The Baltimore home demand index is a report created and released by T3/Bright MLS, our Baltimore multiple listing service.
The Baltimore home demand index for January 2022 was 73, a drop of 25 points from the Baltimore home demand index for December 2021 that was “steady” at 98. (Note that the index is one month behind, meaning the data for the January report is from December 2021.)
Here is the link to the Baltimore home demand January report.
Counties varied on their demand, Howard Country remained high, Baltimore County Moderate, Harford County Steady, and Baltimore City Slow.
Seasonally, we tend to see a drop off at the end of the year. This year, some of the drop is due to a lack of inventory. This is also an entire state overview. Your Baltimore neighborhood’s value may see different scenarios than this generalized report. For me, I said multiple times that I have never been so busy between Christmas and New Year’s Day before in my 23+ years in business, and these preparations were for homes coming to the market in three different location in the Baltimore real estate market.
This year, higher priced single family homes continued to be in higher demand but also fell the most dramatically according to the report, with a drop of 43 points from the prior month putting them at the “Steady” level – a big drop from the “High” level.
For single family homes under $250,000, the market was “limited” at 34 (down from the limited market at 44 in December,) $250-590,000 was slow at 97 (down 30 points from December,) and above $590,000 was steady at 100 (High is 130 and above, as noted above, this was a big drop from 143 in December.)
Condos below $310,000 dropped further into the “slow” range at 74 , a drop from 88 last month. Condos above $310,000 remained high at 175, a drop from the December number of 220.
Townhouses have only one category – any/all townhouses in the Baltimore area, and that was slow at 82, a drop from high of 107 last month.
This is a very interesting report. I look forward to following it to see what it shows for February.
Please contact me to help you navigate this Baltimore real estate market!
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