Baltimore, MD Housing Market Report

The Baltimore housing market is currently undergoing a notable transition toward more balanced conditions, trending slightly in favor of buyers as we close out 2025. With active inventory surging by nearly 19 percent year-over-year to 6,481 available listings, the previous supply crunch has eased significantly. This influx of options, combined with a median days on market that has stretched to 51 days, suggests that the frantic bidding wars of previous years have largely subsided. While the sale-to-list ratio remains at a solid 1.0, indicating that homes are still selling for their asking prices, the increased time it takes to secure a contract gives buyers more leverage during inspections and negotiations.

Price trends over the latter half of 2025 reveal a cooling period for the city's residential values. After peaking in July at over $185,000, the median home value has seen five consecutive months of incremental declines, ending December at $183,339. This represents a modest year-over-year decrease of 0.74 percent. This softening of prices is likely a reaction to higher inventory levels and broader economic shifts within the Baltimore-Columbia-Towson metro area. In contrast, the rental market remains resilient, with median rents climbing over 2 percent to $1,720, suggesting that some would-be buyers are remaining in the rental pool due to interest rate sensitivity or general market caution.

Looking ahead, the Baltimore market presents a unique window of opportunity for first-time buyers and investors. Sellers must recalibrate their expectations, as the 12-day increase in market time means properties require more patience and strategic pricing to move. For buyers, the combination of slightly lower entry prices and significantly more inventory provides a chance to be selective. However, the stability of the sale-to-list ratio indicates that well-maintained homes in desirable neighborhoods still command full value. Prospective participants should monitor whether the inventory growth continues into the spring of 2026, as sustained supply increases could lead to further price corrections or a more pronounced buyer's market.