The Baltimore home demand index for January 2023 was 62, a drop of 14 points to the “limited” category from the Baltimore home demand index for December 2022 that was “slow” at 78. (Note that the index is one month behind, meaning the data for the January 2023 report is from December 2022.)
The Baltimore home demand index is a report created and released by T3/Bright MLS, our Baltimore multiple listing service.
Here is the link to the Baltimore home demand January 2023 report.
Please note that this is a multi-area of Maryland overview. It includes Anne Arundel, Baltimore City, Baltimore, Carroll, Harford, and Howard counties. Your Baltimore neighborhood’s value may see different scenarios than this generalized report.
For this month’s report, higher priced single family homes and condos above $310,000 continued to be in higher demand than other types of homes in the Baltimore real estate market, but the demand fell tremendously from prior months.
For single family homes under $250,000, the market was “limited” at 26 (down from the limited market at 28 in December,) $250-590,000 was “Limited” at 64 (down 16 points from December,) and above $590,000 was “Steady” at 98, which is down 44 points from December. (High is 130 and above.)
Condos below $310,000 fell into the “Limited” range at 51, down 20 points from the “Slow” range of 71 last month. Condos above $310,000 fell to the “Moderate” range at 111, a 70 point decrease from the December number of 190.
Townhouses have only one category – any/all townhouses in the Baltimore area, and that stayed in the “Slow” range at 72, a drop from 88 last month.
This is a very interesting report, as we are definitely feeling and seeing a continued shift in the Baltimore real estate market.
Here is the Baltimore Home Demand Index December 2022 so you can see the comparisons.
Please contact me to help you navigate this Baltimore real estate market!