At Home With Lisa-March 2022 Maryland Housing Stats

Maryland’s March 2022 Housing Data Continues Seven-Month Trend of Rising Prices and Fewer Sales

 

ANNAPOLIS, MD—April 14, 2022—Home sales prices continued to climb in Maryland’s March 2022 housing market, while the number of units sold dropped 8%, 7,548 against 8,204 units sold in March 2021. The average sales price rose 8% to $438,619 versus last year’s figure of $406,070. Median sales prices rose 8.7%, rising to $375,000, against the March 2021 figure of $345,000.

 

For seven straight months, prices have risen as the number of units sold have fallen. The number of units pending—homes under contract—dropped 7.3%, 9,126 versus 9,846 in 2021. Despite the drop in units pending, the homes that sell are moving more quickly, as median days on market dropped to just six days; In February 2022 this figure was nine days. The number of new listings fell as well, down 5.5% to 10,376 against March 2021’s 10,972.

 

“Nationwide, we’re witnessing a weaker demand for homes, but the effects seem more pronounced here in Maryland,” said Craig Wolf, 2022 President, Maryland REALTORS®. “Across the U.S., existing home sales fell 7.2% in February, while in Maryland they dropped 13.4%. Across the nation, median days on market ranged from nine to 28 days, depending on the sale price. In March, the number of days on market was 6, averaging across all counties, all sales.  All of us—more than just REALTORS®—have to give serious thought as to how we open housing opportunity and make housing affordability a reality.”

 

Info Provided by Maryland Realtors®

 

So if you are wondering if now is a good time to sell or buy, contact me and let's discuss it.

I'm Lisa Longest with Realty Navigator. I am a full time Realtor® GRI® RENE® and PSA® in Anne Arundel and Queen Anne . I am here for all your real estate needs. If you are looking to buy, sell or question me about the market in your area, feel free to contact me. My email is LisaLongest.RE@Gmail.com and cell is 443-786-4200.