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According to data provided by ShowingTime RBI based on listing activity from MRIS, Baltimore and Washington D.C. experienced notable boosts in their respective housing markets in April.
For the Baltimore metro area, the month improved to the highest median sales price for April since 2008. In the D.C. area, the month concluded with the highest median sales price in April for more than a decade.
Baltimore
The median sales price for homes increased 5.7 percent year-over-year to $243,000, and the increase was also seen month-over-month at 2.4 percent. Up 19.9 percent from 2015, the total sales volume in the metro area rose to $900 million. The sales price versus the original list price increased 0.7 percent, to 94.6 percent of sales versus listing.
Total sales jumped 14.5 percent year-over-year to 3,201. This is the 21st consecutive month of increases in sales.
There were 4,853 pending sales, which broke the April 2015 record of 4,387.
Both townhome prices and condo prices increased 17 percent and 5.1 percent, respectively. Single-family detached home values remained at $300,000. Baltimore city experienced year-over-year growth at 31.4 percent. Even with that increase, though, the area continues to be the most affordable in the metro, with a median sales price of $135,000.
The total days on market dropped to 41, down seven days year-over-year. Homes in Howard County saw the fastest median days on market at 23 days, while Carroll County experienced the highest at 55 days. Both counties saw decreases in median DOM.
Washington D.C.
Washington D.C.’s median sales price jumped only 0.5 percent in April to $419,250, but presented the highest level for the month of April in ten years. Sales volume in the area resulted just shy of $2.4 billion, an 11.4 percent year-over-year increase. The average percent of list price verses the sale price was 98 percent.
Total closed sales ended at 4,678, also a decade high for April and up 9.6 percent since last year. Half of all the homes sold in April in the D.C. Metro area were only on the market for 14 days, which is 13 days less than the month before and unchanged since April 2015.
Inventories for D.C. Metro areas climbed 2.3 percent to 11,113, a 13.7 percent increase from March. Inventory for townhomes, condos and single-family detached homes all increased by at least 1 percent. Washington D.C. had the largest increase on the metro with 1,307 active listings, while Fairfax City experienced the largest decrease, from 80 to 61 listings.
Washington D.C. sold homes at 99 percent value of original listing. This is the highest percentage in the area, although it is down 0.6 percent since last year.
