The Baltimore, MD metro area housing market in February 2025 presents a complex landscape with varying trends across different metrics. The Median Sales Price has increased to $365,000, reflecting a modest year-over-year growth of 1.7%. Meanwhile, the Median List Price has risen by 3.0% to $379,900, indicating a stronger upward trend in sellers' expectations.

Price Per Square Foot

The median Price Per Square Foot has seen a slight increase of 1.4%, reaching $209.66. In contrast, the Median List Price per square foot has experienced a more significant rise of 6.3%, now standing at $220.91. This disparity suggests that while sellers are optimistic about pricing, buyers are exercising caution, leading to a more measured increase in actual sales prices.

Sales and Inventory

The number of Homes Sold has decreased by 3.6% year-over-year, totaling 1,987 units. Pending Sales have also dropped significantly by 13.3%, with 2,478 transactions in the pipeline. New Listings have declined by 8.6%, amounting to 2,662, while inventory has increased by 4.7% to 4,699 homes. The Months of Supply have risen by 20.0% to 2.40 months, indicating a shift towards a more balanced market, albeit still favoring sellers.

Market Dynamics

The Median Days on Market have increased by 5.0% to 37 days, suggesting a slight slowdown in the pace of sales. The average sale to list ratio has decreased by 0.6% to 99.3%, indicating that homes are selling slightly below the asking price. The percentage of Homes Sold above list price has seen a marginal increase of 0.2%, now at 38.3%, reflecting competitive bidding in certain segments.

Price Adjustments and Off-Market Activity

Price Drops have increased by 1.8%, with 25.2% of listings experiencing reductions. This trend suggests that sellers are adjusting expectations to align with market realities. The percentage of homes going off-market within two weeks has decreased by 3.5% to 48.5%, indicating a slower turnover rate compared to the previous year.

Conclusion

Overall, the Baltimore, MD metro area housing market in February 2025 exhibits a mix of growth and caution. While prices continue to rise, albeit at a moderate pace, the decline in sales and pending transactions points to a more cautious buyer sentiment. The increase in inventory and Months of Supply suggests a gradual shift towards a more balanced market, providing opportunities for both buyers and sellers to navigate the evolving landscape.