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 28, 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 03/28/2021, the Maryland real estate data shows the following:
Last week, there were 1.11 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 3/21-28 rose again from last report, remaining higher than the same period last year. Luckily the listings are rising, as there are now 134.9% of the number of new listings from the same point in 2020. (Four weeks ago that number was just over 79%!) That being said, at this time in 2020, we were in stay at home orders, so those numbers may be skewed. Going back to 2019, though, listings are at 139.7% of the number two years ago.
New pending listings from 3/21-28 rose slightly 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. Compared to 2019, pending listings were still at 107.1% from that point, so it is still higher than a more “normal” year.
Closings dropped last week, they were at 85.3% compared to 2019, and 100.5% compared to the same week from March 2020, but again, 2020 numbers are from a time when we were put into a stay at home order, so the 2020 numbers are not reflective of a regular real estate market.
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!