The 2025 Mid-Atlantic Housing Outlook, including specifics on the Baltimore real estate market, has been released by Bright MLS, our local MLS service.

The Baltimore real estate market has definitely seen changes over the past year. With higher interest rates for mortgages, yet prices still staying higher than years’ past, the demand for homes has pent up as the realization that interest rates may not fall as much as people had hoped hit and buyers jumped back into the housing market – especially in October.

October had a jump in both closed sales and pending sales, which indicates a potentially strong end to 2024 with an expected total of 221,786 home sales in the Bright MLS area, which is an 1.8% increase over 2023.

Mortgage rates are expected to fall somewhat in 2025 but economists say there is a possibility of economic uncertainty growing in the coming year, which could leave potential buyers and sellers feeling less financially secure.

Bright MLS economists are forecasting a total of 237,963 sales in the Bright MLS service area in 2025, which is an increase of 7.5% from 2024. Sales are still tracking below long-term averages, with 2025 sales activity projected to be 83% of 2019 sales. (In 2024, sales were just 77% of 2019 levels.)

In 2019, 37,829 homes sold in the Baltimore metropolitan area. In 2020, 43,151 homes sold. That number jumped up to 47,848 in 2021, while in 2022, 39,600 homes sold. In 2023 31,478 homes sold, in 2024 so far 31,464 homes have sold.

Bright MLS economist Lisa Sturtevant projects that in 2025, 33,388 Baltimore area homes will sell, a rise of 7.4% from 2024.

Median home prices in Baltimore are expected to continue to rise over 2024. In 2019, Baltimore area the median home sales price was $284,260. That rose to $309,000 in 2020, $335,000 in 2021, a spike up to $351,450 in 2022, and up to $364,000 in 2023. So far in 2024, $387,997 is the mean sales price. The expected mean sales price in Baltimore homes is $404,200 in 2025.

I thank Bright MLS for these statistics and projections.

Please contact me to help you navigate through this changing Baltimore real estate market. I would be pleased to be of service!