Baltimore Metro

September 2024 | 
Home Demand Index: 84 | 
Tier: Slow

Metro Area Overview

The Home Demand Index (HDI) for Baltimore this report period stands at 84, indicating a decrease from last month’s 89 and consistent with a similar level last year of 86. This decline suggests a continuation of the market softening, with cautious buyer engagement amidst prevailing economic uncertainties. Market conditions remain influenced by fluctuating economic factors, including mortgage rates and inventory levels.
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 2024

Home Demand Index

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The Home Demand Index (HDI) for Baltimore this report period stands at 84, indicating a decrease from last month’s 89 and consistent with a similar level last year of 86. This decline suggests a continuation of the market softening, with cautious buyer engagement amidst prevailing economic uncertainties. Market conditions remain influenced by fluctuating economic factors, including mortgage rates and inventory levels.
During this report period in Baltimore, entry-level single-family homes saw declining demand, categorized as Limited, with constrained inventory levels. Mid-market single-family homes exhibited modest improvement, moving towards Steady demand, while luxury single-family homes experienced a slight decrease but continued to maintain Moderate buyer interest. Demand for entry-level condos remained steady, supported by low inventory levels. Luxury condos continue to attract strong interest, despite a 15% decrease in the index. Townhouses showed increased demand, indicating steady buyer activity amid tight inventory conditions.
Monthly Statistics for September 2024
Home Demand
Index
84
(Slow)
Home Demand Index
from prior month
89
Home Demand Index
from prior year
86
Index change
from prior month
-5.6%
Index change from
same time last year
-2.3%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com