Maryland real estate market trends are collected and documented by our MLS, Bright MLS. Here is the update for the week ending January 15, 2023.
Bright MLS currently 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.
These stats have not been released since 12/11/22, so there has been a delay in information for the end of 2022 and beginning of 2023.
Starting on page 26 of the Bright MLS multi-state report 01/15/2022, the Maryland real estate data shows the following:
Last week, there were 2.42 new contracts accepted for every new listing, which means that this again past week there were not enough houses for sale vs homes that went under contract. That means for every 100 homes on the market, 242 homes went under contract!
In Maryland, the daily number of “New Active Listings” added to the market from 1/8-15 rose, remaining below 2022 and 2021 numbers. Listings last week were at 38.7% of the number of new listings from the same point in 2022. From 2019, listings are at 72.5% of the amount this same week.
New pending listings from 1/8-15 rose, remaining well below 2022 numbers and 2021 numbers. They were at 76.3% of the same time frame last year (2022,) and 85.0% compared to 2019.
Closings also rose last week. Closings stayed well below both 2022 and 2021 numbers. Closings were at 32.0% compared to 2022, and were at 46.0% compared to the same week from 2019.
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!