Baltimore Metro

November 2021 |

Home Demand Index: 119 |

Tier: Moderate

Metro Area Overview

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.

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 | November 2021

Home Demand Index

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.

Home Demand
Index

119

(Moderate)

Home Demand Index
from prior month

121

Home Demand Index
from prior year

136

Index change
from prior month

-1.7%

Index change from
same time last year

-12.5%

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Baltimore | October 2021

Home Demand Index

Demand for homes in the Baltimore Metro market area decreased in September, according to the Bright MLS | T3 Home Demand Index. The Index was six percent lower, with a reading of 121 reflecting a Moderate level of demand. Compared to one year earlier, demand was nearly 12 percent lower.

Demand for lower-priced single-family homes was the weakest in September and the strongest demand was for higher-priced single-family homes and higher-priced condos. While the Index for higher-priced condos rose over the month, all other market segments were flat or down marginally compared with August. In September, the months’ supply of inventory rose for each of the six types of homes tracked by the Index. The supply was lowest for mid-priced single-family homes at 1.2 months and greatest for higher-priced condos at 2.8 months.

Home Demand
Index

121

(Moderate)

Home Demand Index
from prior month

129

Home Demand Index
from prior year

137

Index change
from prior month

-6.2%

Index change from
same time last year

-11.7%

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Baltimore | September 2021

Home Demand Index

The Bright MLS | T3 Home Demand Index for the Baltimore Metro market area rose slightly in August to a reading of 129, reflecting a Moderate level of buyer demand. The Index was just over six percent below the level one year earlier.

In August, demand for higher-priced single-family homes and higher-priced condos was significantly stronger than any other type of home in the Baltimore Metro area. Overall, buyer demand for each type of home was little changed from the previous month. The month’s supply of inventory rose marginally for five of the six types of homes tracked by the Index. In contrast to other segments, the month’s supply in the relatively small higher-priced condo segment fell in August. The supply was lowest for mid-priced single-family homes at 1.1 months and greatest for higher-priced condos at 2.4 months.

Home Demand
Index

129

(Moderate)

Home Demand Index
from prior month

124

Home Demand Index
from prior year

138

Index change
from prior month

Index change from
same time last year

-6.5%

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Baltimore | August 2021

Home Demand Index

Buyer interest in Baltimore Metro area homes fell nearly 15 percent in July according to the Bright MLS | T3 Home Demand Index. The Index, at 124, was in the Moderate category, reflecting above-average demand, following four months of High demand at the peak of the spring market. Compared to one year earlier, the Index was 12 percent lower.

Demand softened among each type of home tracked by the Bright MLS | T3 Home Demand Index. Higher-priced single-family homes and higher-priced condos continued to record the strongest demand. In contrast, the demand for lower-priced single-family homes remained the weakest among the six types of homes tracked by the Index. There was little relief for buyers searching for a home, however. The months supply ranged from one month for mid-priced single-family homes to just 2.9 months for higher-priced condos.

Home Demand
Index

124

(Moderate)

Home Demand Index
from prior month

145

Home Demand Index
from prior year

141

Index change
from prior month

-14.5%

Index change from
same time last year

-12.1%

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Baltimore | July 2021

Home Demand Index

Demand for homes in the Baltimore MLS market area remained in the High range despite a small decline in June. The Bright MLS | T3 Home Demand Index fell by nearly three percent over the month to a reading of 145. Compared with one year earlier, the Index was two percent higher.

Consistent with the past several months, the lower-priced single-family segment exhibited the weakest demand in June, although the Index rose slightly over the month. Demand for condos rose marginally, while buyer interest in mid-priced single-family homes declined. Among all types of homes, higher-priced single-family homes and condos exhibited the strongest buyer interest. Inventory conditions remained extremely tight among all types of homes ranging from 0.7 months supply for mid-priced single-family homes to 2.1 months supply for higher-priced condos. While the months supply for each condo segment fell, inventory conditions were little changed among other types of homes.

Home Demand
Index

145

(High)

Home Demand Index
from prior month

149

Home Demand Index
from prior year

142

Index change
from prior month

-2.7%

Index change from
same time last year

2.1%

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Baltimore | June 2021

Home Demand Index

The Bright MLS | T3 Home Demand Index for the Baltimore MLS market area fell three percent in May to a reading of 148. Although declining marginally over the month, May marked the third consecutive month of High buyer demand. The Index was 10 percent higher than one year earlier although the May 2020 reading was influenced by restrained market activity during the early stages of the pandemic.

Among the six types of homes tracked by the Index, only the lower-priced single-family segment exhibited softness with Limited demand in May, continuing a months-long trend. Demand for single-family homes priced above $590,000 and condos priced above $310,000 was extraordinarily strong. Inventory conditions remained tight among all types of homes ranging from a 0.8 months supply for mid-priced single-family homes to a 2.4 months supply for higher-priced condos. Overall, the months supply was little changed for each type of home compared with April.

Home Demand
Index

148

(High)

Home Demand Index
from prior month

153

Home Demand Index
from prior year

134

Index change
from prior month

-3.3%

Index change from
same time last year

10.4%

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Baltimore | May 2021

Home Demand Index

The Bright MLS | T3 Home Demand Index for the Baltimore MLS market area rose 12 percent in April to 153, a reading reflecting a High level of buyer demand. Demand was 56 percent higher than one year earlier, although a comparison with April 2020 largely reflects the sharp decline in demand and market disruptions in the early months of the pandemic.

Except for lower-priced single-family homes, demand rose in all segments of the market in April. Demand was strongest for higher-priced single-family and condo properties while lower-priced single-family homes continued a pattern of subdued demand. The month’s supply of homes ranged from a low of 0.8 for mid-priced single-family homes to a high of just 2.7 months for higher-priced condos.

Home Demand
Index

153

(High)

Home Demand Index
from prior month

137

Home Demand Index
from prior year

Index change
from prior month

11.7%

Index change from
same time last year

56.1%

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

All reports for the Baltimore Market Area.

Baltimore | November 2021

Baltimore | October 2021

Baltimore | September 2021

Baltimore | August 2021

Baltimore | July 2021

Baltimore | June 2021

Baltimore | May 2021

Baltimore | April 2021

Baltimore | March 2021

Baltimore | February 2021

Baltimore | January 2021

Baltimore | December 2020

Baltimore | November 2020

Baltimore | October 2020