Industry News

Maryland’s buyer’s market continues

For-sale inventory up 47% from a year ago

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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 prop...