Baltimore Metro Housing Market Report –November 2025

Housing Market Trends

Sales down sharply in November in the Baltimore metro area. Even as mortgage rates fell to a 13-month low, buyers in the Baltimore region are holding back. In November, there were 2,242 closed sales across the metro area, which was down 9.1% compared to last November. Sales were down in all counties except Carroll County. New pending sales fell by 1.4% year-over-year in November, though Howard County saw a boost in pending sales activity last month. Sellers are also holding back. There were 2,093 new listings that came onto the market in November, a 3.5% drop compared to last November. Inventory is still climbing as homes stay on the market longer. At the end of November, there were 6,016 active listings across the Baltimore metro area, a 27.2% jump from last November. The median days on market was 20, which was more than a week longer than a year ago.

Market Outlook

Through November, sales in the Baltimore metro area are tracking 1.0% below last year. With sluggish pending sales activity last month, expect 2025 sales to be right around 2024’s level. Economic uncertainty and affordability continue to be the main constraints on the housing market. With lower rates and softer price growth, housing market activity will pick up in the first half of 2026.

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