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REAL ESTATE INSIDER

Maryland housing markets among nation’s healthiest

California-Lexington Park area tops recent Nationwide rankings

A for-sale sign hangs on a house in the Baltimore neighborhood of Butchers Hill. (Maximilian Franz / The Daily Record)

A for-sale sign hangs on a house in the Baltimore neighborhood of Butchers Hill. (Maximilian Franz / The Daily Record)

Maryland is home to some of the healthiest housing markets in the nation, according to a recent ranking by Nationwide.

The California-Lexington Park market tops the list, followed by the Baltimore-Columbia-Towson market at No. 7. The Cumberland market comes in at No. 8, although a portion of it is in West Virginia.

Nationally, the report found the housing market continues on steady footing in most major markets. But there’s some concern “unsustainably strong house price gains are weighing on affordability and household formations slowed.”

The report follows news earlier this month that major metro areas in Maryland had a very strong February.

Data from MarketStats by ShowingTime based on MRIS listing activity found the median housing price in the Baltimore metro market increased 2.2 percent, about $5,000, year-over-year. In the Washington suburbs, the Prince George’s County median sales price jumped 19 percent year-over-year and during the same time periodm Montgomery County experienced a 5.4 percent increase in median housing price.

The housing market’s success coincides with strong jobs numbers in recent months. The state Department of Labor, Licensing and Regulation found Maryland added 7,500 private-sector jobs in January, with the state unemployment rate holding steady at 4.2 percent.

Strong housing numbers are expected to continue especially as the market moves into its most active spring and early summer season.

Do you have real estate news to share? Contact Adam Bednar at adam.bednar@thedailyrecord.com.


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