Home Demand Index for the Baltimore Metro Area
Baltimore | May 2021
T3 Home Demand Index
The Bright MLS | T3 Home Demand Index for the Baltimore MLS market area rose 12 percent in April to 153, a reading reflecting a High
level of buyer demand. Demand was 56 percent higher than one year earlier, although a comparison with April 2020 largely reflects the sharp decline in demand and market disruptions in the early months of the pandemic.
level of buyer demand. Demand was 56 percent higher than one year earlier, although a comparison with April 2020 largely reflects the sharp decline in demand and market disruptions in the early months of the pandemic. Except for lower-priced single-family homes, demand rose in all segments of the market in April. Demand was strongest for higher-priced single-family and condo properties while lower-priced single-family homes continued a pattern of subdued demand. The month’s supply of homes ranged from a low of 0.8 for mid-priced single-family homes to a high of just 2.7 months for higher-priced condos.
Why is the home Demand Index important to both sellers and buyers? If demand is high, a buyer may choose to list their home at a more aggressive price while little to no demand would suggest listing at a lower price. This information is obviously also useful to buyers. If you would like the know the T3 Home Demand Index for your specific zip code, contact me.
I’m Greg Bridges with Long & Foster Real Estate. I don’t just sell real estate. I study and write about real estate in the Baltimore area. Office 410-889-9800, Mobile 410-215-0565 or g.bridges@lnf.com
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