In September, median sale prices increased in the 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.

Median sale prices rose in the Baltimore region last month, with Baltimore County seeing a 14 percent increase and Carroll County experiencing a 12 percent increase. In both Anne Arundel County and Baltimore City, the median sale price rose by 10 percent. Harford and Howard counties experienced increases of 5 percent and 4 percent, respectively.

The number of homes sold in the Baltimore region rose in most areas compared to last September, with Harford County seeing a 19 percent increase. In Carroll County, home sales increased by 10 percent, followed by Baltimore City with a 9 percent increase. Baltimore County saw the number of homes sold rise by 4 percent, and Anne Arundel County saw a 3 percent increase. Howard County experienced a 4 percent decrease in the number of homes sold in September.

Active inventory fell across the Baltimore region in September compared to the same month last year. In Carroll County active inventory dropped by 23 percent, while it dropped by 20 percent in both Anne Arundel and Harford counties and by 19 percent in Baltimore County. In Howard County, active inventory decreased by 16 percent, followed by Baltimore City with a decline of 13 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 42 days. Homes in Baltimore County experienced a DOM average of 47 days, and homes in Carroll County experienced a DOM average of 54 days. In Baltimore City, the DOM average was 56 days, and both Anne Arundel and Harford counties had DOM averages of 57 days.

“September was a good month for the U.S. economy, which we saw reflected in increased retail sales and consumer spending, as well as job growth. The housing market, including in the Baltimore region, saw similar positive trends last month,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “In numerous parts of the country rent prices continue to rise, making homeownership increasingly attractive, especially with mortgage rates remaining historically low.”

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.