February 2025 Report
Baltimore Metro
Baltimore | February 2025
Home Demand Index
The Home Demand Index (HDI) for Baltimore stands at 66 this report period, marking an increase from last month’s 56 but a slight decline from last year’s 69. This rebound suggests a modest resurgence in buyer interest following last month’s dip, though demand remains softer compared to the same period last year. Ongoing economic factors, including affordability constraints and inventory challenges, continue to shape market conditions.
Entry-level single-family homes have seen a modest increase in demand. Mid-market single-family homes have experienced a 16% increase, while luxury single-family homes have grown by 31%. Entry-level condos have shifted from limited to steady demand, with inventory constraints still driving competition. Luxury condos have exhibited the largest increase in demand, moving from slow to moderate demand. Overall, the market is experiencing an uptick in demand across all property types, though supply constraints continue to shape trends.
Monthly Statistics for February 2025
Home Demand
Index
Index
66
(Limited)
Home Demand Index
from prior month
from prior month
56
Home Demand Index
from prior year
from prior year
69
Index change
from prior month
from prior month
17.9%
Index change from
same time last year
same time last year
-4.3%
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | February 2025
Home Demand Index | Historical Year-over-Year Comparison
The year-over-year comparison for Baltimore’s HDI reflects a slight decrease from 69 last year to 66 in this report period. This indicates a minor softening in market demand, though the recent month-over-month increase suggests potential stabilization. Market conditions remain influenced by fluctuating economic factors, including mortgage rates and limited inventory.
Home Demand Index
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | February 2025
Home Demand Map
Buyer interest in Baltimore County and Harford County has moved from limited to slow demand. Meanwhile, Howard County, Baltimore City, Anne Arundel County, and Carroll County remain in the limited demand category, reflecting continued sluggish activity. Coastal areas, such as DelMar Coastal and the Maryland Eastern Shore, has shifted from limited to slow, indicating a slight improvement in buyer activity.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | February 2025
Demand and Inventory by Home Type
Entry-level single-family homes have seen a modest increase in demand. Mid-market single-family homes have experienced a 16% increase, while luxury single-family homes have grown by 31%. Entry-level condos have shifted from limited to steady demand, with inventory constraints still driving competition. Luxury condos have exhibited the largest increase in demand, moving from slow to moderate demand. Overall, the market is experiencing an uptick in demand across all property types, though supply constraints continue to shape trends.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | February 2025
Single Family Home Below $360k
The entry-level single-family home index stands at 61, reflecting a slight increase from last month’s 59 but remaining below last year’s 63. This trend indicates stable buyer engagement, though affordability concerns may be tempering stronger growth. Limited inventory continues to shape demand in this segment.
Monthly Statistics for Single Family Home Below $360k
Home Demand
Index
Index
61
(Limited)
Home Demand Index
from prior month
from prior month
59
Home Demand Index
from prior year
from prior year
63
Months of
inventory
inventory
2.2
Average daily inventory last month
494
Inventory sold
last month
last month
221
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | February 2025
Single Family Home $360k - $815k
The mid-range single-family home index has risen to 59, up from 51 last month but still lower than last year’s 63. This increase suggests improving demand in this segment, possibly driven by seasonal factors or shifting affordability dynamics. However, year-over-year softness indicates lingering market hesitancy.
Monthly Statistics for Single Family Home $360k - $815k
Home Demand
Index
Index
59
(Limited)
Home Demand Index
from prior month
from prior month
51
Home Demand Index
from prior year
from prior year
63
Months of
Inventory
Inventory
2
Average daily inventory last month
886
Inventory sold
last month
last month
442
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | February 2025
Single Family Home Above $815k
The luxury single-family home index increased to 46, up from last month’s 35 but still below last year’s 56. This suggests a gradual recovery in buyer interest, though the high-end market remains subdued compared to a year ago. Affordability and economic uncertainties continue to influence demand in this segment.
Monthly Statistics for Single Family Home Above $815k
Home Demand
Index
Index
46
(Limited)
Home Demand Index
from prior month
from prior month
35
Home Demand Index
from prior year
from prior year
56
Months of
Inventory
Inventory
2.7
Average daily inventory last month
259
Inventory sold
last month
last month
97
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | February 2025
Condo Below $405k
The entry-level condo index surged to 92, up significantly from 72 last month but slightly below last year’s 97. This strong month-over-month growth suggests a rebound in buyer interest, potentially driven by seasonal trends or improved affordability. However, the slight year-over-year decline reflects ongoing market adjustments.
Monthly Statistics for Condo Below $405k
Home Demand
Index
Index
92
(Steady)
Home Demand Index
from prior month
from prior month
72
Home Demand Index
from prior year
from prior year
97
Months of
Inventory
Inventory
2.9
Average daily inventory last month
334
Inventory sold
last month
last month
117
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | February 2025
Condo Above $405k
The luxury condo index rose sharply to 118, up from 76 last month and slightly surpassing last year’s 117. This increase suggests a resurgence in buyer activity in the high-end condo market, possibly driven by shifting investment trends. Limited inventory continues to keep this segment competitive.
Monthly Statistics for Condo Above $405k
Home Demand
Index
Index
118
(Moderate)
Home Demand Index
from prior month
from prior month
76
Home Demand Index
from prior year
from prior year
117
Months of
Inventory
Inventory
2.8
Average daily inventory last month
86
Inventory sold
last month
last month
31
Bright MLS | T3 Home Demand Index
www.homedemandindex.com
Baltimore | February 2025
Townhouse/Rowhouse/Twin All prices
Townhouse/
Rowhouse/Twin
All prices
The index for townhouses, rowhouses, and twins increased to 76, up from 62 last month but nearly unchanged from last year’s 77. This month-over-month improvement suggests strengthening demand, while year-over-year stability indicates steady buyer interest in this segment. Inventory constraints may be sustaining competition among buyers.
Monthly Statistics for Townhouse/Rowhouse/TwinAll prices
Home Demand
Index
Index
76
(Slow)
Home Demand Index
from prior month
from prior month
62
Home Demand Index
from prior year
from prior year
77
Months of
Inventory
Inventory
3
Average daily inventory last month
2,152
Inventory sold
last month
last month
711
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 February 2025 period with data collected from the previous month.
Released: February 10, 2025
Reference ID: 2192
Baltimore | February 2025
Home Demand Map (Zip Codes)
Buyer interest in Baltimore County and Harford County has moved from limited to slow demand. Meanwhile, Howard County, Baltimore City, Anne Arundel County, and Carroll County remain in the limited demand category, reflecting continued sluggish activity. Coastal areas, such as DelMar Coastal and the Maryland Eastern Shore, has shifted from limited to slow, indicating a slight improvement in buyer activity.
Bright MLS | T3 Home Demand Index
www.homedemandindex.com