Maryland real estate market trends are being put together by our MLS, Bright MLS. Here is the update for the week ending July 4, 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 07/04/2021, the Maryland real estate data shows the following:
Last week, there was .96 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 tenth week in a row. This week was closer to 1-to-1 than the past few weeks, so I will be tracking potential changes or shifts in the market.
In Maryland, the daily number of “New Active Listings” added to the market from 6/27-7/4 from last report dropped significantly, but remained much higher than the same period last year. Listings are now at 138.8% 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 152.7% of the number two years ago.
New pending listings from 6/27-7/4 rose this week, rising above 2020 after two weeks below, and remaining above the same point as 2019. They were at 104.1% of the same time frame last year, and compared to 2019, pending contracts were at 146.5%.
Closings spiked up this past week, they remained above 2020, and rose above 2019. Closings were at 297.1% compared to 2019, and 115.8% 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:
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