Home sales in Baltimore area rose 16% in April

May 06, 1992|By Ellen James Martin | Ellen James Martin,Staff Writer

The picture for home sales in the Baltimore area was mixed in April, according to statistics released by the Greater Baltimore Board of Realtors yesterday.

Compared with the same month last year, home sales rose 16 percent, but the number of pending sales declined 8 percent, the trade group reported.

The same trends were evident when April statistics were compared with those of March this year.

The board's executive vice president, Fletcher Hall, discounted the importance of the drop in pending sales in April.

"I think it's just a reflection of the market settling down to a more normal pattern after being at a fairly high level of activity in January and February," said Mr. Hall. He added that he believes "the market is still in a sustained upward pattern."

William M. Hesson Jr., president of the Realtors board, agreed that "the market is still very busy and continues to reflect brisk activity." He said that "pent-up demand for housing really hit the market in January and February."

The total number of residential sales -- including new and JTC existing homes -- increased to 1,654 in April from 1,420 during the same month in 1991.

The number of residences pending for sale decreased to 1,648 in April, from 1,805 units last year.

Baltimore County, where sales increased 25 percent in April, was especially strong, the board said.

The total value of home sales in the Baltimore region in April reached $207.1 million. That was 17 percent higher than in the same month last year.

The figures are for sales reported to the Central Maryland Multiple Listing Service, a subsidiary of the Realtors board.

The numbers reflect sales in Baltimore and in Carroll, Harford, Howard and Baltimore counties.

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