More families in the Baltimore region were trying to sell homes in July than any month since November 2011, but sales did not keep pace, according to monthly data provided by RealEstate Business Intelligence, a subsidiary of the MRIS multiple listing service.
Relatively high sales volume last July also lessens the significance of the dip in closed deals this year, said Corey Hart, a senior product manager for RB
Bob Kimball, Branch Vice President at Coldwell Banker Residential Brokerage, Greenspring Sales Office says, “Home showings are heading on a natural down turn as we end the year. If there has not been an offer on a listing in 60 days, the market is telling the seller what needs to be done. If a listing has not had a price adjustment in 60 days then now is time to find the right price!”
July By The Numbers:
- 13,856 homes on the market
- Active listings up 22.5 % in July compared to the same time last year
- Approximately 4,900 of the listings were new
- Number of July sales dipped 2% year-over-year.
- Pending sales up 9.6 percent year-over-year to 3,422 last month.
- Median days on market: 34, eight more days than July 2013
Median sales price for the region was $256,000, down 3% compared to last year. Prices by county:
- Anne Arundel County $325,000 (down less then 1%)
- Baltimore City $135,000 (down 9.1%)
- Baltimore County $227,750 (down less then 1%)
- Carroll County $295,000 (up 3.5%)
- Harford County $232,316 (down 5.1%)
- Howard County $418,000 (up less than 1%)
Source: The Baltimore Sun Real Estate Wonk