Maryland real estate market trends are collected and documented by our MLS, Bright MLS. Here is the update for the week ending August 7, 2022.
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 26 of the Bright MLS multi-state report 08/07/2022, the Maryland real estate data shows the following:
Last week, there was 1.04 new contract written for every new listing, which means that this past week, there were not enough houses for sale vs homes that went under contract.
In Maryland, the daily number of “New Active Listings” added to the market from 7/31-8/7 from last report rose slightly, but remained below 2021 and 2020 numbers. Listings last week were at 93.7% of the number of new listings from the same point in 2020. From 2021, listings are at 76.7% of the amount this same week last year.
New pending listings from 7/31-8/7 also rose slightly this week, but remained well below 2021 numbers and 2020 numbers. They were at 76.0% of the same time frame last year (2021,) and 78.9% compared to 2020.
Closings dropped last week. Closings stayed below both 2021 and 2020 numbers. Closings were at 84.7% compared to 2021, and were at 79.8% compared to the same week from 2020.
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:
If you have questions about getting your Timonium house ready to sell , please contact me. We can strategize together on your best next step. I would be pleased to be of service!