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Baltimore | June 2022

Home Demand Index

Demand for homes in the Baltimore Metro area eased in May according to the Bright MLS | T3 Home Demand Index. The Index decreased by 7.9 percent and remained in the Moderate demand category. One year ago, demand was in the High category.
Demand eased among all Baltimore Metro market segments, except higher-priced condos, which recorded a small gain over the month. Buyer interest in lower-priced single-family homes and lower-priced condos decreased the most. The Index was highest for higher-priced single-family homes and higher-priced condos., both of which remained in the High demand category. Buyer interest continued to be weakest for lower-priced single-family homes with Limited demand. The months supply among each type of home changed very little over the month, ranging from 0.9 months for mid-priced single-family homes and lower-priced condos to 1.9 months for higher-priced condos.
Monthly Statistics for June 2022
Home Demand
Index
117
(Moderate)
Home Demand Index
from prior month
127
Home Demand Index
from prior year
149
Index change
from prior month
-7.9%
Index change from
same time last year
-21.5%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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Baltimore | June 2022

Home Demand Index | Historical Year-over-Year Comparison

Demand for homes decreased in May following a four-month run of increasing buyer interest during the active spring homebuying market. A combination of rising mortgage rates and continued increases in home prices resulted in a lower overall level of buyer demand in 2022 compared with last year. In May, the Index was more than 21 percent below the level one year earlier.

Home Demand Index

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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Baltimore | June 2022

Home Demand Map

Demand for homes across the Baltimore Metro area was High in Baltimore and Howard counties and in the Moderate range in Anne Arundel, Carroll and Harford counties. Buyer interest in Baltimore City homes was Slow. Demand was High in the Maryland Eastern Shore area and Moderate in the DelMar Coastal region. Across the Greater Baltimore area, demand was High in 40 percent of ZIP codes, down marginally from April. Slightly more than one-quarter of ZIP codes recorded Slow or Limited demand.
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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Baltimore | June 2022

Demand and Inventory by Home Type

Demand eased among all Baltimore Metro market segments, except higher-priced condos, which recorded a small gain over the month. Buyer interest in lower-priced single-family homes and lower-priced condos decreased the most. The Index was highest for higher-priced single-family homes and higher-priced condos., both of which remained in the High demand category. Buyer interest continued to be weakest for lower-priced single-family homes with Limited demand. The months supply among each type of home changed very little over the month, ranging from 0.9 months for mid-priced single-family homes and lower-priced condos to 1.9 months for higher-priced condos.
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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Baltimore | June 2022

Single Family Home Below $250k

Buyer interest in lower-priced single-family homes decreased from an already low level in May. The Index, at 34, reflected Limited demand for homes in this segment. With an inventory of fewer than 200 homes on the market across the Baltimore Metro area, buyers at this price point likely had a difficult time finding a home.
Monthly Statistics for Single Family Home Below $250k
Home Demand
Index
34
(Limited)
Home Demand Index
from prior month
42
Home Demand Index
from prior year
66
Months of
inventory
1.2
Average daily inventory last month
183
Inventory sold
last month
158
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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Baltimore | June 2022

Single Family Home $250k - $590k

The Bright MLS | T3 Home Demand Index for mid-priced single-family homes, at 121, reflected a Moderate level of demand, a small decrease from April’s Index of 133. The Index also was 28 percent lower than one year earlier. Inventory conditions remained remarkably tight with a months supply of just 0.9, up marginally from April.
Monthly Statistics for Single Family Home $250k - $590k
Home Demand
Index
121
(Moderate)
Home Demand Index
from prior month
133
Home Demand Index
from prior year
167
Months of
Inventory
0.9
Average daily inventory last month
1,002
Inventory sold
last month
1,060
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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Baltimore | June 2022

Single Family Home Above $590k

Demand for higher-priced single-family homes has been resilient during the spring homebuying rush. In May, the Index was down slightly to 252 but remained in the High demand category. With just a one-month supply of homes on the market, would-be buyers were challenged when searching for homes. In fact, the months supply was down marginally in May compared with April.
Monthly Statistics for Single Family Home Above $590k
Home Demand
Index
252
(High)
Home Demand Index
from prior month
263
Home Demand Index
from prior year
270
Months of
Inventory
1
Average daily inventory last month
605
Inventory sold
last month
578
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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Baltimore | June 2022

Condo Below $310k

Buyer interest in lower-priced condos eased in May with the Index decreasing by 16 percent to 97. Demand moved from a Moderate to a Steady pace over the month. Even with a somewhat lower level of buyer interest, the months supply remained at just 0.9, unchanged from April and up marginally from the spring low of 0.8 months in March.
Monthly Statistics for Condo Below $310k
Home Demand
Index
97
(Steady)
Home Demand Index
from prior month
115
Home Demand Index
from prior year
125
Months of
Inventory
0.9
Average daily inventory last month
176
Inventory sold
last month
189
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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Baltimore | June 2022

Condo Above $310k

Unlike other segments of the Baltimore Metro area market, demand for higher-priced condos rose over the month and remained well above the threshold indicating a High level of buyer interest. The months supply rose to 1.9 months from 1.7 months in April due largely to a small increase in the inventory of homes for sale.
Monthly Statistics for Condo Above $310k
Home Demand
Index
261
(High)
Home Demand Index
from prior month
240
Home Demand Index
from prior year
283
Months of
Inventory
1.9
Average daily inventory last month
137
Inventory sold
last month
71
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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Baltimore | June 2022

Townhouse/Rowhouse/Twin All prices

Townhouse/
Rowhouse/Twin
All prices

The Bright MLS | T3 Home Demand Index for the townhouse segment decreased to 123, a reading in the Moderate range of demand. Demand was in the High category in April. The months supply of homes was unchanged over the month as both inventory and sales rose in tandem.
Monthly Statistics for Townhouse/Rowhouse/TwinAll prices
Home Demand
Index
123
(Moderate)
Home Demand Index
from prior month
138
Home Demand Index
from prior year
152
Months of
Inventory
1.2
Average daily inventory last month
1,834
Inventory sold
last month
1,560
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 June 2022 period with data collected from the previous month.
Released: June 11, 2022
Reference ID: 1629

Baltimore | June 2022

Home Demand Map (Zip Codes)

Demand for homes across the Baltimore Metro area was High in Baltimore and Howard counties and in the Moderate range in Anne Arundel, Carroll and Harford counties. Buyer interest in Baltimore City homes was Slow. Demand was High in the Maryland Eastern Shore area and Moderate in the DelMar Coastal region. Across the Greater Baltimore area, demand was High in 40 percent of ZIP codes, down marginally from April. Slightly more than one-quarter of ZIP codes recorded Slow or Limited demand.
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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