Baltimore Metro

September 2023 | 
Home Demand Index: 84 | 
Tier: Slow

Metro Area Overview

Demand for homes in the Baltimore Metro area decreased in August according to the Bright MLS | T3 Home Demand Index. The Index, at 84, was 4.5 percent lower over the month and reflected a Slow pace of buyer activity. Compared with one year earlier, the Index was 22.2 percent lower.
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;
  • 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;

Baltimore | September 2023

Home Demand Index

Demand for homes in the Baltimore Metro area decreased in August according to the Bright MLS | T3 Home Demand Index. The Index, at 84, was 4.5 percent lower over the month and reflected a Slow pace of buyer activity. Compared with one year earlier, the Index was 22.2 percent lower.
Buyer interest in most types of homes fell in August. The Index for luxury single-family homes decreased the most, falling by 18 percent, followed by a 9 percent decrease for mid-market single-family homes. Demand was strongest for luxury condos, which attracted a High level of buyer interest, followed by entry-level condos with Steady demand. Demand was weakest for entry-level single-family homes with buyer interest in the Limited range. The inventory of homes available for sale remained very low in August. The months supply ranged from 1.2 months for mid-market single-family homes to 3.5 months for luxury condos.
Monthly Statistics for September 2023
Home Demand
Index
84
(Slow)
Home Demand Index
from prior month
88
Home Demand Index
from prior year
108
Index change
from prior month
-4.5%
Index change from
same time last year
-22.2%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com