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Central Maryland May Housing Report

Posted on June 5, 2020 (January 28, 2023) by Vinny Steo

Central Maryland May Housing Report

Houses Sold: 2,300
Average Sold Price $352,415
Median Sold Price: $335,000
Average Pending: 3,079¹

Year to Year Inventory:
May 2020:           5,050
May 2019:          13,331
Change:                -62%

Inventory Accumulation¹
May 2020: 2
May 2019: 3.9

Average List Price
May 2020: $370,373
May 2019: $355,581
Change: +4%

New Listings
May 2020: 3,628
May 2019: 4,056
Change: -11%

May Housing Report: Mortgage Rates Reach All-Time Low
The size and depth of the secondary mortgage market is helping to keep rates at record lows. According to the May housing report, these low rates are driving higher refinance activity and have modestly helped improve purchase demand from their extremely low levels in mid-May. While many people are benefitting from low mortgage rates, it’s important to remember that not all people are able to take advantage of them given the current pandemic.

Mortgage Rate Change April to May
30-Yr FRM – .08%
15-Yr FRM – .15%
5/1-Yr ARM – .01%

**Source Bright MLS**
Notes: Central Maryland includes the following Counties: Anne Arundel County, Cecil County, Baltimore City, Baltimore County, Harford County, Carroll County, Howard County, Prince George’s County
1-This is the number of months it would take to sell off all the currently active listings at this time.
Search Criteria- Houses between $200,000 – $600,000.

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"Vinny is the best! Vinny is knowledgeable and a great realtor to work with. We will refer our friends to him again and again! Their approach was professional and positive. We couldn't have been happier or more impressed with the service we received."

Vemarose Chu

"Vinny Steo and Lawrence Quigley did an outstanding job in helping me sell my home. If you are looking for a professional team to sell your home then Vinny and his team are your guys and girls!"

Ira Siegel

"We definitely recommend Vinny Steo, Lawrence, and the whole team at YHSGR to sell your home. They really live up to what they say. Thank you, Vinny!"

Neil Paugh

"Aaron and the team made this the easiest process for me. Their attention to detail made for a quick sale. Thanks!"

Joseph Tretta

"I want to thank Krissy for doing an outstanding job. She was very professional and answered all calls and messages. During our initial meeting, she went through the marketing process, detailing every step, from preparing the house for the showing to the settlement date. She went over our asking price and the profit we would make if we sold our home for that amount. I am extremely happy to say we received 12,400 dollars more than our asking price. Do not hesitate to call Vinny and his associates."

Scott64

"This was my uncle's house [Estate] that was being sold. Krissy and the team were great to work with. Always available 7 days a week. If not at that moment, then definitely a timely response. We went through a couple of contracts by no fault of YHSGR. The final showing went live in the morning and I had a signed offer/contract by lunch time that same day. I will always recommend Vinny Steo if the subject arises."

Tony Lysakovski

"Vinny genuinely cared about helping me find my first house. He walked me through every step and offered his insights without over-powering my tastes or concerns. I appreciate all his help!"

Deng Marucut

"Sold my house in Bel Air. Great support and great people helped guide me through a transition from my long time home to the next step in my life. Thank you."

Fran Boyce

"We feel exceptionally fortunate to have engaged Vinny Steo for our relocation. Our initial phone call with Vinny when we were looking for a realtor was very positive – he was extremely helpful in providing information."

Jhon Ray Tan

"Tom Hall and Vinny Steo made our first home purchase very stress-free and as easy as possible. They react extremely quickly to not only emails and questions but to ensure you get in immediately to see the house you want. At every step of the process, Tom and Vinny were side by side with us and made us feel not just like a client but family. What could have been a stressful situation in this market, they made sure it was the complete opposite. They took the time to listen and care and that is all you could ask for. Hands down the best there is! I highly recommend Tom Hall and Vinny Steo, as you will not be disappointed."

