YEAR END HOUSING STATS REVEAL STEADY MARKET
In 2017, residential sales in Maryland climbed by 3.2 percent, or more than 2,500 homes, according to the Maryland REALTORS®. Eighteen of Maryland's 24 jurisdictions posted gains in home sales ranging from 0.7 to 13.2 percent in 2017 as compared to 2016. Average and median prices statewide rose by 4.0 and 4.4 percent, respectively.
Prices also varied widely. Within the state, only Alleghany County, reported a decline in average price with a slight drop of 0.2 percent. All other counties registered a rise in average prices from 2.4 percent in Howard County to 18.8 percent in Garrett County. Average prices remained flat in Caroline County from 2016. Median prices in all jurisdictions rose, from 1.7 percent in Wicomico County to 25.4 percent in Somerset County.
"Overall, the 2017 residential sales market in Maryland was stable, said Maryland REALTORS® President Boyd Campbell. "While increases in both home sales and average and median prices are moderate, the steady nature of the overall residential real estate market in Maryland is a healthy trend for Maryland," added Campbell.
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Reported by the MRIS and Coastal Association of REALTORS®.
NOTE: UNITS ARE THE "UNITS" SOLD, PENDING ARE UNDER CONTRACT.
*Months of inventory based on current active inventory and monthly sales for the corresponding month; Data are revised on a regular basis. Readers of these reports should note that older reports have not been adjusted to reflect these revised data. This report, however, contains the latest reliable data to date.
*Maryland REALTORS® publishes the full Maryland Housing Statistics monthly; they are available through the Association's website, www.mdrealtor.org.
The Maryland REALTORS® is the largest Maryland professional trade association serving over 25,000 members and is dedicated to preserving the vitality of the real estate market. REALTORS® is a registered collective membership mark which may only be used by those real estate professionals who subscribe to the REALTORS® organization's strict Code of Ethics, and who are members of the National, State and Local REALTORS® organization.