November 2025 Report
Baltimore Metro
Baltimore | November 2025
Home Demand Index
The Home Demand Index (HDI) for the Baltimore metro area stands at 86 for this report period, down from 90 last month but above the 75 recorded a year ago. This reading keeps the market within the Slow demand range, consistent with typical late-year cooling and reduced buyer urgency. The year-over-year increase, however, underscores a more stable demand environment than last fall, suggesting that while affordability and rate pressures persist, underlying buyer interest has strengthened compared to 2024.
Demand across Baltimore’s home types shows broad-based moderation this period. Entry-level single-family homes recorded a Home Demand Index of 70, down from 77 last month but above last year’s 67, highlighting ongoing affordability constraints for first-time buyers. Mid-range single-family homes declined to 85 from 88, remaining above last year’s 75, indicating steady move-up activity. Luxury single-family homes edged down to 98 from 105, yet remain well above last year’s 73, reflecting persistent high-end engagement. Entry-level condos posted an index of 103, down from 110 but higher than last year’s 95, while luxury condos held firm at 165, sustaining strong demand. Townhouses decreased to 89 from 91, still above last year’s level, signaling mild seasonal cooling in attached-home demand. Overall, demand is moderating compared with last month but remains elevated relative to last year across most segments.
Monthly Statistics for November 2025
Home Demand
Index
Index
86
(Slow)
Home Demand Index
from prior month
from prior month
90
Home Demand Index
from prior year
from prior year
75
Index change
from prior month
from prior month
-4.4%
Index change from
same time last year
same time last year
14.7%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | November 2025
Home Demand Index | Historical Year-over-Year Comparison
Over the past 12 months, the Home Demand Index for Baltimore has climbed from 75 last November to 86 in the current report period. Although the index declined from 90 last month, the substantial year-over-year increase points to a market that has regained some stability and buyer confidence since last fall’s lower baseline. The trend indicates gradual recovery across the year, with periodic softening reflecting seasonal influences and affordability dynamics.
Home Demand Index
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | November 2025
Home Demand Map
Regional demand across the Baltimore metro remains mixed this month. Howard County continues to lead with moderate buyer activity, maintaining its position as the metro’s most competitive submarket. Harford, Baltimore and Anne Arundel counties remain steady, while Carroll county has eased into the slow range. Baltimore City continues to show limited demand, reflecting affordability challenges and cautious urban buyer sentiment.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | November 2025
Demand and Inventory by Home Type
Demand across Baltimore’s home types shows broad-based moderation this period. Entry-level single-family homes recorded a Home Demand Index of 70, down from 77 last month but above last year’s 67, highlighting ongoing affordability constraints for first-time buyers. Mid-range single-family homes declined to 85 from 88, remaining above last year’s 75, indicating steady move-up activity. Luxury single-family homes edged down to 98 from 105, yet remain well above last year’s 73, reflecting persistent high-end engagement. Entry-level condos posted an index of 103, down from 110 but higher than last year’s 95, while luxury condos held firm at 165, sustaining strong demand. Townhouses decreased to 89 from 91, still above last year’s level, signaling mild seasonal cooling in attached-home demand. Overall, demand is moderating compared with last month but remains elevated relative to last year across most segments.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | November 2025
Single Family Home Below $370k
The index for entry-level single-family homes in Baltimore stands at 70 this month, down from 77 last month but slightly above last year’s 67. The month-over-month decrease indicates a modest cooling in buyer interest, consistent with seasonal slowing late in the year. However, the year-over-year improvement suggests demand remains stable, supported by continued competition for affordably priced homes.
Monthly Statistics for Single Family Home Below $370k
Home Demand
Index
Index
70
(Slow)
Home Demand Index
from prior month
from prior month
77
Home Demand Index
from prior year
from prior year
67
Months of
inventory
inventory
2.9
Average daily inventory last month
751
Inventory sold
last month
last month
263
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | November 2025
Single Family Home $370k - $835k
The index for mid-range single-family homes in Baltimore is 85 this month, down from 88 in the previous report but above the 75 recorded one year ago. The slight month-over-month dip suggests modest easing in demand, likely tied to affordability pressures and seasonal moderation. Still, the year-over-year gain underscores ongoing resilience in this price segment as buyers remain active in well-located mid-market properties.
