Baltimore home prices continue to rise in April

Baltimore home prices continue to rise in April

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Home sale prices in the Baltimore region continued their upward march in April, with the median price hitting $267,900, as the inventory of homes listed for sale remained tight.

April’s median sales price was up 4.9%, or $12,400, from a year ago and 3.4% higher than in March. It was the highest April price of the decade, according to data provided by MarketStats by ShowingTime, based on listing activity from Bright MLS.

The number of closed homes sales last month was 3,349, up 2.6% from a year ago and 8.7% from the month before.

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The level, also the highest in a decade, reverses a downward trend that observers speculated was related to a settling of the market to pre-recession levels when there was a lot of buying and flipping of homes.

New listings also were up 3.1%, reversing a slide. But inventory remained tight, with active listings down by 11.4% — the 32nd consecutive monthly drop and the lowest April level in a decade at just over 9,000 listings.

That also may have pushed down median days-on-market to 18 days, the lowest April level in the last decade and down eight days from March.

Howard County remained the most expensive area in the region, with an April median sales price of $430,000, up 7.5% from last year. Baltimore City had the lowest prices, with the median price down slightly to $139,900.

Carroll County had the largest percentage increase in price, up 16.9% to $314,900, and Baltimore County had the smallest percentage increase, up 0.4 percent to $235,000. Anne Arundel County saw an increase of 7.5% to $349,440 and Harford County saw a decline of 1.8% to $245,500.

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