Friday, January 13, 2017

How is Maryland Doing in the Housing Market?

Where do housing prices stand for the state of MD compared to other states, by county, and by city? Here is the data available for the the year 2016.
  • STATE - There is general agreement that Maryland average housing prices rose over 2.5% but different sources report slightly different increases.   Freddie Mac Reports that Maryland housing prices rose 2.8% in 2016 (Sept 15-Sept 16), the Maryland Association Of Realtors puts that percentage at 2.6%..  Chart 1 shows how Maryland stacked average housing prices up against the average prices in other states. The big jump was in the number of units sold - 9.5% more than the previous year.
  • COUNTY -  Chart 2 shows the average sold price increases broken down by all counties in Maryland.  
  • CITY  - Chart 3 shows housing price changes broken down by city for Frederick County. Chart 4 shows the prices by city for Washington County, MD
  • INTEREST RATES - Another factor in housing sales are interest rates, which have begun to rise. Chart 5 shows the interest rate changes over 30 years. Click on the charts to see a larger view.

Chart 1 - US Housing Prices by State - Freddie Mac data

Chart 2 - MRIS 2016 Housing Statistics

Chart 3 -Average Sold Price by City for Frederick County, MD 2016

Chart 4 -Average Sold Price by City for Washington County, MD 2016

 Chart 5 - Historic Interest Rates on 30 Year Fixed Rate Mortgages