The Baltimore region real estate market saw median sale prices increase or remain unchanged in the month of August, according to the Long & Foster Market Minute reports. The Baltimore region includes Baltimore, Anne Arundel, Carroll, Howard and Harford counties and the city of Baltimore.

The number of homes sold in the Baltimore region varied throughout the market in August. Carroll County saw home sales increase 12 percent, followed by Harford County with an increase of 7 percent. The median sale price rose by 17 percent in Baltimore City and by 6 percent in both Baltimore and Howard counties.

Active inventory declined throughout the region last month, falling by 15 percent in Harford County and by 13 percent in both Baltimore and Carroll counties. Homes in the area sold in one to two months on average. Howard County experienced the lowest days on market, selling in 27 days on average.

“While inventory is starting to improve nationwide and rising sale prices are slowing down, it’s still a sellers’ market, which means buyers need to be prepared,” said Gary Scott, president of Long & Foster Real Estate. “The need for a real estate professional is heightened more than ever.”

Although spring is traditionally seen as the best time of the year to buy or sell property, consumers shouldn’t let seasonality dictate behavior, Scott said.

“As mortgage rates continue to be attractive, it’s still a good time to sell,” Scott said. “And if you’re buying, don’t take yourself out of the market – you never know when the right property will come along.”

Scott said buyers in this market need to do three things: watch prices in the neighborhood where you plan to buy, watch for inventory coming on the market, and be pre-approved for a mortgage and ready to make an offer.

The Long & Foster Market Minute is an overview of market statistics based on residential real estate transactions for more than 500 local areas and neighborhoods and over 100 counties in eight states. The easy-to-read, easy-to-share reports include information about each area’s units sold, active inventory, median sale prices, list to sold price ratio, days on market and more.

Information included in this report is based on data supplied by Metropolitan Regional Information System and its member associations of Realtors, which are not responsible for its accuracy. The reports include residential real estate transactions within specific geographic regions, not just Long & Foster sales, and they 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.