Residential home prices climbed in April compared to the same period in 2018, according to housing statistics released by Maryland REALTORS®. Average home prices rose by .6 percent while the median price increased by 3.5 percent as compared to the same time in 2018.
“The average and median home sale prices both climbed moderately in April”, said Maryland REALTORS® President Merry Tobin.
“The pending units jumped to 10,228 from 9838 in 2018, while active inventory remained the same at 2.9 months,” continued Tobin. A 6 month to 6.5 month supply is considered to be a balanced market.
The April statewide median sales price was $295,000 compared to $285,000 in 2018, while average price increased to $339,439 from $337,402.
The Average Sale Price compared to Original List Price for April decreased slightly from 97.1 percent to 96.8 percent in 2019.
Maryland monthly housing statistics are compiled by data as reported by Bright MLS. For the purposes of this report, “units” are defined as the closed sales and “pending units” are properties under contract. Months of inventory are based on the current active inventory and monthly sales for the corresponding month.
Click here to download the April Housing Stats Infographic
Click here to download the full April Housings Stats chart.