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Baltimore Housing Market

By Melina Duggal

Baltimore housing market stabilizes in April amid rising supply and muted demand

Modest changes in sales, rising inventory, and slowing price growth point to a market that is stabilizing, with supply beginning to catch up to more subdued demand.

Sales activity remains subdued, with weakness concentrated in condos

Home sales in the Baltimore region totaled 2,703 in April, declining 0.6% year over year and continuing a pattern of relatively flat activity following sharper declines in prior years. While conditions have stabilized, demand remained soft compared to stronger markets nationwide, as Baltimore continued to suffer from federal government cuts, other job losses, and out-migration.

Sales trends varied by property type, with single-family and townhome sales each increasing slightly by 0.2% to 1,355 and 1,102, respectively. In contrast, condo sales fell 7.9% to 246 transactions, reflecting weaker demand amid slower population growth, affordability constraints, and buyer preference for larger or more flexible housing.

Inventory growth accelerates, led by townhomes

Active listings rose 16.9% year over year to 8,897, an increase of 1,288 homes and one of the strongest gains among major U.S. markets. Supply expanded across all property types, though growth was most pronounced in the townhome segment, where listings increased 24.5% to 3,959. Single-family inventory increased 12.7% to 3,977, while condo listings rose a more modest 6.7% to 961.

This increase in inventory is driven by both decreased demand and increased new listings. New listings are up 7.4% year over year. Despite this recent growth, overall inventory remains significantly below pre-pandemic levels.

Price growth slows, with gains concentrated in single-family homes

Home price growth has slowed to a near standstill, with the median sale price rising just 0.3% year over year to $400,000, underperforming the national rate of 1.7%. This modest increase reflects a market where improving supply and softer demand are limiting price increases.

Trends varied by property type, with single-family home prices rising 2.2% to $511,200, supported by relatively steadier demand at higher price points. Townhome prices increased 1.6% to $320,000, while condo prices remained flat at $300,000, consistent with weaker sales activity in that segment. Pricing conditions point to a market that is stabilizing, with limited appreciation as supply expands and buyer demand remains selective.

Three boxes with Baltimore average sale price, total active listings, and total home sales in April 2026.
Baltimore had a median sale price of $400,000, almost 9,000 active listings, and 2,703 home sales in April 2026.

Baltimore Sale Prices

The median home sale price in Baltimore increased by 0.3% compared to the same time last year, while the national median price rose by 1.7%.

Baltimore ranks 25th for annual median price change among the top 40 US markets

Baltimore median home prices rose by $1,000 year over year on a nominal basis in April to $400,000. Meanwhile, the national median home price increased by $6,500 to $390,000.

Baltimore's median home price is just above the nation's

Baltimore was the 24th highest-priced housing market among the top 40 largest markets last month. The Baltimore median home price of $400,000 was 2.6% above the national median home price. Baltimore's median home price in April compares to the market's peak of $420,000 recorded in June of 2025.

Baltimore single-family prices increase

The median price of Baltimore single-family homes rose $11,200 over the past year to $511,200, while the median townhome price grew 1.6%, and the median condo price did not change.

Dashboard showing Baltimore home price at $400,000 with 0.3% annual growth and rankings near 25th versus U.S. benchmarks.
Baltimore’s median sale price reached $400,000, slightly above the U.S. at $390,000, while annual growth of 0.3% ranked in the lower half nationally, at 25th.

Bar chart of Baltimore sale prices from 2018 to 2026 showing it rose to $400,000 in April 2026 and recently plateaued.
After steady gains since 2018, Baltimore home prices leveled off at approximately $400,000 in 2025 and 2026, following earlier rapid appreciation.

Area chart of annual price changes from 2018 to 2026, showing a peak above 15% followed by a decline to low single digits.
Annual price growth moderated to low single digits, following a peak above 15% during the height of pandemic-era appreciation.

Column chart showing April price growth declining from 10.0% in 2021 to 0.3% in 2026.
April price growth slowed to 0.3% in 2026, down from 6.4% in 2025 and well below the 10.0% peak recorded in 2021.

