Home sales across Maryland dropped for the 15th straight month in December amid a sea of listings while prices kept pace with year-ago levels, according to statistics provided by the Maryland Association of Realtors.
Realtors recorded 5,546 sales of new and existing single-family homes and condos last month, down 19.2 percent from a year earlier when 6,864 units were sold.
The overall median home price for single-family homes and condos held steady at $304,789 in December compared with $304,232 a year ago.
Many areas reported steeper year-over-year sales declines in December than they did in November, including: Prince George’s County, down 31.8 percent from a year ago to 880 sales; Baltimore, down 20.4 percent to 652; Frederick County, down 29.5 percent to 217; and Anne Arundel County, down 10.7 percent to 533.
The inventory of for-sale homes at the end of December shrunk to 34,395 listings from 38,187 in November, which, along with fewer sales pending in December, suggests more property owners are postponing plans to sell and buyers are holding out for better deals. Despite the month-to-month drop in active listings, there were still 47 percent more homes for sale on the market last month than there were a year ago.