December brought good 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, Howard and Harford counties and the city of Baltimore. The Long & Foster Market Minute reports are compiled from data from residential real estate transactions within specific geographic regions, not just Long & Foster sales.

 

The number of homes sold in the Baltimore region increased in all areas compared to December 2013, with Anne Arundel County seeing a 38 percent jump. Baltimore City experienced an increase of 25 percent followed closely by Baltimore County at 22 percent. The number of units sold increased by 14 percent in Howard County and by 10 percent in Harford County.

Median sale prices increased by 2 percent in Howard County and by 1 percent in Baltimore County in December. Other areas of the region experienced decreases of 3 percent to 33 percent.

Active inventory increased in much of the Baltimore region in December compared to year-ago levels, with the exception of Baltimore City, which experienced a 8 percent decrease. Harford County saw no change in the amount of inventory compared to December 2013, while inventory in the remaining areas of the region grew from 3 percent to 9 percent.

Many homes in the region are selling in about two and a half months or less on average. Howard County experienced the lowest days on market (DOM) average at 53 days. Homes in Baltimore County experienced a DOM of 62 days, followed by Baltimore City at 67 DOM. Harford and Anne Arundel counties saw a DOM averages of 75 days and 86 days, respectively.

“December brought modest improvements to the Mid-Atlantic and Northeast real estate market, including in the Baltimore region, with many areas enjoying rising numbers of homes sold and growing median sale prices,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “These developments are positive for the real estate market and leave us positioned for growth in 2015.”

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.