Coronavirus Maryland real estate market trends are being put together by our MLS, Bright MLS. Here is the update for April 6, 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 04/06/2020, the data shows the following:
In Maryland, the daily number of “New Active Listings” added to the market in the past week was much lower near the end of last week, but about the same as last year over the weekend. On April 2, 329 houses came on the market in Maryland vs 440 at the same time last year, and April 3, 312 homes came on the market vs 419 at the same time last year.
The daily number of “Listings Removed from the Market” (which would include statuses such as withdrawn, temporarily off the market, and canceled,) were along the same lines as last year at the same time. There was a spike at the beginning of last week (as seen in Maryland Real Estate Trends due to COVID-19 March 30, 2020 Update, but since then the graph is along the same lines as last year.)
New pending listings are down significantly. On March 31 last year, there were 360 houses that signed contracts. March 31, 2020, 247 homes went under contract. April 1, 2020 – 199 vs 310 last year, April 2 – 238 vs 315, April 3 239 vs 329, April 4 – 170 vs 171 (a weekend drop?, April 5 -142 vs 159, and April 6 – 210 vs 338.
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!