Horizontal bar chart comparing metro home prices, with Baltimore at $400,000 positioned near the middle of the distribution.
At $400,000, Baltimore ranked in the middle of major metros, below high-cost coastal markets but aligned with several Sun Belt and Midwest peers.

Horizontal bar chart of metro price growth showing Baltimore at 0.3%, a weaker performer compared to other markets.
Baltimore’s 0.3% annual growth ranked among the lower half of major metros, trailing stronger Midwestern markets and several Sun Belt peers.

Panel showing single-family, townhome, and condo prices, with single-family highest at $511,200 and condominiums flat at $300,000.
Single-family homes reached $511,200 with 2.2% growth, while condominiums remained at $300,000 with no recorded annual appreciation.

Bar charts comparing property types show stronger pricing and growth in single-family homes, with condominiums showing no growth.
Price gains were concentrated in single-family homes and townhomes, while condominium pricing remained flat, reflecting weaker demand in that segment.

Baltimore Inventory

The number of active listings in Baltimore increased by 16.9% in April compared to the same time last year, while national active listings rose by 6.3%.

Baltimore's inventory of homes for sale increases

Baltimore active listings rose by 1,288 year over year in April to 8,897 active listings. Baltimore ranked ninth, on a percentage basis, for the annual change in the number of homes for sale among the top 40 U.S. markets in April.

Baltimore active listings are below their pre-pandemic levels

Baltimore active listings were below their pre-pandemic levels in April. Baltimore active listings were 41.0% below the April 2019 total of 15,092.

Baltimore single-family inventory grows

Baltimore single-family active listings grew by 12.7% to 3,977 in April. In comparison, townhome active listings rose by 24.5% to 3,959, and condo active listings increased by 6.7% to 961.


Dashboard showing 8,897 active listings in Baltimore, up 16.9%, exceeding the 6.3% national increase and ranking ninth.
Active listings in Baltimore increased to 8,897, rising 16.9% year over year, which significantly outpaced the national gain of 6.3% and ranked ninth nationally for growth.

Bar chart of Baltimore active listings from 2018 to 2026 showing a decline from 16,000 to a recovery of about 8,900.
After declining from a peak near 16,000 listings in 2019, inventory recovered to nearly 9,000 by 2026, which reversed earlier supply constraints.

Area chart showing active listing growth shifting from declines near negative 30% to gains above 15% by 2026.
Inventory growth rebounded sharply into positive territory after multiple years of steep declines and reached double-digit gains in 2025 and 2026.

Column chart showing April listing changes from negative 26.3% declines to positive 16.9% increase in 2026.
Active listings increased 16.9% in April 2026, following gains of 7.8% in 2025 and 9.5% in 2024 after earlier declines exceeding 20%.

Horizontal bar chart comparing metro listings, with Baltimore at 8,897 near mid-to-lower tier among major markets.
With 8,897 active listings, Baltimore ranked below larger Sun Belt and coastal markets but aligned with mid-tier metros, such as Pittsburgh and Indianapolis.

Horizontal bar chart of metro listing growth showing Baltimore at 16.9%, among higher-performing markets.
Baltimore’s 16.9% increase ranked among the stronger inventory gains nationally, placing it alongside Midwest and Northeast markets experiencing supply recovery.

Panel showing listings by property type with townhomes growing 24.5%, single-family homes 12.7%, and condos 6.7%.
Townhomes recorded the fastest inventory growth at 24.5%, compared to 12.7% for single-family homes and 6.7% for condos.

Bar charts showing 3,977 single-family and 3,959 townhome listings, with stronger growth in townhomes than other property types.
Inventory levels were similar between single-family homes with 3,977 listings and townhomes with 3,959 listings, though growth was more pronounced in the townhome segment.

Baltimore Home Sales

The number of home sales in Baltimore decreased by 0.6% in April compared to the same time last year, while national home sales rose by 0.6%.

