Your Home Sold Guaranteed Realty - Vinny Steo

Central Maryland May Housing Report

Central Maryland May Housing Report

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.

If you are in the market for buying or selling a home, Vinny Steo is your best choice in Bel Air, Maryland to help you. Call us at 410-220-0016 or fill out the form below.


Phone Preference