February’s housing data continues January’s patterns of slower market pacing with limited supply–and highlight a new development: fewer homes are entering the market. You can view the infographic of the statewide housing data here.
If you want a refresher on how housing statistics such as median price, inventory, and days on market are calculated, visit our guide to Understanding Housing Stats.
Home sales declined slightly compared with last year, buyer demand remained active, and the number of homes entering the market dropped sharply. Together, these data points highlight a central challenge shaping Maryland’s housing market this year, with more buyers than available homes in many areas.
Across the state, 4,016 homes sold in February, about 5% fewer than the 4,233 homes sold in February 2025. Even with fewer completed sales, prices continued to rise. The average home price increased 3.3% to $489,994, while the median home price climbed 3.7% to $425,000.
Maryland Homebuyers Are Still Moving Forward
One sign that demand remains present is the number of homes going under contract. Pending sales increased 5.1% to 4,981 compared to 4,741 last year, indicating that many buyers are still moving forward with purchases even as the pace of completed sales slows.
This suggests that many buyers are continuing their home searches rather than stepping back. As a result, desirable homes may still attract strong interest when they become available.
Fewer Homes on the Market and Rising Prices
The most significant change in February was the decline in housing supply. Active inventory fell 19.2% compared with last year, dropping from 14,505 homes to 11,720. At the same time, new listings declined 34.2%, falling from 6,946 to 4,568 homes. With fewer homes entering the market, buyers have fewer options to choose from.
That imbalance between supply and demand continues to support prices, even when the pace of sales slows.
What It Means for Buyers
For buyers, this means the market may feel less rushed than in past years, but the overall number of homes available remains limited. When the number of homes for sale stays low, buyers often compete for the same listings, which can push prices higher. That means the right home may take time to find. Paying attention to how many homes are available in your target area, and how quickly they are selling, can help buyers recognize opportunities when they appear.
What It Means for Sellers
For sellers, February’s data shows the continued impact of limited inventory. With fewer homes entering the market, new listings may face less competition from other properties.
Well-prepared listings, homes that are priced based on recent local sales, and presented well in photos and showings, can still attract strong interest, particularly in areas where the number of available homes remains low. Sellers who understand current inventory levels and recent sales in their area are typically better positioned when deciding when to list and how to price their home.
Local Markets Tell the Full Story
Maryland’s housing market can vary widely from one county to another. Some communities continue to see strong competition among buyers, while others may offer more options depending on price range and housing type. Looking at county-level housing data can help show these differences, but understanding what the numbers mean for a specific neighborhood can still be challenging. A REALTOR® can help buyers and sellers interpret local trends and understand how current market conditions may affect their decisions.
