Coronavirus Maryland real estate market trends are being put together by our MLS, Bright MLS. Here is the update for April 9, 2020.
A reminder from past weeks’ posts, Bright MLS covers a large swath of states, so they have statistics for a number of areas, but then they drill down to specific state data.
Starting on page 32 of the Bright MLS multi-state report 04/09/2020, the data shows the following:
In Maryland, the daily number of “New Active Listings” added to the market from 4/6-9 was much lower than last year at the same time. For example, on Thursday (this year, 4/9) last year, 490 new homes were added to the market. This year, 288 homes were added to the market.
The daily number of “Listings Removed from the Market” (which would include statuses such as withdrawn, temporarily off the market, and canceled,) were along the same lines as last year at the same time. (But note, there were many less houses coming on active to the market.)
New pending listings are down significantly. On April 6 this year, there were 210 homes that went under contract vs 3o2 at the same time last year. April 7 – 191 vs 370 in 2019, April 8 – 360 vs 186, April 9 – 296 vs 190.
The daily showing activity has definitely dropped off, though there was a spike in activity over the weekend It is following the same peaks and valleys as last year, but at a much lower level. For example, the first Saturday in April 2019 had 6071 showings, while this year there were 3150 recorded.
I appreciate this data from Bright MLS and look forward to seeing the next report so I can share with you once received.
Here are past reports:
If you have questions about getting your Timonium 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!