September 2026 Report
Baltimore Metro
Baltimore | September 2026
Home Demand Index
The Home Demand Index (HDI) for the Baltimore metro area stands at 83 for this report period, down 6 points from last month’s 89 and below the 90 recorded one year ago. That leaves the market 6.7% lower on the month and 7.8% lower than a year ago, a broad-based cooling that carries a Slow demand rating heading into the fall. The pullback is consistent across most home-type and price tiers rather than concentrated in any single segment, pointing to rate-and-affordability fatigue rather than a localized shift.
Demand by home type in Baltimore this period ranges from a high of 117 in the luxury condo tier to a low of 67 in the entry single-family tier, with most segments softening month over month. The condo tiers continue to screen strongest on the index, while single-family demand sits lower, a pattern driven by the affordability advantage condos hold at their price points. Entry single-family remains the most payment-sensitive tier at 67 (Limited), and mid-range single-family sits at 81. Luxury single-family reads 87 and the townhouse/rowhouse format 89, both easing on the month. Inventory generally sits in the two-to-five-month range across tiers, keeping the metro balanced-to-soft rather than tight.
Monthly Statistics for September 2026
Home Demand
Index
Index
83
(Slow)
Home Demand Index
from prior month
from prior month
89
Home Demand Index
from prior year
from prior year
90
Index change
from prior month
from prior month
-6.7%
Index change from
same time last year
same time last year
-7.8%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | September 2026
Home Demand Index | Historical Year-over-Year Comparison
Over the trailing twelve months, Baltimore’s Home Demand Index followed a clear seasonal arc, easing through the fall to a low of 57 in December before recovering through the winter to a spring peak of 94 in April. It has since drifted lower through the summer to the current 83, tracking below the prior-year path, which ran from 90 a year ago to 89 last month. The year-over-year gap has widened as the market moved into late summer, underscoring that this cycle’s demand is running cooler than the comparable stretch of 2024-25.
Home Demand Index
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | September 2026
Home Demand Map
Demand across the Baltimore metro continues to reflect its established geographic structure, spanning core counties such as Anne Arundel, Baltimore City, Baltimore County, Carroll, Harford and Howard. Buyer activity remains firmest in the higher-income, supply-constrained submarkets and softest where entry-level affordability is most stretched, a divergence that has held steady even as the metro-wide index has cooled. The overall Slow reading masks that internal spread, with individual submarkets sitting on either side of the metro average.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | September 2026
Demand and Inventory by Home Type
Demand by home type in Baltimore this period ranges from a high of 117 in the luxury condo tier to a low of 67 in the entry single-family tier, with most segments softening month over month. The condo tiers continue to screen strongest on the index, while single-family demand sits lower, a pattern driven by the affordability advantage condos hold at their price points. Entry single-family remains the most payment-sensitive tier at 67 (Limited), and mid-range single-family sits at 81. Luxury single-family reads 87 and the townhouse/rowhouse format 89, both easing on the month. Inventory generally sits in the two-to-five-month range across tiers, keeping the metro balanced-to-soft rather than tight.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | September 2026
Single Family Home Below $380k
The index for entry-level single-family homes in Baltimore (below $380,000) stands at 67 this report period, down 6 points from last month’s 73 and below the 77 recorded a year ago. That keeps the tier in Limited territory, with roughly 3.1 months of inventory across 758 active listings and 242 sales last month. The year-over-year decline signals demand running cooler than the same period last cycle at this price point.
Monthly Statistics for Single Family Home Below $380k
Home Demand
Index
Index
67
(Limited)
Home Demand Index
from prior month
from prior month
73
Home Demand Index
from prior year
from prior year
77
Months of
inventory
inventory
3.1
Average daily inventory last month
758
Inventory sold
last month
last month
242
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | September 2026
Single Family Home $380k - $875k
The index for mid-range single-family homes in Baltimore ($380,000 to $875,000) stands at 81 this report period, down 7 points from last month’s 88 and below the 90 recorded a year ago. That keeps the tier in Slow territory, with roughly 2.3 months of inventory across 1,788 active listings and 782 sales last month. The year-over-year decline signals demand running cooler than the same period last cycle at this price point.
