Maryland’s housing market hit a late-summer slowdown in August, interrupting signs of a rebound just as the number of homes coming onto the market dropped sharply and buyers found themselves with fewer choices than they had a year ago.
According to the latest data from the Maryland Association of REALTORS, Home sales fell 8.5% from August 2025, while pending sales declined for the first time in more than a year. Yet prices continued to climb, with the median sales price reaching $445,000, up 2.3% from $435,000 a year earlier.
“Historically, we’ve found comfort in pending sales closely because they have continued to show us that buyers are out there,” said Denise Lewis, 2026 president of Maryland REALTORS. “August reminds [us] that we can’t take that demand for granted. Buyers need homes to choose from, and Maryland simply isn’t seeing enough properties come onto the market.”
Researchers said the August numbers put Maryland in a difficult position for prospective buyers. Sales are slowing, but the slowdown has not produced the increase in available homes that might ordinarily give buyers more bargaining power. Instead, the state entered the end of summer with fewer sales, fewer listings, less inventory and higher prices.
A total of 5,582 homes sold during August, compared with 6,103 a year earlier. The average sales price rose 2.5%, from $517,355 to $530,442, according to the Maryland REALTORS® report.
The retreat came after two months in which Maryland appeared to be regaining some momentum. Sales increased 2.3% from a year earlier in June, the first annual increase since January 2025, and were nearly even with the previous year in July, slipping just 0.1%.
Pending sales, which show homes under contract before transactions close, fell 1% to 5,786 from 5,846 in August 2025. That ended 12 consecutive months of year-over-year increases in pending sales.
But perhaps the most consequential number for buyers was 6,249, the number of new listings entering Maryland’s market during August, down from 8,177 a year ago, a 23.6% decline. Active inventory dropped to 16,897 homes from 19,576, leaving 13.7% fewer properties on the market. An infographic from The Maryland REALTORS also shows the state with three months of inventory, down from 3.5 months a year ago.
Homes that did sell didn’t linger much longer, either. The median time on the market was 17 days, compared with 16 days last August.
The statewide figures also mask considerable differences across the region.
Montgomery County recorded 779 sales in August, down 11.3% from 878 a year earlier, while its median sales price climbed 3.8% to $640,000. Active inventory fell from 2,375 homes to 2,032.
Prince George’s County recorded 601 sales, a 9.4% decline from 663 in August 2025. Its median price slipped 1.1%, from $450,000 to $445,000, while active inventory declined from 2,548 homes to 2,144.
[ Richard is it possible to add a quote here from a Prince George’s resident/realtor (even better) about homebuying and in PG and why it might be declining? ]
Howard County moved in the opposite direction on sales, recording 330 transactions, up 7.8% from 306 a year ago. Its median sales price, however, edged down 0.8% to $640,000.
Anne Arundel County saw 615 homes sold, down 12.1% from 700, while the median price increased 1.3% to $507,000. Charles County sales dipped 1.9% to 208, and its median price fell 3.3% to $435,000.
Buyers in some jurisdictions face higher prices even as sales decline, while others see modest price reductions. Across much of the region, however, fewer homes are available than a year ago.
Maryland also moved differently in August from the larger U.S. housing market. Realtor.com reported national active inventory increased 3.6% from a year earlier, while new listings were essentially flat, declining 0.1%. Pending listings nationally slipped 0.2% after eight consecutive months of annual growth.
Maryland, by comparison, had 13.7% fewer active homes and nearly one-quarter fewer new listings than a year earlier.
The state’s August report cautions that it revises its figures regularly and says the current report contains the latest reliable data.
“Maryland continues to move differently from much of the national housing market,” Lewis said. “Other parts of the country are rebuilding inventory. We’re still trying to get enough homes onto the market. That limits choices for buyers, puts continued pressure on prices, and ultimately limits the number of transactions that can take place.”
