December 2021 Report
Baltimore Metro
Baltimore | December 2021
Home Demand Index
The Bright MLS | T3 Home Demand Index for the Baltimore Metro area fell by nearly 18 percent in November to a reading of 98. The Index signaled a Steady pace of buyer demand compared with a Moderate pace in October.
Demand remained in the High range for higher-priced single-family homes and higher-priced condos. Lower-priced single-family and lower-priced condos exhibited the weakest demand. Buyer interest for all types of homes declined in November compared with October. The Index decreased the most for higher-priced single-family homes with a drop of 25 percent. The monthly supply of inventory was flat, or down slightly, for each home type due to a decline in the number of listings in November. The monthly supply ranged from 1.3 months for mid-priced single-family homes to 2.9 months for higher-priced condos.
Monthly Statistics for December 2021
Home Demand
Index
Index
98
(Steady)
Home Demand Index
from prior month
from prior month
119
Home Demand Index
from prior year
from prior year
105
Index change
from prior month
from prior month
-17.6%
Index change from
same time last year
same time last year
-6.7%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | December 2021
Home Demand Index | Historical Year-over-Year Comparison
Home demand fell in November, a decline largely attributable to the usual decrease in home shopping activity at the end of the year. The decline follows several months during which the Index moved in a narrow range in the Moderate category of demand. While most of the November decrease was driven by the typical year-end decline in homebuying activity, rising home prices continued to reduce affordability for many would-be buyers.
Home Demand Index
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | December 2021
Home Demand Map
In the Baltimore Metro area, buyer demand remained High in Howard County but eased to a Moderate level in Baltimore County. Demand was Steady in Harford and Anne Arundel counties and Slow in Carroll County and Baltimore City. Buyer interest was Steady in the Maryland Eastern Shore region and the DelMar Coastal area, down from a Moderate pace in October. One-fourth of ZIP codes in the Greater Baltimore area recorded a High level of buyer demand, down from more than one-third of ZIP codes in October. Demand in one-third of communities was in the Moderate or Steady range, similar to the previous month, while the number of ZIP codes with Slow or Limited demand rose.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | December 2021
Demand and Inventory by Home Type
Demand remained in the High range for higher-priced single-family homes and higher-priced condos. Lower-priced single-family and lower-priced condos exhibited the weakest demand. Buyer interest for all types of homes declined in November compared with October. The Index decreased the most for higher-priced single-family homes with a drop of 25 percent. The monthly supply of inventory was flat, or down slightly, for each home type due to a decline in the number of listings in November. The monthly supply ranged from 1.3 months for mid-priced single-family homes to 2.9 months for higher-priced condos.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | December 2021
Single Family Home Below $250k
Buyer interest in lower-priced single-family homes continued to weaken in November, according to the Bright MLS | T3 Home Demand Index. The Index, at 42, reflected Limited buyer interest in homes at this price point. The months supply of homes for sale was unchanged from October at 1.5 with little change in either the inventory of homes for sale or the number of sales compared with the month before.
Monthly Statistics for Single Family Home Below $250k
Home Demand
Index
Index
42
(Limited)
Home Demand Index
from prior month
from prior month
51
Home Demand Index
from prior year
from prior year
65
Months of
inventory
inventory
1.5
Average daily inventory last month
306
Inventory sold
last month
last month
198
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | December 2021
Single Family Home $250k - $590k
Buyer interest in mid-priced single-family homes eased from a Moderate pace in October to a Steady pace in November. The Index was 16 percent lower over the month but at a level comparable to one year earlier. The months supply was unchanged over the month at 1.3, the lowest among the single-family segments.
Monthly Statistics for Single Family Home $250k - $590k
Home Demand
Index
Index
108
(Steady)
Home Demand Index
from prior month
from prior month
129
Home Demand Index
from prior year
from prior year
106
Months of
Inventory
Inventory
1.3
Average daily inventory last month
1,370
Inventory sold
last month
last month
1,076
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | December 2021
Single Family Home Above $590k
Following several months of extraordinarily strong demand, demand for higher-priced single-family homes fell markedly in November. Even with the 25 percent decrease, the Index remained in the High range with a reading of 144. The months supply decreased marginally to 1.5 mostly due to a decrease in the number of listings for sale.