Monthly Statistics for Single Family Home $380k - $875k
Home Demand
Index
Index
81
(Slow)
Home Demand Index
from prior month
from prior month
88
Home Demand Index
from prior year
from prior year
90
Months of
Inventory
Inventory
2.3
Average daily inventory last month
1,788
Inventory sold
last month
last month
782
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | September 2026
Single Family Home Above $875k
The index for luxury single-family homes in Baltimore (above $875,000) stands at 87 this report period, down 19 points from last month’s 106 and below the 104 recorded a year ago. That keeps the tier in Slow territory, with roughly 2.8 months of inventory across 630 active listings and 225 sales last month. The year-over-year decline signals demand running cooler than the same period last cycle at this price point.
Monthly Statistics for Single Family Home Above $875k
Home Demand
Index
Index
87
(Slow)
Home Demand Index
from prior month
from prior month
106
Home Demand Index
from prior year
from prior year
104
Months of
Inventory
Inventory
2.8
Average daily inventory last month
630
Inventory sold
last month
last month
225
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | September 2026
Condo Below $420k
The index for entry-level condominium homes in Baltimore (below $420,000) stands at 105 this report period, down 6 points from last month’s 111 and below the 116 recorded a year ago. That keeps the tier in Steady territory, with roughly 3.8 months of inventory across 623 active listings and 162 sales last month. The year-over-year decline signals demand running cooler than the same period last cycle at this price point.
Monthly Statistics for Condo Below $420k
Home Demand
Index
Index
105
(Steady)
Home Demand Index
from prior month
from prior month
111
Home Demand Index
from prior year
from prior year
116
Months of
Inventory
Inventory
3.8
Average daily inventory last month
623
Inventory sold
last month
last month
162
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | September 2026
Condo Above $420k
The index for luxury condominium homes in Baltimore (above $420,000) stands at 117 this report period, up 9 points from last month’s 108 and below the 153 recorded a year ago. That keeps the tier in Moderate territory, with roughly 4.6 months of inventory across 125 active listings and 27 sales last month. The year-over-year decline signals demand running cooler than the same period last cycle at this price point.
Monthly Statistics for Condo Above $420k
Home Demand
Index
Index
117
(Moderate)
Home Demand Index
from prior month
from prior month
108
Home Demand Index
from prior year
from prior year
153
Months of
Inventory
Inventory
4.6
Average daily inventory last month
125
Inventory sold
last month
last month
27
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | September 2026
Townhouse/Rowhouse/Twin All prices
Townhouse/
Rowhouse/Twin
All prices
The index for townhouses, rowhouses and twins in Baltimore (all prices) stands at 89 this report period, down 5 points from last month’s 94 and below the 92 of a year ago. The tier sits in Slow territory with about 4.1 months of inventory across 3,775 active listings and 922 sales last month. As the metro’s highest-volume attached format, it typically tracks close to the overall market, and this period is no exception at 89 against the metro’s 83.
Monthly Statistics for Townhouse/Rowhouse/TwinAll prices
Home Demand
Index
Index
89
(Slow)
Home Demand Index
from prior month
from prior month
94
Home Demand Index
from prior year
from prior year
92
Months of
Inventory
Inventory
4.1
Average daily inventory last month
3,775
Inventory sold
last month
last month
922
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 September 2026 period with data collected from the previous month.
Released: September 11, 2026
Reference ID: 2485
Baltimore | September 2026
Home Demand Map (Zip Codes)
Demand across the Baltimore metro continues to reflect its established geographic structure, spanning core counties such as Anne Arundel, Baltimore City, Baltimore County, Carroll, Harford and Howard. Buyer activity remains firmest in the higher-income, supply-constrained submarkets and softest where entry-level affordability is most stretched, a divergence that has held steady even as the metro-wide index has cooled. The overall Slow reading masks that internal spread, with individual submarkets sitting on either side of the metro average.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com