Maryland real estate market trends are being put together by our MLS, Bright MLS. Here is the update for the week ending June 6, 2021.
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 06/06/2021, the Maryland real estate data shows the following:
Last week, there was .79 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 sixth week in a row. I am still keeping an eye on whether this is the beginning of a trend, which could potentially open the market some for buyers, or whether this means that buyers may be taking a break until there are more houses from which to choose.
In Maryland, the daily number of “New Active Listings” added to the market from 6/1-6 from last report rose and remained much higher than the same period last year. Listings are now at 146/5% 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 127.2% of the number two years ago.
New pending listings from 6/1-6 dropped significantly this week, dropping below 2020 and just about meeting the same point as 2019. They were at 94.9% of the same time frame last year, and compared to 2019, pending listings were at 99.8%.
Closings also dropped quite a bit, but remained above the past two years – it was at 115.1% compared to 2019, and 139.4% 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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