Maryland real estate market trends are being put together by our MLS, Bright MLS. Here is the update for the week ending July 18, 2021.
Please note that 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 24 of the Bright MLS multi-state report 07/18/2021, the Maryland real estate data shows the following:
Last week, there was .93 new contract written for every new listing, which means that this past week, there were enough homes on the market to keep up with the demand for the twelfth week in a row. It is creeping back up, so I am curious to see if this is trending up or staying around or below 1.
In Maryland, the daily number of “New Active Listings” added to the market from 7/11-18 from last report dropped dramatically, but remained higher than the same period last year. Listings are now at 107.2% of the number of new listings from the same point in 2020. That being said, at this time in 2020, we were dealing with COVID restrictions, so those numbers may be skewed. Going back to 2019, listings are at 101.1% of the number two years ago.
New pending listings from 7/1-18 plummeted again this week, remaining below 2020 again this week, and falling below the same point as 2019. They were at 75.9% of the same time frame last year, and 91.3% as compared to 2019.
Closings dropped again this past week, falling below 2020 and 2019. Closings were at 94.6% compared to 2019, and 83% 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:
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