Monthly Statistics for Single Family Home $370k - $835k
Home Demand
Index
Index
85
(Slow)
Home Demand Index
from prior month
from prior month
88
Home Demand Index
from prior year
from prior year
75
Months of
Inventory
Inventory
2.3
Average daily inventory last month
1,736
Inventory sold
last month
last month
745
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | November 2025
Single Family Home Above $835k
The Home Demand Index for luxury single-family homes in Baltimore stands at 98, down from 105 last month but significantly above last year’s 73. This month’s decline suggests a short-term cooling in high-end buyer activity, though the substantial year-over-year increase indicates stronger overall engagement compared to 2024. The segment remains active, supported by affluent buyers and limited inventory availability.
Monthly Statistics for Single Family Home Above $835k
Home Demand
Index
Index
98
(Steady)
Home Demand Index
from prior month
from prior month
105
Home Demand Index
from prior year
from prior year
73
Months of
Inventory
Inventory
3.1
Average daily inventory last month
645
Inventory sold
last month
last month
210
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | November 2025
Condo Below $405k
The index for entry-level condos in Baltimore stands at 103 this month, down from 110 last month but higher than the 95 recorded one year ago. The month-over-month decrease suggests a mild easing in short-term demand, typical for the late fall season. However, the continued year-over-year improvement indicates that condos remain an attractive option for cost-conscious buyers navigating a high-priced market.
Monthly Statistics for Condo Below $405k
Home Demand
Index
Index
103
(Steady)
Home Demand Index
from prior month
from prior month
110
Home Demand Index
from prior year
from prior year
95
Months of
Inventory
Inventory
3
Average daily inventory last month
485
Inventory sold
last month
last month
162
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | November 2025
Condo Above $405k
The index for luxury condos in Baltimore rose to 165 this month, up from 160 last month and well above the 124 recorded during the same period last year. The month-over-month and year-over-year increases signal strengthening confidence in the high-end condo segment, supported by affluent buyers seeking urban convenience and amenity-rich properties. This sustained upward trend highlights the luxury condo market as one of the metro’s most dynamic sectors.
Monthly Statistics for Condo Above $405k
Home Demand
Index
Index
165
(High)
Home Demand Index
from prior month
from prior month
160
Home Demand Index
from prior year
from prior year
124
Months of
Inventory
Inventory
3.7
Average daily inventory last month
161
Inventory sold
last month
last month
44
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | November 2025
Townhouse/Rowhouse/Twin All prices
Townhouse/
Rowhouse/Twin
All prices
The index for townhouses, rowhouses, and twin homes in Baltimore stands at 89 this month, a slight decrease from 91 in the prior report but above the 78 recorded one year ago. The modest monthly decline suggests typical seasonal slowing, while the year-over-year improvement points to a healthier market compared to 2024. Demand in this segment remains steady, supported by buyers seeking space and affordability within the metro area.
Monthly Statistics for Townhouse/Rowhouse/TwinAll prices
Home Demand
Index
Index
89
(Slow)
Home Demand Index
from prior month
from prior month
91
Home Demand Index
from prior year
from prior year
78
Months of
Inventory
Inventory
3.6
Average daily inventory last month
3,312
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 November 2025 period with data collected from the previous month.
Released: November 10, 2025
Reference ID: 2330
Baltimore | November 2025
Home Demand Map (Zip Codes)
Regional demand across the Baltimore metro remains mixed this month. Howard County continues to lead with moderate buyer activity, maintaining its position as the metro’s most competitive submarket. Harford, Baltimore and Anne Arundel counties remain steady, while Carroll county has eased into the slow range. Baltimore City continues to show limited demand, reflecting affordability challenges and cautious urban buyer sentiment.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com