Monthly Statistics for Single Family Home Above $590k
Home Demand
Index
Index
144
(High)
Home Demand Index
from prior month
from prior month
193
Home Demand Index
from prior year
from prior year
131
Months of
Inventory
Inventory
1.5
Average daily inventory last month
622
Inventory sold
last month
last month
405
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | December 2021
Condo Below $310k
The Bright MLS | T3 Home Demand Index for lower-priced condos decreased to 88, reflecting Slow demand. Compared with one year earlier, the Index was 21 percent lower. A very lean inventory of homes for sale may have limited would-be buyers in their search for homes. The months supply in November was just 1.2, the lowest of any Baltimore Metro area home segment.
Monthly Statistics for Condo Below $310k
Home Demand
Index
Index
88
(Slow)
Home Demand Index
from prior month
from prior month
109
Home Demand Index
from prior year
from prior year
111
Months of
Inventory
Inventory
1.2
Average daily inventory last month
256
Inventory sold
last month
last month
220
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | December 2021
Condo Above $310k
Buyer interest in higher-priced condos remained in the High category with an Index reading of 220, far higher than any other segment of the Baltimore Metro market. Compared to one year earlier, the Index was more than one-third higher as well. While still low at 2.9 months, the monthly supply fell slightly but remained greater than any other segment of the market.
Monthly Statistics for Condo Above $310k
Home Demand
Index
Index
220
(High)
Home Demand Index
from prior month
from prior month
249
Home Demand Index
from prior year
from prior year
160
Months of
Inventory
Inventory
2.9
Average daily inventory last month
173
Inventory sold
last month
last month
60
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | December 2021
Townhouse/Rowhouse/Twin All prices
Townhouse/
Rowhouse/Twin
All prices
The Bright MLS | T3 Home Demand Index for the townhouse segment was 107 in November, indicating Steady demand. The Index decreased by 18 percent over the month, closely tracking the overall softening of demand throughout the market area. The months’ supply was down marginally to 1.5 as the number of townhouse listings decreased in November.
Monthly Statistics for Townhouse/Rowhouse/TwinAll prices
Home Demand
Index
Index
107
(Steady)
Home Demand Index
from prior month
from prior month
131
Home Demand Index
from prior year
from prior year
115
Months of
Inventory
Inventory
1.5
Average daily inventory last month
2,360
Inventory sold
last month
last month
1,556
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Note
1. This report is generated with data from the following counties:
- Baltimore Metro – Anne Arundel, MD; Baltimore City, MD; Baltimore, MD; Carroll, MD; Harford, MD; Howard, MD;
- DelMar Coastal – Somerset, MD; Sussex, DE; Wicomico, MD; Worcester, MD;
- Maryland Eastern Shore – Caroline, MD; Cecil, MD; Dorchester, MD; Kent, MD; Queen Annes, MD; Talbot, MD;
2. This report is for the December 2021 period with data collected from the previous month.
Released: December 11, 2021
Reference ID: 1524
Baltimore | December 2021
Home Demand Map (Zip Codes)
In the Baltimore Metro area, buyer demand remained High in Howard County but eased to a Moderate level in Baltimore County. Demand was Steady in Harford and Anne Arundel counties and Slow in Carroll County and Baltimore City. Buyer interest was Steady in the Maryland Eastern Shore region and the DelMar Coastal area, down from a Moderate pace in October. One-fourth of ZIP codes in the Greater Baltimore area recorded a High level of buyer demand, down from more than one-third of ZIP codes in October. Demand in one-third of communities was in the Moderate or Steady range, similar to the previous month, while the number of ZIP codes with Slow or Limited demand rose.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com