January showed a continuation of the robust winter market, according to housing statistics released by Maryland REALTORS®*. Units sold rose by 10.6 percent and the average price increased by 3.9 percent compared to the same time in 2019.
“The average sales price increased from $323,221 to $335,910 and the median price increased from $275,000 to $288,000,” said Maryland REALTORS® President John A. Harrison. “Months of inventory dropped to just 2 months, compared to 3.7 last year, which is a historic low for the state.”
“We started the year strong with continued low interest rates, low unemployment, and rising rents. These factors should encourage healthy buyer demand and position Maryland for a promising start to the spring market,” added Harrison. “A recent policy forum hosted by the National Association of REALTORS® cited affordability as one of the defining policy issues of the decade. Maryland REALTORS® leadership and staff will continue to work with legislators and industry stakeholders to develop solutions for both buyers and renters.”
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