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RBI January Update: Price, Active Listings Increase in DC; Inventory Gains Continue in Baltimore

February 10, 2014  |  by Corey

The following market highlights for the Washington, D.C. Metro and Baltimore, MD Metro Area housing markets have been prepared by RealEstate Business Intelligence (RBI) and is based on January 2014 MRIS housing data. Click here to view the full releases.

DC Metro Overview

Winter weather dampens buyer activity though price gains continue; Active listings increase across all property segments

The DC Metro Area was off to an unusually cold and snowy start, likely affecting buyer activity in the region.  Closed sales decreased 2.1 percent from last January with declines in both single-family detached home and townhome sales.  New contracts also decreased from last year, falling 10.5 percent with declines across all property segments.  However, seller activity continues to improve and both active listings and new listings increased from January 2013.  Active listings rose 11.5 percent from this time last year, marking the fourth consecutive month of increases for this indicator.  For the first time in over two years, there were gains in active listings for all property segments.  Even with this increase, supply remains tight and is only 26 percent of its 2007 peak level.  New listings increased 1.7 percent from last year which is a milder increase than in prior months.  The median sales price increased from the prior year for the 24th month in a row, rising 7.8 percent from last January.  While sellers are returning to the market, winter weather may dampen buyer activity in the remaining winter months.

Click here to view PDF version of this report

Baltimore Metro Overview

Winter weather dampens buyer activity; Inventory gains across all property segments

The Baltimore Metro Area was off to an unusually cold and snowy start, likely affecting buyer activity in the region.  Closed sales decreased 2.0 percent from last January driven by declines in single-family detached home and townhome sales.  New contracts increased modestly from last year, rising 1.6 percent.  Seller activity continues to improve and both active listings and new listings increased from January 2013.  Active listings rose 6.0 percent from this time last year, led by active listings for single-family detached homes.  Inventory has now risen from the prior year for four consecutive months.  Even with this increase, supply remains tight and is only 49.3 percent of its 2008 peak level.  New listings increased 3.7 percent from last year which is a milder increase than in prior months.  The median sales price in the region increased 0.4 percent from last January, led by growth in condo properties and townhomes.  While sellers are returning to the market, weather may dampen buyer activity in the remaining winter months.

Click here to view PDF version of this report

The bulk of this report’s content is readily available, down to the ZIP code level of granularity, via interactive charts and reports offered via rbiEXPERT, a premium subscription service offered to real estate professionals interested in growing their business with the help of industry-leading and user-friendly analytics. For a limited time, you can save almost $10 off the monthly price when you sign up for rbiEXPERT Annual. Click here for details.

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