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(Flickr / Ian Muttoo / “For Sale” / CC BY-SA 2.0 / cropped and resized)
(Flickr / Ian Muttoo / “For Sale” / CC BY-SA 2.0 / cropped and resized)

Baltimore metro area housing market recovery continues

The Baltimore metro area housing market continues to gain momentum.

Home sales were up 14.5 percent year over year in April and the highest for that month in a decade, according to data provided by ShowTime RBI based on Metropolitan Regional Information System listing activity. The Baltimore metro area is defined in the analysis as Baltimore City and Baltimore, Harford, Carroll, Anne Arundel and Howard counties.

The median sales price for the area was $243,000 (a 5.7 percent increase from last year); sales volume reached nearly $900 million (about a 20 percent increase from last year); and the average percentage received of original listing price was 94.6 percent.

Baltimore City experienced the biggest year-over-year increase in median sales price. The median sales price increased from $102,750 last April to $135,000 this year.

Baltimore County experienced the biggest jump in the number of sales with an increase of 21 percent, followed closely by a 19.4 percent increase in Anne Arundel County.

Anne Arundel County also was tops in the market for pending sales with a nearly 24 percent increase from the same time last year.

Meanwhile, Carroll County had the biggest increase in new listings with a 9.3 percent increase from last April.

A strong showing in April follows an impressive March that saw median sales figures approaching levels the area hasn’t experienced since before the 2008 economic collapse.

Suburban Washington, D.C., areas also showed signs of strength last month.

Prince George’s County home sales increased 14.8 percent from the year before, and Montgomery County posted an 8.6 percent bump.

Those counties also led the D.C. metro area, including Northern Virginia, in new listings with a 9.1 percent increase in Prince George’s County and a 3.5 percent bump in Montgomery County.

About Adam Bednar

Adam Bednar covers real estate and development for The Daily Record.

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