Ralph Wolff

"Vinny has been such a tremendous help to our family. Being first-time home buyers can be a very daunting experience for some people, but with Vinny's help, diligence, and organization, the process seemed much easier than we expected. He works very hard for his clients and we plan to use him as our realtor for future real estate purchases."

Paolo Bartolome (Pb)

"I really want to thank Lawrence Quigley of YHSGR for doing such a great job in helping my family sell our home. He did a great job in representing us and our wants in the home selling process. They relieved the stress of having to deal with everyday life experiences. We truly appreciate everything!"

James Anderson

"Your Home Sold Guaranteed lived up to all their promises. Great job with my Bel Air home. Thank you!!!"

GRE327

"We are very pleased with the way Vinny Steo handled our purchase of our home. They were prompt, friendly, and very knowledgeable. Vinny followed up on any and all concerns. He was our advocate throughout the process. This isn’t always true of realtors we’ve dealt with in the past."

Russel Buergo

"We have loved working with Vinny. He was very patient walking us through the process and answering all of our questions. We would recommend him to anyone looking to buy or sell a home."

Michael Arceo

"Aaron was helpful and responsive when I needed to find a house and get moving quickly as my lease was ending. He managed to set up several appointments quickly and make helpful suggestions in the offer process that helped the offer to be aggressive and well-received."

Matthew George

"The best real estate experience we have had. We have bought and sold houses over the years but never had a company that cared so much about the customer. Most companies only focus on the sale but Vinny and his team focused on us the entire time."

Lori Wechsler

"Working with Aaron was interesting. He was on the ball with every step we make. He was able to get my home sold in less than a week and $5,000 over my asking price!!!"

Michael Jacobs

"My experience was awesome! Aaron was on the ball from the start. Within days, he had the property listed and sold! I would highly recommend him to assist you. It was a very smooth process."

Lavern George

"Aaron got my property sold pretty quickly. I heard a lot of good things on the radio about all the marketing they are doing… I would certainly recommend them!!!"

Greta Mavronis

"Aaron held an open house, received multiple offers, and finally sold it for $5K over our asking price. Would certainly recommend them to my friends and family."

Craig Andresini

"Great company. Love having a guaranteed sale. Appreciate everything."

Kathy Verbiar

"Aaron Hensley was very supportive and informative during the entire selling process. Great experience with the Vinny Steo team."

Cal Benson

"Vinny Steo worked with us to identify the right property to meet our needs. Vinny was always accessible and willing to make a variety of suggestions and options so we can come up with the right decision. We feel we have a trustworthy agent, as well as a friend! Thank you, Vinny!"

Jay Ar Gegz

"Lawrence was great. He work with us through the process. Making sure we understood each step. He was able to accomplish everything he told us plus much more."

Jetta Krempel

"Krissy on the Steo team was wonderful in finding me a first new home. I told her what my price range was and had my pre-approvals ready for her. Only took a couple of days and she found me my first home! I would recommend everyone to work with her! She was awesome! Anyone ready for a new home start packing before you talk to her!"

Ginger Yocum

"I highly recommend the Vinny Steo Real Estate team, especially Lawrence and Jessica who have been nothing but fabulous to work with! They helped us in every step of the the selling process greatly reducing our stress levels. Furthermore, they sold our father's estate quickly and for more than the asking price! Thank you, Vinny Steo team!"

Taylor King

"The Steo Team is the best team we've done business with! If you are looking for quality service, this is the team to call! Erin was extremely helpful, patient and hands on! I would recommend them anytime, any day to everyone I know!"

Reese C. Tresvalles

"Aaron was very friendly and responsive. He and his team answered all our questions in a timely manner and made a stressful experience as smooth as possible!"

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"Vinny's team is incredible. They are easy to work with, detail-oriented, and always go the extra mile. 12/10 recommendations!! We will never buy without him again - Vinny made the entire experience as stress-free as possible!"

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