It’s a good time to be in the selling business in the Washington D.C. and Baltimore metros. Although not alike in price point, the D.C. and Baltimore market shared similar trends last month, with rises in sales volumes, more closed sales and declining inventories, according to MRIS's latest housing market updates. While D.C. buyers were spared from year-over-year rising sales prices, those in Baltimore weren’t so lucky. Nonetheless, both metros featured highs for the month in closed and pending sales, as well as declining inventory and a waning in number of days on the market. Baltimore market: rising home prices In May, Baltimore Metro median sales price rose 4.8 percent year-over-year and 7.8 percent from April to reach $262,000. This is the highest May sales price since 2008. In addition, sales volume is up 19 percent annually and 24.9 percent monthly. Sales volume reached $1.1 billion in May, pushed by the 15.1 percent rise in closed sales. With 3,715 closed sa...
- Both metros featured highs for the month in closed and pending sales.
- Baltimore metro median sales price rose 4.8 percent year-over-year to reach $262,000, the highest May sales price since 2008.
- Homes are moving off the market more rapidly in Baltimore as compared to last year.
- Sellers in D.C. received 98.3 percent of original list price at sale, faring slightly better than May 2015.