The median sales price of a home in the Baltimore area last month grew to a decade’s high for January as inventory declined to its lowest level in more than 12 years.
Prices increased 1.7 percent to $239,000, according to data provided by MarketStats by ShowingTime based on listing activity from Bright MLS.
At the same time, closed sales across the Baltimore area inched up 0.7 percent to 2,211 in January. New listings declined 5.1 percent year-over-year to 3,433.
Overall, active listings fell by 14.2 percent to 7,804, the 20th straight month of a decline. Baltimore-area inventory is now at its lowest level since August 2005.
Condo inventories decreased 19.5 percent, single-family homes dropped 18.3 percent and townhome inventories fell by 6.2 percent.
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