Maryland real estate market trends are being put together by our MLS, Bright MLS. Here is the update for the week ending April 25, 2021.
Bright MLS current covers seven states, so there are statistics for a number of areas. There is a general overview for the entire MLS, and later there is specific state data.
Starting on page 23 of the Bright MLS multi-state report 04/25/2021, the Maryland real estate data shows the following:
Last week, there was 1.09 new contract written for every new listing, which means that there are not enough homes on the market to keep up with the demand.
In Maryland, the daily number of “New Active Listings” added to the market from 4/18-25 from last report and remained higher than the same period last year. Listings are now at 153.7% of the number of new listings from the same point in 2020. That being said, at this time in 2020, we were still in stay at home orders, so those numbers may be skewed. Going back to 2019, listings are at 131.5% of the number two years ago.
New pending listings from 4/18-25 rose slightly this week, remaining above the same point last year for the second week in a row. Again, the stay at home orders were just being put into place last year at this time, so it is not a good comparison. We will see over the next few weeks and months that 2020 at this time there was not much happening in the market. Compared to 2019, pending listings were still at 118.2% from that point, so above a more “normal” year.
Closings dropped last week, at 109.4.% compared to 2019, and 126.6% compared to the same week from April 2020, but again, 2020 numbers are from a time when we were in a stay at home order, so the 2020 numbers are not reflective of a regular real estate market.
I appreciate this data from Bright MLS and look forward to seeing the next report so I can share with you once received.
End of month past reports:
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