Baltimore Metro Contract Activity Up in October, but Prices Slide
Posted on November 10, 2011 by Corey Hart
Nov

10

2011

 

Conforming Loan Limit Reduction Impacts High-End Market Segment

 

Rockville, MD –(November 10, 2011) – The following analysis of the Baltimore, Maryland, Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on the October 2011 RBI Pending Home Sales Index™ released today.

View PDF version of this release

 

OVERVIEW

There were 2,210 new pending sales in the Baltimore metro area for the month of October, 20.2% more than the same month last year, but the median sales price fell 8.2% compared to October 2010, marking the tenth straight month of year-over-year declines.  The reduced conforming loan limits, effective October 1, appear to have had a negative impact on higher priced home sales with the number of homes sold above $600,000 falling 45.3% from September. Home sales below $600,000, on the other hand, saw an 11.7% decline in sales. The drop-off in settlements for higher priced homes had a negative impact on the median sale price for October and is something to keep an eye on in the months ahead. 

 

 

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Baltimore Metro Area, market analysis, press release
September MarketWatch Videos are live
Posted on October 18, 2011 by Corey Hart
Oct

18

2011

The 9 regional MarketWatch videos are up, visit the Videos section to watch our analysis of your region and/or grab the relevant embed code.

 

 

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market analysis, videos
Baltimore Metro Area September Contract Activity Highest in Four Years
Posted on October 10, 2011 by Corey Hart
Oct

10

2011

Sales Volume Beats Last Year’s Levels with Modest Increases

Rockville, MD – (October 10, 2011) – The following analysis of the Baltimore, Maryland, metro area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on the September 2011 RBI Pending Home Sales Index™ released today.

 

View PDF version of this press release

OVERVIEW

September 2011 home sales in the Baltimore metro area edged out the September 2010 totals by the thinnest of margins. September sales this year of $513 million were a 0.7% increase over September 2010 sales of $509 million. And total units sold this September of 1,873 were 1.35% higher than the 1,848 units sold in September 2010.  However, new contacts written in September 2011 were 2,022, ahead of September 2010 by 11.9% and ahead of the last five year September average by 3.4%.

For the rest of 2011, year over year comparisons will continue to see the impact of last year’s tax credit.  The tax credit incentive moved sales ahead of the seasonal buying cycle and sales which would have otherwise occurred in Q3 and Q4, were incented to go under contract by April 30, 2010 to receive the credit.

 

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Baltimore Metro Area, press release
DC Metro Sold Prices Highest in September in Four Years
Posted on October 10, 2011 by Corey Hart
Oct

10

2011

Pending Sales Activity Follows Expected Seasonal Trends

Rockville, MD –(October 10, 2011) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on the September 2011 RBI Pending Home Sales Index™ released today.

 

View PDF version of this press release

OVERVIEW

Home sales in the Washington, D.C. metro area headed into the slower fall market losing some momentum as expected following the end of Washington’s seasonal summer peaks. There were 3,829 new contacts written in September 2011 beating September 2010 by 12.4% and 11.7% ahead of the five year September average. The total September contracts were 8.2% less than the 4,169 contracts signed in August 2011, consistent with the decrease in seasonal activity.  At $338,000, the median sales price for September 2011 showed some resilience as it was the highest September level since 2008.

 

 

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DC Metro Area, market analysis, press release
Two Mid-Atlantic Cities Make Zillow's Top 5 Fastest Sellers (but...)
Posted on September 22, 2011 by Corey Hart
Sep

22

2011

We came across the following article on Yahoo! Real Estate: U.S. Cities Where Homes Sell the Fastest

Among the Top 5, our very own Woodbridge, VA (Tied for #5) Alexandria, VA (#4).  So that's all well and good. But it's also a bit confusing.The article relies on Zillow's analysis of the median DOM for homes sold between mid-April and mid-July. It reports that Alexandria's Median DOM for this period was 74 days. However, when looking at the stats - from the MLS - on RBI, it shows an even faster median time to sell than that reported in the Zillow analysis!:

 

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market analysis

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