ranged from 2.2 months for townhouses to just 1.2 months for lower-priced condos.

Buyer interest was greatest for higher-priced single-family homes and higher-priced condos, both of which remained in the High demand category. Demand for mid-priced single-family homes and townhouses remained in the Moderate range. Lower-priced single-family homes continued to exhibit the weakest demand with Limited buyer interest. Although the Index for higher-priced condos was up marginally in August, all other segments recorded softer demand over the month. The months supply was flat or fell only marginally over the month for each type of home. The inventory of homes for sale ranged from a 1.3 months supply for mid-priced single-family homes and lower-priced condos to 2.4 months for higher-priced condos.