Director of Communications and Public Affairs
“August statistics reveal that the residential sales market remains constant, according to the Maryland REALTORS Ò . Home sales rose by 1.5 percent in the state overall with large increases in rural counties with smaller inventories. For the third month in a row, both average and median prices grew by 3.8 and 3.4 percent respectively as compared to the same time in 2016.
“As in previous months, the residential sales market is in a classic summer mode, said Maryland REALTORS Ò President Shelly Murray. “The slower sales numbers are typical in August,” she added. Murray went on to note, “However, sales in the smaller counties were especially notable, such as the rise from 13 to 24 homes or almost an 85 percent jump in sales in Somerset County. We hope this heralds a robust market in the coming months.”
Maryland monthly housing statistics are compiled by data as reported by MRIS and the Coastal Association of REALTORS®. For the purposes of this report, “units” are defined as the closed sales and “pending units” are properties under contract. Months of inventory are based on the current active inventory and monthly sales for the corresponding month.
*MAR publishes the Maryland Housing Statistics monthly; it is available through the Association’s website, www.mdrealtor.org
The Maryland REALTORS® is the largest Maryland professional trade association, serving over 22,000 members, and is dedicated to preserving the vitality of the real estate market. REALTOR® is a registered collective membership mark which may only be used by those real estate professionals who subscribe to the REALTOR® organization’s strict Code of Ethics, and who are members of the National, State and Local REALTOR® organizations.”
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