Baltimore Residential Real Estate Brief

Week of September 28, 2026

1. Baltimore listings increased, but contracts remained weak

Confirmed: For the week ending September 20, Baltimore Metro:

• New listings increased 6.7% year over year and 0.1% from the previous week.
• New pending sales declined 11.5% year over year, despite increasing 0.5% week to week.
• Median time to contract was 38 days.
• Median list price was unchanged for the week but 2.6% higher than one year ago. Maryland Real Estate Agent

Across the entire Bright MLS region, new contracts fell 8.7% year over year to 4,826. TysonsToday

Interpretation: Baltimore’s supply-demand imbalance widened during the week: more homes entered the market, but contracts remained substantially below last year. Prices have not broadly fallen, yet sellers are waiting longer for acceptable offers.

Brokerage decision: Base listing reviews on the property’s first 10–14 days. Compare showing volume, competing-listing changes and buyer feedback before deciding whether the problem is price, condition or presentation.

Watch next: Price reductions, concessions and active-to-pending ratios within each target neighborhood. Metro figures should not be applied automatically to Catonsville, Randallstown, Owings Mills, Woodlawn, Windsor Mill, Pikesville, Columbia or Ellicott City.

2. Baltimore demand weakened across most property categories

Confirmed: The September Baltimore Home Demand Index fell from 87 to 83, remaining in the “Slow” category.

Demand by property segment included:

• Detached homes below $380,000: 67—Limited
• Detached homes from $380,000 to $875,000: 81—Slow
• Townhouses: 80—Slow, down from 92
• Condominiums below $420,000: 105—Steady
• Condominiums above $420,000: 117—Moderate, the strongest segment reported

The index covers the broader Baltimore region and reflects prior-month activity. Maryland Real Estate Agent

Interpretation: The market is not moving uniformly. Condominiums are showing comparatively stronger demand, while entry-level detached homes remain constrained—likely reflecting the combined effects of mortgage rates, taxes, insurance and maintenance costs.

Client education: “More inventory” does not necessarily mean every buyer has greater affordability or every seller must reduce their price. Property type and total monthly ownership cost increasingly influence demand.

3. Mortgage rates crossed 7%

Confirmed: Freddie Mac’s national 30-year fixed-rate average reached 7.03% on September 24, up from 6.95% the previous week. The 15-year average rose from 6.26% to 6.42%. Freddie Mac

MBA reported that mortgage applications declined 1.5% during the week ending September 18, marking a third consecutive weekly decrease. MBA

Why it matters: Rates have risen from 6.66% in late August to above 7% in approximately one month. Buyers qualified earlier in the search process may no longer have the same purchasing power.

Brokerage decision: Require updated payment estimates before writing offers. Show sellers how an allowable closing-cost credit or rate buydown compares with an equivalent price reduction, subject to lender approval.

4. Baltimore County adopted the rental measures under review

Confirmed: The County Council’s adopted-legislation list now includes:

• Bill 75-26—Rental Housing Licenses–Advertising
• Bill 74-26—Procedures for Tenant Notice When a Court Has Issued a Warrant of Restitution

Both were adopted following the September 22 legislative session. Baltimore County Council

Brokerage decision: Associated Real Estate should treat rental-license verification as a required pre-marketing step for Baltimore County rental listings. Property managers and landlord clients should also receive the final tenant-notice procedure and effective date before handling a repossession.

5. New statewide rental requirements begin October 1

Confirmed: Maryland laws taking effect October 1 establish several material requirements:

• Housing providers managing five or more units who use criminal-background checks generally must make a conditional housing offer before conducting the check, subject to specified exceptions and reassessment procedures.
• Housing providers generally may not reject subsidy-assisted applicants based solely on income, credit score or certain adverse credit history.
• New leases must offer tenants the option to report positive rental-payment history.
• Certain rental buildings with at least 10 units must provide cooling capable of maintaining 80°F or below during the required season. dhcd.maryland.gov

Why it matters: These rules affect rental applications, screening language, lease packages and property-management procedures—not simply landlord operations after occupancy.

Brokerage action: Review rental advertisements, application forms, screening criteria and lease documents before October 1. Legal or property-management guidance may be appropriate for implementation.

Three practical talking points

1. For sellers: “More homes are entering the market while contracts remain below last year. Pricing and presentation must earn attention early.”
2. For buyers: “Rates have crossed 7%, so we should update your payment and qualification before deciding what price you can comfortably offer.”
3. For rental clients: “Baltimore County’s licensing and tenant-notice measures have been adopted, and additional Maryland screening and lease requirements begin October 1. Compliance documents should be reviewed immediately.”