February brought positive news to the Baltimore real estate market with the entire region experiencing an increase in the number of homes sold, according to The Long & Foster Market Minute reports. The Baltimore real estate market includes Baltimore, Anne Arundel, Carroll, Howard and Harford counties and the city of Baltimore. The Long & Foster Market Minute reports are based on data provided by Metropolitan Regional Information System and its member associations of Realtors and include residential real estate transactions within specific geographic regions, not just Long & Foster sales.

The number of homes sold in the Baltimore region increased compared to February 2015, with Howard County seeing a 22 percent increase and Carroll County seeing a 21 percent increase. Harford County experienced an increase of 18 percent and Baltimore City experienced a 13 percent increase in the number of homes sold. Both Anne Arundel and Baltimore counties saw the number of homes sold increase by 12 percent.

Median sale prices varied within the region, with Baltimore County seeing a 9 percent increase and Baltimore City experiencing a 3 percent increase. In Carroll County, there was no change in median sale price from the previous year, while other areas experienced decreases of 1 percent to 3 percent.

Active inventory fell across the region compared to the same month last year. In both Anne Arundel and Carrol counties, inventory fell by 17 percent, while in Harford and Howard counties inventory fell by 16 percent. In Baltimore County, active inventory decreased by 14 percent, and it fell by 11 percent in Baltimore City.

Many homes in the region are selling in three months or less on average. Baltimore County experienced the lowest days on market (DOM) average at 67 days. Homes in Howard County experienced a DOM of 68 days, followed by Anne Arundel County with a DOM average of 73 days. Baltimore City saw a DOM average of 79 days, and Harford and Carroll counties saw DOM averages of 84 and 86 days, respectively.

“The United States economy saw positive growth in the number of jobs added in February, which is good news for the housing market,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “We also saw some favorable improvements happening within our market areas last month as well, including in the greater Baltimore region. Though low inventory is having big impacts, we anticipate an upturn in the spring will help alleviate demand.”

The Long & Foster Market Minute is an overview of market statistics based on residential real estate transactions and presented at the county level. The easy-to-read and easy-to-share reports include information about each area’s units sold, active inventory, median sale prices, months of supply, new listings, new contracts, list to sold price ratio, and days on market. Featuring reports for more than 500 local areas and neighborhoods in addition to more than 100 counties in eight states, The Long & Foster Market Minute is offered to buyers and sellers as they aim to make well-informed real estate decisions.

The Long & Foster Market Minute reports are available at www.LongandFoster.com, and you can subscribe to free updates for the reports in which you’re interested.    Information included in this report is based on data supplied by MRIS, which is not responsible for its accuracy. The reports do not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MRIS or Long & Foster Real Estate, Inc.