Weekly Market Report: Week Ending May 5, 2024

Written By K Signings LLC

  • New listings continue to increase. In the week ending May 5. there were 1,001 new listings in the Baltimore Metro area. This represents an increases of 17.2% compared to the same week in 2023. Historically, early to mid-May tends to have the highest number of weekly new listings for the year. Consequently, this spring is set to offer a wider array of options to prospective buyers.

  • New contracts higher than a week ago. This week there were 942 new contracts in the Baltimore Metro area. which i a 0.3% tick over last year. While small, this is progression.

  • Median list price continues to rise. The median list price for the week ending May 5 eased to $400,000, a 1.3% increase from last week. Affordability is still a challenge, as the median list price is 1.3% greater than the same week in 2023.

Showings: 14,215

New Purchase Contracts: 942

Median Time to Contract: 19 days

New Listings: 1,001

Median List Price: $400,000

Active Listings: 3,679

% Active Listings with Price Decrease: 9.6%

Canceled Listings: 54

K Signings LLC https://www.ksigningsllc.com/
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Weekly Market Report: Week Ending April 28, 2024