The Baltimore home demand index for October 2023 was 52, a huge loss of 32 points, dropping into the “limited” category from the Baltimore home demand index for September 2023 that was “slow” at 84. (Note that the index is one month behind, meaning the data for the October 2023 report is from September 2023.)
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 October 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, condos above $385,000 continued to be in higher demand than other types of homes in the Baltimore real estate market.
For single family homes under $335,000, the market was “Limited” at 41, $335-765,000 was “Limited” at 52, and above $765,000 was “Limited” at 61. These are large drops from last month.
Condos below $385,000 were in the “Limited” range at 56. Condos above $385,000 were in the “Steady” range at 100.
Townhouses have only one category – any/all townhouses in the Baltimore area, and that dropped into the “Limited” range at 55.
We are continuing to see a shifting Baltimore real estate market. This month had very large drops in every category.
Here is the Baltimore Home Demand Index September 2023 so you can see the changes month-over-month.
Please contact me to help you navigate the Baltimore real estate market!