Initial Coronavirus Maryland market trends are being put together by our MLS, Bright MLS.
Bright MLS covers a large swath of states, so they have statistics for a number of areas, but then they hone in to specific states.
Starting on page 23 of the Bright MLS multi-state report, the data shows the following:
In Maryland, the daily number of “New Active Listings” added to the market was trending significantly higher than 2019 at the same time. It had the same shape in spike of activity as 2019, but at a much higher rate. The new active listings dropped below the 2019 mark on March 24, 2020. I will be curious to see how it looks as of next Tuesday.
Next in the report is the daily number of “Listings Removed from the Market” (which would include statuses such as withdrawn, temporarily off the market, and canceled.) In Maryland, that started on March 16, which is two days after schools were closed by order of the governor. Just under 325 listings came of the market that day, around 340 on the 17th, another 350 on the 18th, and about 354 on the 19th. The volume of those removing from the market has dropped since then, but that is the same time that the number of listings that came on the market started to drop.
The daily showing activity is something I discussed in my post the “Impact of Coronavirus to Real Estate Showings in Bright MLS.” Showings have dropped tremendously.
I appreciate this data from Bright MLS and look forward to seeing an updated report that I can share with you once received.
If you have questions about getting your Towson house ready to sell during this unprecedented time, please contact me. We can strategize together on your best next step. I would be pleased to be of service!