Baltimore home sales decrease

Baltimore home sales declined by 16 year over year on a nominal basis in April to 2,703. For context, 2,719 sales closed in Baltimore in April 2025.

Baltimore's annual home sales activity change ranks 19th nationally

Baltimore ranked 19th for the annual change in home sales out of the top 40 U.S. markets in April on a percentage basis. This year's April decrease of 0.6% compares to the 2.9% year over year decrease in April 2025.

Single-family sales in Baltimore are higher than a year ago

Baltimore single-family sales increased by 0.2% in April to 1,355. In comparison, townhome sales rose by 0.2% to 1,102, and condo sales fell by 7.9% to 246.

Dashboard showing Baltimore home sales levels, modest annual change, and weaker recent performance relative to broader U.S. trends.
Home sales activity in Baltimore remained subdued in the most recent period, with limited annual change and performance that lagged stronger national markets.

Line chart of Baltimore home sales from 2018 to 2026 showing pandemic peak followed by sustained lower activity.
After peaking during the pandemic-era surge, Baltimore home sales declined and remained below prior highs through 2025 and 2026.

Area chart showing home sales growth peaking near 40% then falling below negative 30% before stabilizing.
Annual home sales growth turned sharply negative after 2021, with declines that exceeded 30% before stabilizing at or near flat in recent years.

Column chart showing April home sales change ranging from positive 32.8% peak to negative 33.1% decline and near flat recently.
April home sales fell by 0.6% in 2026, following a modest 5.9% increase in 2025 and a sharp 33.1% decline in 2023.

Horizontal bar chart comparing metro home sales, with Baltimore positioned near the middle of overall transaction volumes.
Baltimore ranked in the middle tier of major metros for total home sales, reflecting moderate transaction volume relative to peers.

Horizontal bar chart comparing metro home sales growth, showing Baltimore with a small decline relative to stronger markets.
Baltimore recorded a slight decline in annual home sales, placing it among weaker-performing markets compared to peers with stronger recoveries.

Panel comparing single-family homes, townhomes and condos, showing strongest performance in single-family homes and weakest in condominiums.
Single-family homes and townhomes recorded moderate sales and growth, while condos showed weaker performance.

Bar charts comparing home sales and growth by property type, with stronger activity in single-family homes than townhomes and condos.
Sales activity trends varied by property type, with single-family homes and townhomes showing greater resilience, while condos experienced softer demand.

For questions and commentary about this report:

Melina Duggal, Senior Director of Market Analytics at CoStar and Homes.com, based in the Baltimore-Washington region, is available for interviews to provide expert insights on this data and the broader residential real estate market.

Melina Duggal

Senior Director Market Analytics

Homes.com

mduggal@costar.com

Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all transactions are accounted for, they provide an early indication of home price appreciation, inventory changes, and sales volume in Baltimore during April 2026.

For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.

Definition of Sale Prices

Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Inventory

Inventory is the number of unique active listings that were for sale during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Home Sales

The total number of closed home sales on the MLS during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

About the Homes.com Market Analytics Team

The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.

About Homes.com Analytics Data

The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.

The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.

Writer
Melina Duggal

Melina Duggal, AICP, is the Senior Director of Market Analytics at CoStar and Homes.com, where she delivers insights on commercial and residential real estate across the Washington, D.C., Baltimore, and Norfolk regions. With more than 25 years of experience in real estate consulting and analytics, Melina brings deep expertise in market fundamentals, development feasibility, and regional dynamics. She founded and led Duggal Real Estate Advisors and earlier advised public‑ and private‑sector real estate clients at RCLCO. She has taught real estate at the University of Michigan, the University of Maryland, and George Mason University. Melina is a frequent speaker, including for the Urban Land Institute, Commercial Real Estate Women Network (CREW), the National Association of Home Builders, and the American Planning Association. She has published numerous articles and is a contributing author for real estate books. She has been quoted in The New York Times, Urban Land, and The Wall Street Journal. She holds a master’s degree in Urban Planning from the University of Michigan.

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