In February, median sale prices increased in a number of parts of the Baltimore region real estate market 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.

Median sale prices increased in numerous parts of the Baltimore region last month, with Baltimore City seeing a 22 percent increase and Carroll County experiencing an 8 percent increase. In Anne Arundel County, the median sale price rose by 7 percent, while in Howard County it increased by 6 percent. In Harford County, the median sale price declined by 1 percent, and the median sale price fell by 2 percent in Baltimore County.

The number of homes sold in the Baltimore region varied in February. In Harford County, home sales increased by 5 percent, followed by Baltimore City with a 4 percent increase. In Baltimore County, the number of homes sold declined by 5 percent, and Anne Arundel County experienced a 7 percent drop. Other areas of the region saw the number of homes sold fall by 13 percent to 17 percent.

Active inventory fell throughout the Baltimore region in February compared to the same month last year. Carroll County experienced a decline of 31 percent, and Howard County experienced a decline of 29 percent. In Harford County, active inventory decreased by 24 percent, and in Baltimore County it fell by 21 percent. In Anne Arundel County and Baltimore City, active inventory declined by 20 percent and 19 percent, respectively.

Homes in the Baltimore region are selling at a steady pace. Baltimore County experienced the lowest days on market (DOM) average at 63 days. Homes in Howard County experienced a DOM average of 67 days, and homes in Anne Arundel County experienced a DOM average of 68 days. In both Baltimore City and Harford County, the DOM average was 69 days, followed by Carroll County with a DOM of 78 days.

“The United States economy continued to make gains in many areas in February, and at Long & Foster we saw positive indicators of growth in the real estate market as well, including in the greater Baltimore area,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “Sale prices of homes continued to rise for many in the Mid-Atlantic and Northeast regions and numerous locales also experienced increased numbers of homes sold. With continued high demand for homes, we expect to see a busy spring 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.