December 2024 Report
Baltimore Metro
Baltimore | December 2024
Home Demand Index
The Home Demand Index (HDI) for Baltimore stands at 73 this report period, a slight decrease from 74 last month but an increase from 67 a year ago. This reflects a marginal cooling in buyer activity compared to last month, though year-over-year growth indicates a more robust market recovery. Economic factors such as mortgage rates and inventory constraints continue to shape market dynamics.
Demand for entry-level single-family homes remains unchanged, reflecting constrained inventory and affordability challenges. Luxury condos maintain the highest buyer interest but show slight cooling in demand compared to last month. Luxury single-family homes face slower demand amid limited inventory. Mid-market single-family homes experience a modest softening, while entry-level condos have shifted from steady to slow demand. Townhouses remain in slow demand. Overall, the market demonstrates mixed performance, shaped by evolving buyer preferences and economic conditions.
Monthly Statistics for December 2024
Home Demand
Index
Index
73
(Slow)
Home Demand Index
from prior month
from prior month
74
Home Demand Index
from prior year
from prior year
67
Index change
from prior month
from prior month
-1.4%
Index change from
same time last year
same time last year
9%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | December 2024
Home Demand Index | Historical Year-over-Year Comparison
The year-over-year comparison for Baltimore’s HDI shows an increase from 67 a year ago to 73 this report period. This growth highlights a gradual strengthening in buyer interest, even as monthly fluctuations persist. The trend points to cautious optimism in the market despite ongoing economic challenges.
Home Demand Index
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | December 2024
Home Demand Map
In the Baltimore Metro area, buyer interest in Howard, Harford, Baltimore, and Anne Arundel Counties reflects a slow pace of demand. Baltimore City and Carroll County continue to experience limited buyer interest, marking the lowest activity across the region. Coastal areas, such as DelMar Coastal, maintain steady interest, while the Maryland Eastern Shore continues to experience slow demand.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | December 2024
Demand and Inventory by Home Type
Demand for entry-level single-family homes remains unchanged, reflecting constrained inventory and affordability challenges. Luxury condos maintain the highest buyer interest but show slight cooling in demand compared to last month. Luxury single-family homes face slower demand amid limited inventory. Mid-market single-family homes experience a modest softening, while entry-level condos have shifted from steady to slow demand. Townhouses remain in slow demand. Overall, the market demonstrates mixed performance, shaped by evolving buyer preferences and economic conditions.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | December 2024
Single Family Home Below $358k
The entry-level index for single-family homes is steady at 65, consistent with last month but showing growth from last year’s 60. This stability indicates consistent buyer interest despite ongoing affordability challenges. Limited inventory continues to constrain the market, maintaining competitiveness in this segment.
Monthly Statistics for Single Family Home Below $358k
Home Demand
Index
Index
65
(Limited)
Home Demand Index
from prior month
from prior month
65
Home Demand Index
from prior year
from prior year
60
Months of
inventory
inventory
2.1
Average daily inventory last month
552
Inventory sold
last month
last month
262
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | December 2024
Single Family Home $358k - $815k
The index for mid-range single-family homes stands at 71, down from 74 last month but up from last year’s 63. This reflects a slight cooling in month-over-month demand but sustained annual growth. Inventory limitations continue to drive competitive conditions in this segment.
Monthly Statistics for Single Family Home $358k - $815k
Home Demand
Index
Index
71
(Slow)
Home Demand Index
from prior month
from prior month
74
Home Demand Index
from prior year
from prior year
63
Months of
Inventory
Inventory
1.8
Average daily inventory last month
1,309
Inventory sold
last month
last month
720
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | December 2024
Single Family Home Above $815k
The index for luxury single-family homes has dropped to 58, down from last month’s 71 and close to last year’s 59. This decline highlights cooling buyer interest in the high-end market, potentially driven by economic uncertainties. Despite softer demand, inventory remains tight, supporting ongoing competition.
Monthly Statistics for Single Family Home Above $815k
Home Demand
Index
Index
58
(Limited)
Home Demand Index
from prior month
from prior month
71
Home Demand Index
from prior year
from prior year
59
Months of
Inventory
Inventory
2.8
Average daily inventory last month
426
Inventory sold
last month
last month
152
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | December 2024
Condo Below $400k
The entry-level condo index stands at 89, reflecting a slight decrease from last month’s 93 but remaining above last year’s 87. This suggests stable year-over-year demand with minor cooling month-over-month. Affordability and constrained inventory continue to drive buyer interest in this segment.
Monthly Statistics for Condo Below $400k
Home Demand
Index
Index
89
(Slow)
Home Demand Index
from prior month
from prior month
93
Home Demand Index
from prior year
from prior year
87
Months of
Inventory
Inventory
3.3
Average daily inventory last month
377
Inventory sold
last month
last month
115
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | December 2024
Condo Above $400k
The luxury condo index stands at 110, a decrease from last month’s 124 but significantly higher than last year’s 93. This decline indicates a softening in recent buyer interest, though the year-over-year improvement reflects ongoing demand in the high-end segment. Inventory availability continues to shape market conditions.
Monthly Statistics for Condo Above $400k
Home Demand
Index
Index
110
(Moderate)
Home Demand Index
from prior month
from prior month
124
Home Demand Index
from prior year
from prior year
93
Months of
Inventory
Inventory
3.3
Average daily inventory last month
103
Inventory sold
last month
last month
31
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | December 2024
Townhouse/Rowhouse/Twin All prices
Townhouse/
Rowhouse/Twin
All prices
The index for townhouses, rowhouses, and twins is at 80, up from last month’s 77 and last year’s 75. This increase highlights growing buyer interest in these home types, likely driven by their affordability and appeal in various settings. The market remains competitive, supported by limited inventory and consistent demand.
Monthly Statistics for Townhouse/Rowhouse/TwinAll prices
Home Demand
Index
Index
80
(Slow)
Home Demand Index
from prior month
from prior month
77
Home Demand Index
from prior year
from prior year
75
Months of
Inventory
Inventory
3
Average daily inventory last month
2,669
Inventory sold
last month
last month
890
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 2024 period with data collected from the previous month.
Released: December 10, 2024
Reference ID: 2158
Baltimore | December 2024
Home Demand Map (Zip Codes)
In the Baltimore Metro area, buyer interest in Howard, Harford, Baltimore, and Anne Arundel Counties reflects a slow pace of demand. Baltimore City and Carroll County continue to experience limited buyer interest, marking the lowest activity across the region. Coastal areas, such as DelMar Coastal, maintain steady interest, while the Maryland Eastern Shore continues to experience slow demand.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com