January 2025 Report
Baltimore Metro
Baltimore | January 2025
Home Demand Index
The Home Demand Index (HDI) for Baltimore stands at 55 this report period, a sharp decrease from last month’s 74 and slightly below last year’s 56. This decline indicates a significant cooling in buyer activity compared to the previous month, reflecting a subdued market environment. Persistent inventory constraints and fluctuating economic conditions continue to shape the market dynamics.
Entry-level single-family homes show stagnant demand, constrained by affordability challenges and low inventory. Luxury condos maintain the highest buyer interest, though demand has slightly cooled from the previous month. Mid-market and luxury single-family homes reflect the most significant declines, while entry-level condos shifted from slow to limited demand. Townhouses also moved from slow to limited demand. Overall, during this report period, the housing market is experiencing a decline in demand, leading to mixed market conditions across various home types.
Monthly Statistics for January 2025
Home Demand
Index
Index
55
(Limited)
Home Demand Index
from prior month
from prior month
74
Home Demand Index
from prior year
from prior year
56
Index change
from prior month
from prior month
-25.7%
Index change from
same time last year
same time last year
-1.8%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | January 2025
Home Demand Index | Historical Year-over-Year Comparison
The year-over-year comparison for Baltimore’s HDI shows a minimal change, moving from 56 last year to 55 this report period. This slight decline reflects stable but constrained buyer activity in the region. The flat trend indicates ongoing challenges related to inventory and affordability despite broader economic adjustments.
Home Demand Index
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | January 2025
Home Demand Map
In the Baltimore Metro area, buyer interest in Baltimore County, Harford County, Howard County, and Anne Arundel County changed from slow to limited demand. Meanwhile, Baltimore City and Carroll County remain in the limited demand category. Coastal areas, such as DelMar Coastal, shifted from steady to limited demand, while the Maryland Eastern Shore moved from slow to limited demand, indicating a decline in buyer interest. These trends suggest a continued shift towards more subdued market conditions across the region.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | January 2025
Demand and Inventory by Home Type
Entry-level single-family homes show stagnant demand, constrained by affordability challenges and low inventory. Luxury condos maintain the highest buyer interest, though demand has slightly cooled from the previous month. Mid-market and luxury single-family homes reflect the most significant declines, while entry-level condos shifted from slow to limited demand. Townhouses also moved from slow to limited demand. Overall, during this report period, the housing market is experiencing a decline in demand, leading to mixed market conditions across various home types.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | January 2025
Single Family Home Below $360k
The entry-level index for single-family homes is 56, a significant drop from last month’s 68 but slightly above last year’s 50. This decline points to cooling buyer interest, likely influenced by affordability pressures. Limited inventory continues to constrain the market, maintaining competitiveness within this segment.
Monthly Statistics for Single Family Home Below $360k
Home Demand
Index
Index
56
(Limited)
Home Demand Index
from prior month
from prior month
68
Home Demand Index
from prior year
from prior year
50
Months of
inventory
inventory
2
Average daily inventory last month
531
Inventory sold
last month
last month
266
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | January 2025
Single Family Home $360k - $815k
The mid-range single-family home index is 50, down from 71 last month and slightly below last year’s 51. This decline indicates a softening in buyer interest both month-over-month and year-over-year. Constrained inventory remains a factor, sustaining moderate competitiveness in this price range.
Monthly Statistics for Single Family Home $360k - $815k
Home Demand
Index
Index
50
(Limited)
Home Demand Index
from prior month
from prior month
71
Home Demand Index
from prior year
from prior year
51
Months of
Inventory
Inventory
1.5
Average daily inventory last month
1,080
Inventory sold
last month
last month
729
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | January 2025
Single Family Home Above $815k
The luxury single-family home index stands at 35, reflecting a sharp drop from last month’s 59 and significantly below last year’s 44. This decrease highlights weakening buyer interest in high-end properties, potentially due to economic uncertainty. Despite the decline, limited inventory continues to influence market dynamics.
Monthly Statistics for Single Family Home Above $815k
Home Demand
Index
Index
35
(Limited)
Home Demand Index
from prior month
from prior month
59
Home Demand Index
from prior year
from prior year
44
Months of
Inventory
Inventory
2
Average daily inventory last month
318
Inventory sold
last month
last month
156
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | January 2025
Condo Below $403k
The entry-level condo index is 69, a sharp decrease from last month’s 91 and slightly below last year’s 77. This trend suggests softening buyer interest, likely driven by affordability concerns. The overall demand in this segment remains resilient, supported by constrained inventory levels.
Monthly Statistics for Condo Below $403k
Home Demand
Index
Index
69
(Limited)
Home Demand Index
from prior month
from prior month
91
Home Demand Index
from prior year
from prior year
77
Months of
Inventory
Inventory
2.5
Average daily inventory last month
344
Inventory sold
last month
last month
137
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | January 2025
Condo Above $403k
The luxury condo index is 75, down significantly from last month’s 114 but higher than last year’s 65. This reflects a cooling in buyer interest month-over-month, though the year-over-year improvement signals sustained demand. Inventory constraints continue to support competitive conditions in the luxury condo market.
Monthly Statistics for Condo Above $403k
Home Demand
Index
Index
75
(Slow)
Home Demand Index
from prior month
from prior month
114
Home Demand Index
from prior year
from prior year
65
Months of
Inventory
Inventory
3.3
Average daily inventory last month
88
Inventory sold
last month
last month
27
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | January 2025
Townhouse/Rowhouse/Twin All prices
Townhouse/
Rowhouse/Twin
All prices
The index for townhouses, rowhouses, and twins is 61, a drop from last month’s 82 and slightly below last year’s 64. This decline suggests softening buyer interest in this segment, likely due to affordability pressures and economic uncertainties. Limited inventory sustains a competitive market despite reduced demand.
Monthly Statistics for Townhouse/Rowhouse/TwinAll prices
Home Demand
Index
Index
61
(Limited)
Home Demand Index
from prior month
from prior month
82
Home Demand Index
from prior year
from prior year
64
Months of
Inventory
Inventory
2.6
Average daily inventory last month
2,359
Inventory sold
last month
last month
909
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Note
1. This report is generated with data from the following counties:
- 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;
2. This report is for the January 2025 period with data collected from the previous month.
Released: January 10, 2025
Reference ID: 2173
Baltimore | January 2025
Home Demand Map (Zip Codes)
In the Baltimore Metro area, buyer interest in Baltimore County, Harford County, Howard County, and Anne Arundel County changed from slow to limited demand. Meanwhile, Baltimore City and Carroll County remain in the limited demand category. Coastal areas, such as DelMar Coastal, shifted from steady to limited demand, while the Maryland Eastern Shore moved from slow to limited demand, indicating a decline in buyer interest. These trends suggest a continued shift towards more subdued market conditions across the region.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com