NEWS
December 2020 Housing Market Update: Washington D.C. and Baltimore Metro
The Washington D.C. and Baltimore Metro real estate markets reported record-setting activity in 2020, despite enduring a weaker spring market due to social distancing protocols.
The following analysis of the Washington, D.C. Metro and Baltimore Metro Area housing markets has been prepared by Bright MLS and is based on December 2020 Bright MLS housing data.
DC Metro Area - Overview
- In 2020, the total sales dollar volume for the D.C. metro reached $34.6 billion (+11.7%).
- Total sales volume for the year (57,266) ended up 3.3%. Seven months of the year marked ten-year monthly highs.
- New listing volume was essentially flat with 2019. Combined with strong buyer demand, it created the region’s tightest market on record.
- The year saw buyers snap up homes across the metro area, as days on the market fell into the single digits for the first time (nine days).
- In December, new pending sales showed an unprecedented year-over-year growth, up 30.3% in a traditionally slow month. It was the best gain for any month in the past ten years.
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Baltimore Metro Area - Overview
- In 2020, the Baltimore metro’s total sales dollar volume hit $15.7 billion (+19.2%).
- Total sales volume for the year (44,860) gained 9.8%. Seven months of the year recorded a high for that month.
- The region contended with a shortage of available homes for sale, as new home listings fell -7.8%, with just over 53,000 homes put on the market.
- Homes stayed on the market for just under two weeks, thirteen fewer days than in 2019.
- In December, new listings saw a surprising spike compared to a year ago as volume (2,931) gained 20.1% from the prior December.
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About the DC Metro Housing Market Update
The DC Metro Area Housing Market Update provides unique insights into the state of the current housing market by measuring the number of new pending sales, trends by home characteristics, and key indicators through the most recent month compiled directly from Multiple Listing Service (MLS) data in ShowingTime’s proprietary database. The DC Metro Area housing market includes: Washington, D.C., Montgomery County and Prince George’s County in Maryland, and Alexandria City, Arlington County, Fairfax County, Fairfax City, and Falls Church City in Virginia. Data provided by MarketStats by ShowingTime, based on listing activity from Bright MLS.
About the Baltimore Metro Housing Market Update
The Baltimore Metro Area Housing Market Update provides unique insights into the state of the current housing market by measuring the number of new pending sales, trends by home characteristics, and key indicators through the most recent month compiled directly from Multiple Listing Service (MLS) data in ShowingTime’s proprietary database. The Baltimore Metro Area housing market includes the City of Baltimore, Anne Arundel County, Baltimore County, Carroll County, Harford County and Howard County in Maryland. Data provided by MarketStats by ShowingTime, based on listing activity from Bright MLS.
About Bright MLS
The Bright MLS real estate service area spans 40,000 square miles throughout the Mid-Atlantic region, including Delaware, Maryland, New Jersey, Pennsylvania, Virginia, Washington, D.C. and West Virginia. As a leading Multiple Listing Service (MLS), Bright serves approximately 95,000 real estate professionals who in turn serve over 20 million consumers. For more information, please visit www.brightmls.com.
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