Home buying and selling in the Baltimore area
Fewer homes coming into the pipeline, more going out -- that's all to the good for would-be sellers.
We're not back to a pre-bubble balance between new contracts and new for-sale listings, though. Here's a graph that tells the tale, showing stats for the month of September throughout the decade:
Source: Baltimore Sun analysis of Metropolitan Regional Information Systems data
The number of new listings was 62 percent larger than newly signed contracts last month. By comparison, new listings were about 40 percent more numerous than new contracts in September of 2000 and 2001.
On the upside: 62 percent more new listings than new contracts is a lot closer to normal than 119 percent (September '08) or 165 percent (September '07).
The approximately 4,300 new listings that hit the market last month are also the lowest since 2003, when they dropped below 4,000.
Comments
Do you have any idea how many of these transactions are foreclosure related?
Posted by: smithbaltimore | October 27, 2009 11:42 AM
Wish I did, smithbaltimore. This is drawn from the monthly statistics issued by Metropolitan Regional Information Systems, and it doesn't break down the numbers by foreclosure, short sale, etc.
Posted by: Jamie Smith Hopkins | October 27, 2009 12:00 PM