A total of 3,660 homes were sold in Maryland during January, which represented an 11.9% drop from the 4,155 sales recorded one year earlier.
But while sales were down, new data from Maryland Realtors showed pending sales were up by 8.1% over the same period. Still, the market had its challenges – active inventory slid by 13.2% while new listings plummeted 23.5%.
“With pending sales up, it clearly shows buyer demand is still there,” said Denise Lewis, 2026 President of Maryland Realtors. “What’s concerning is that active inventory and new listings are falling at the same time. Housing supply is not being replenished.”
The only upward data activity last month involved pricing. The average sales price increased 3.4% year-over-year to $495,038 and the median sales price inched up by 0.5% to $410,000.
