Baltimore Metro Housing Market Report – February 2025

Prices still rising in the Baltimore metro area, but activity lags last year. Some Baltimore metro buyers and sellers are still waiting in the wings. New pending sales dropped 9.1% in February 2025 compared to February 2024. Across the region, only Harford County had more contracts than a year ago. New listings were lower in February as well, declining 12.9% year-over-year. At 2,335, the number of new listings was the lowest February total in more than 20 years. All counties in the region had fewer new listings. There were 4,235 homes on the market at the end of February 2025, 16.6% higher than last year. However, inventory remains constrained at roughly half the number of homes on the market in 2019. With slower buyer activity and more inventory, prices have not been rising as quickly in the Baltimore area market. The median sale price in February was $372,250, up 3.4% compared to February 2024.

Easing mortgage rates may encourage more activity as the spring buying season approaches. The slower pace of price growth won’t cure affordability challenges but could help some on-the-fence buyers. However, economic uncertainty may cause some prospective buyers and sellers to take a wait and see approach heading into spring. 

 

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