Baltimore Metro

May 2023 |

Home Demand Index: 93 |

Tier: Steady

Metro Area Overview

The Bright MLS | T3 Home Demand Index for the Baltimore Metro area rose in April with the Index moving from Slow to Steady over the month. The Index, at 93, was 5.7 percent higher compare with March but remained well below the level one year earlier.

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;

Market Trend Map

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

Baltimore | May 2023

Home Demand Index

Buyer interest rose for all types of Baltimore Metro area homes over the month. Luxury condos continued to attract a High level of demand. Buyer interest was Slow for entry- and mid-market single-family homes and Steady or Moderate for other types of homes. The months supply of luxury single-family homes was lower in April, moving from 2.3 to two months largely due to an uptick in sales and was flat or only slightly higher for other types of homes. The months supply ranged from 1.2 months for mid-market single-family homes to 3.2 months for luxury condos.

Home Demand
Index

(Steady)

Home Demand Index
from prior month

Home Demand Index
from prior year

128

Index change
from prior month

5.7%

Index change from
same time last year

-27.3%

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Baltimore | April 2023

Home Demand Index

The Bright MLS | T3 Home Demand Index for the Baltimore Metro area increased 1.2 percent in March to 83 reflecting a continued pace of Slow demand. The Index was 32 percent lower than the same month last year.

The Bright MLS | T3 Home Demand Index was down slightly for entry-level single-family homes and townhouses but higher among the other types of homes. Demand rose the most for luxury single-family homes with the Index up by 26 percent in March. Except for the luxury condo segment, demand in all other segments of the market was in the Slow or Steady range. The months supply decreased for all types of homes, mostly reflecting an increase in sales relative to the number of listings on the market. The months supply ranged from 1.1 months for mid-market single-family homes to 3.1 months for luxury condos.

Home Demand
Index

(Slow)

Home Demand Index
from prior month

Home Demand Index
from prior year

122

Index change
from prior month

1.2%

Index change from
same time last year

-32%

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Baltimore | March 2023

Home Demand Index

The Bright MLS | T3 Home Demand Index for the Baltimore Metro area fell 2.5 percent in February to 78, which reflects a Slow pace of activity. The Index was 27.8 percent lower than one year earlier.

The Index for luxury condos rose in February, while buyer interest in all other segments was marginally weaker compared with January. In addition to increasing over the month, demand for luxury condos was also the strongest with the Index reflecting a Moderate pace of buyer activity. Demand was Slow for all other types of homes in the Baltimore Metro area market. The inventory of homes on the market ranged from 1.5 months supply for entry-level condos to 3.1 months for luxury condos. The months supply decreased for each type of home compared with January.

Home Demand
Index

(Slow)

Home Demand Index
from prior month

Home Demand Index
from prior year

108

Index change
from prior month

-2.5%

Index change from
same time last year

-27.8%

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Baltimore | February 2023

Home Demand Index

Demand for homes in the Baltimore Metro area rose in January according to the Bright MLS | T3 Home Demand Index. The Index, at 77, rose 22.2 percent over the month reflecting a Slow pace of buyer activity but was 17.2 percent lower than one year earlier.

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.

Home Demand
Index

(Slow)

Home Demand Index
from prior month

Home Demand Index
from prior year

Index change
from prior month

22.2%

Index change from
same time last year

-17.2%

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Baltimore | January 2023

Home Demand Index

The Bright MLS | T3 Home Demand Index for the Baltimore Metro area fell 20.5 percent to 62 in December, reflecting Limited buyer interest. The Index was 16.2 percent lower than one year earlier when demand was at a Slow pace.

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.

Home Demand
Index

(Limited)

Home Demand Index
from prior month

Home Demand Index
from prior year

Index change
from prior month

-20.5%

Index change from
same time last year

-16.2%

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Baltimore | December 2022

Home Demand Index

The Bright MLS | T3 Home Demand Index for the Baltimore Metro area fell 13.3 percent in November, moving from a Steady to a Slow pace of activity. The HDI was 20.4 percent lower than one year earlier.

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.

Home Demand
Index

(Slow)

Home Demand Index
from prior month

Home Demand Index
from prior year

Index change
from prior month

-13.3%

Index change from
same time last year

-20.4%

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Baltimore | November 2022

Home Demand Index

Demand for Baltimore Metro area homes fell in October according to the Bright MLS | T3 Home Demand Index. The Index decreased 10.9 percent to 90, reflecting a Steady pace of buyer interest, and was 24.4 percent lower than one year earlier.

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.

Home Demand
Index

(Steady)

Home Demand Index
from prior month

101

Home Demand Index
from prior year

119

Index change
from prior month

-10.9%

Index change from
same time last year

-24.4%

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

All reports for the Baltimore Market Area.

List of available data files that include the Baltimore Market Area.

Baltimore | May 2023

Baltimore | April 2023

Baltimore | March 2023