In November, the number of homes sold increased in 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.

The number of homes sold in the Baltimore region increased compared to last November, with Anne Arundel County seeing a 19 percent increase. In both Baltimore City and Carroll County, home sales increased by 16 percent, followed by Baltimore County with a 13 percent increase. Harford County saw an 11 percent increase in the number of homes sold compared to last year, and Howard County saw a 10 percent increase.

Median sale prices varied in the Baltimore region last month, with Baltimore City seeing a 28 percent increase and Baltimore County experiencing an 8 percent increase. In Carroll County, the median sale price didn’t change from the previous year, while in Anne Arundel County it fell by 1 percent. In Harford and Howard counties, the median sale price fell by 4 percent and 8 percent, respectively.

Active inventory fell throughout the Baltimore region in November compared to the same month last year. Carroll County experienced a decline of 28 percent, and Anne Arundel County experienced a decline of 24 percent. Both Harford and Howard counties saw active inventory fall by 23 percent, and in Baltimore County inventory declined by 21 percent. In Baltimore City, active inventory declined by 18 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 41 days. Homes in Baltimore County experienced a DOM average of 51 days, and homes in Baltimore City experienced a DOM average of 55 days. In Anne Arundel County, the DOM average was 62 days. Harford and Carroll counties experienced DOM averages of 64 days and 73 days, respectively.

“November was another good month for the United States economy, with consumer confidence hitting one of its highest numbers since 2007. In the Mid-Atlantic and Northeast housing market, we saw a number of positive trends as well, including in the Baltimore region,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “Although inventory is still sparse, many people are choosing to buy a home, taking advantage of mortgage rates while they remain 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.