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  • Central Maryland October Housing Report

    Tuesday, November 24, 2020   /   by Vinny Steo

    Central Maryland October Housing Report

    nov- housing-stats.jpg

    November Median listing prices continue to grow at 12.9 percent 
    over last year,

    Economists, market watchers, and most especially buyers have been looking for signs of a slowdown in the housing market that has been red hot since its post-pandemic recovery. So far, at least, the median listing price continues to defy gravity.

    New listings were down 12 percentThe new listings trend took another step back this week. Earlier in the year, new listings growth was tied closely to the prevalence of coronavirus spread in various housing markets. The second week of larger declines in new sellers could be related to rising new coronavirus cases.

    Total inventory was down 39 percent. After five steady weeks at 38 percent, the total number of homes available for sale shrank by a slightly larger amount this week. Fewer new sellers coming to market while a greater than usual number of buyers continue to search for a home causes inventory to continue to evaporate.

    Houses Sold
    October 2020:                     3557
    October 2019:                      2740
    MTM Change:                       


    Days on Market: Seller
    DOM Oct. 2020:                   19
    DOM Oct. 2020:                   40
    YTY Change:                       -53%


    Days in Market: Buyer

    DIM Oct. 2020:                     19
    DIM Oct. 2019:                     53
    YTY Change:                        -64%


    Median List Price

    October 2020:                    $342,450
    October 2019:                    $335,000
    MTM Change:                     1.02%

    Median Sold Price

    October 2020:                    $350,000
    October 2019:                    $325,000
    MTM Change:                     1.08%


    Mortgage Rate as of November 19, 2020


    Mortgage Rate YTY- 30 Yr. Fixed

    November 19, 2020:                       2.72%
    October 19, 2020:                          2.81%
    MTM Change:                                  -3.2%
    November 19, 2019:                      3.66%
    YOY Change:                                  -26%