Maryland real estate market trends from COVID-19 are being put together by our MLS, Bright MLS. Here is the update for the week ending March 21, 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 03/21/2021, the Maryland real estate data shows the following:
New this week is a chart called “New Purchase Contract to New Listing Ratio.” Last week, there were 1.14 new contracts written for every new listing, so there is still not enough inventory for eligible buyers.
In Maryland, the daily number of “New Active Listings” added to the market from 3/14-21 rose again from last report, finally getting higher than the same period last year. Luckily the listings are rising, as there are now 100.8% of the number of new listings from the same point in 2020. (Three weeks ago that number was just over 79%!) That being said, at this time in 2020, we were just in the beginning of stay at home orders, so those numbers may be skewed. Going back to 2019, though, listings are at 145.0% of the number two years ago.
New pending listings from 3/14-21 rose again this week, rising well above the same point last year. Again, the stay at home orders were just being put into place last year at this time, so it is not a good comparison. We will see over the next few weeks and months that 2020 at this time there was not much happening in the market.
Closings rose slightly last week, but still remained a good amount higher than the same point last year as well as 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!