Maryland real estate market trends are being put together by our MLS, Bright MLS. Here is the update for the week ending May 23, 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 05/23/2021, the Maryland real estate data shows the following:
Last week, there was .88 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 fourth 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.
In Maryland, the daily number of “New Active Listings” added to the market from 5/16-23 from last report stayed about the same, and remained much higher than the same period last year. Listings are now at 154.9% of the number of new listings from the same point in 2020. That being said, at this time in 2020, we were dealing more with COVID restrictions, so those numbers may be skewed. Going back to 2019, listings are at 149.9% of the number two years ago.
New pending listings from 5/16-23 rose slightly this week, still above the same point as 2019. They were above last year (112.1%) at the same point last year. Compared to 2019, pending listings were at 111.4% from that point.
Closings rose very slightly last week, and remained above the past two years – it was at 116.8% compared to 2019, and 163.2% 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:
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!