Baltimore-area home sales and prices continued to climb in November as the inventory of available homes sunk to a 10-year low.
A total of 3,003 homes sold for a median prices of $254,000, up 5.8% from the same time last year and the highest November sales volume and median price in a decade, according to a ShowingTime report released Monday.
Active listings declined by 11%, to 9,712, marking the 27th consecutive month of declining year-over-year inventory levels and the lowest November level in a decade, according to the monthly report, based on listing activity from MRIS, a division of the multiple-listing service Bright MLS.
In Baltimore, November home sales were up 6.3% from last year, with a total of 676 sales. The median price of $125,000 was down 4.9% from November 2016.
Carroll County saw the greatest year-over-year increase in median sales price, up 22.8% to $331,500. A total of 181 homes sold in Carroll County in November, up 2.3% from the year-ago month.
Howard County had the greatest increase in home sales, up 10.5%, to 337 sales. Homes in Howard County sold for a median of $375,000, the highest in the region and up 2.5% from last November.
In Baltimore County, 836 homes sold for a median price of $228,000. Homes sales rose 7.9% and median prices were up 6.1% compared to last November.
November home sales declined slightly, by 2.2%, in Anne Arundel County, with 666 deals closed. Homes sold for a median price of $335,500, up 13.3% from the year-ago month.
In Harford County, 307 homes sold for a median price of $237,000, up 1.7% from last November’s median price. The number of sales in Harford County was up 6.2% compared to the same month last year.
Homes in the region spent a median of 32 days on the market, eight fewer than this time last year, and sold for an average of 95% of their list price.
Tribune Content Agency