In July, active inventory declined across the entire Baltimore region compared to the previous year, 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.

Active inventory fell across the Baltimore region in July compared to the same month last year. In Baltimore, Carroll and Harford counties, active inventory dropped by 19 percent, while it fell by 18 percent in Howard County. Anne Arundel County experienced a 17 percent decline in active inventory, and in Baltimore City it decreased by 12 percent.

Median sale prices varied in the Baltimore region last month, with Baltimore City seeing a 20 percent increase and Anne Arundel County experiencing a 1 percent increase. In Baltimore County, the median sale price remained the same year-over-year. Carroll, Harford and Howard counties experienced declines in sale price of 1 percent, 2 percent and 3 percent, respectively.

The number of homes sold in the Baltimore region declined in most areas compared to July 2015, with Carroll County seeing a significant 28 percent increase. In both Anne Arundel County and Baltimore City, the number of homes sold declined by 1 percent, followed by Howard County with a 4 percent drop. Other areas experienced decreases of 14 percent to 15 percent.

Many homes in the region are selling in about two months or less on average. Howard County experienced the lowest days on market (DOM) average at 36 days. Homes in both Baltimore and Carroll counties experienced DOM averages of 47 days, and homes in both Anne Arundel and Harford counties experienced DOM averages of 51 days. In Baltimore City, the average DOM was 57 days.

“July brought both good and not-so-good news to the U.S. economy, with the job market remaining strong and retail sales staying flat for the month. Similarly in real estate, home sales slowed in many areas, while median sale prices increased, including in parts of the Baltimore region,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “As the summer comes to a close, we anticipate that the housing market will remain healthy heading into the autumn season.”

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.