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A Maryland property tax bill is the state's assessment of the home multiplied by the combined state, county and, inside a town, municipal rate. For the 2026-27 tax year, the combined rate in the jurisdictions below runs from about $0.78 per $100 of assessed value in Montgomery County to $2.36 per $100 in Baltimore City. That spread is why two homes at the same price can carry very different monthly payments. When the tax is escrowed into the mortgage, it changes how much house a budget can carry. This guide lays out the 2026-27 rates, shows how the bill is built, and walks through the two credits a buyer should know about before closing. Key Takeaways Your bill equals the assessment times the state, county and any municipal rate (Maryland SDAT). For 2026-27, the state rate is $0.1120 per $100 everywhere, and county rates vary widely. The assessment is the state's estimate of market value, not your purchase price. A seller's homestead credit doesn't carry over to you after a sale (Md. Code, Tax-Property §9-105). How is a Maryland property tax bill calculated? Your annual bill is the assessment multiplied by the tax rate of each jurisdiction that taxes the home: the state, the county or Baltimore City, and a municipality if the home is inside one (Maryland SDAT, Homeowner's Guide). Each government sets its own rate. The state Department of Assessments and Taxation (SDAT) sets the assessment. Rates are quoted per $100 of assessed value. SDAT's own worked example uses a rate of "$1.022 per $100 of assessed value" (Maryland SDAT, Questions and Answers About Real Property Assessments). So the formula for a quick estimate is simple: Annual tax = (assessed value ÷ 100) × combined rate Timing matters too. Maryland's 23 counties and Baltimore City, along with the state's 155 incorporated municipalities, issue bills each July or August, and those bills cover the upcoming fiscal year, effective July 1 (Maryland SDAT, Homeowner's Guide). A buyer who closes in October is stepping into a tax year that started in July. Prorations at settlement divide that year's tax between buyer and seller, and our Maryland seller net sheet guide shows how that credit is worked out. This annual bill is separate from the one-time transfer and recordation taxes paid at closing. Those are covered in our Maryland transfer tax guide. What are the 2026-27 property tax rates by county? For bills effective July 1, 2026, the state rate is $0.1120 per $100 in every jurisdiction, and the local rate does most of the work (Maryland SDAT, 2026-2027 Tax Rates & Homestead Credit Caps). The table below adds the state rate to each county or city rate. The homestead cap column is the local limit on yearly increases in taxable assessment, explained further down. Jurisdiction Local rate per $100 State rate per $100 Combined per $100 Local homestead cap Anne Arundel County $0.9680 $0.1120 $1.0800 2% City of Annapolis* $1.3150 $0.1120 $1.4270 10% (city) Baltimore City $2.2480 $0.1120 $2.3600 4% Baltimore County $1.1000 $0.1120 $1.2120 4% Howard County $1.0440 $0.1120 $1.1560 5% Harford County $0.9779 $0.1120 $1.0899 5% Carroll County $1.0180 $0.1120 $1.1300 5% Frederick County $1.1100 $0.1120 $1.2220 5% Montgomery County $0.6706 $0.1120 $0.7826 10% Prince George's County $1.0000 $0.1120 $1.1120 3% Source: Maryland SDAT, 2026-2027 Tax Rates & Homestead Credit Caps (July 2026). Combined column is the sum of the published rates. *Annapolis local rate = city $0.7380 + county portion $0.5770. SDAT's full table lists every county and incorporated town. Three cautions before you plug these in. First, a home inside an incorporated town or city adds that municipality's rate and can use a different county portion, as Annapolis does. Check the town's own row rather than the county row. Second, this table shows only the county and state rates SDAT publishes; a bill can also carry other local charges, so confirm the full amount with the county. Third, SDAT publishes the table as a courtesy and asks readers to contact the local government to verify any figure before relying on it (Maryland SDAT, 2026-2027 Tax Rates & Homestead Credit Caps). If you're comparing areas, our Towson guide, Timonium and Lutherville guide and Catonsville guide cover what else separates parts of Baltimore County. What would the bill be on a $400,000 assessment? On an assessment of $400,000, the 2026-27 combined rates produce annual bills from about $3,130 in Montgomery County to $9,440 in Baltimore City. These are illustrations built from SDAT's published rates, not quotes for any real home. Jurisdiction Combined rate per $100 Illustrative annual tax on a $400,000 assessment Montgomery County $0.7826 $3,130 Anne Arundel County $1.0800 $4,320 Howard County $1.1560 $4,624 Baltimore County $1.2120 $4,848 City of Annapolis $1.4270 $5,708 Baltimore City $2.3600 $9,440 Math: ($400,000 ÷ 100) × combined rate. Assumes no credits. Rounded to the dollar. Spread over twelve escrow payments, the gap between the first and last rows is more than $500 a month. That's real money in a mortgage qualification. Ask your lender to run the payment with the actual tax figure for the specific address, not a statewide average. Why isn't your purchase price the number on the bill? The bill uses SDAT's assessment, which is the state's "estimate of the current market value of your property," not the price you paid (Maryland SDAT, Questions and Answers About Real Property Assessments). The two can differ in either direction, especially in a market that has moved since the last reassessment. Maryland reassesses each property once every three years. Owners hear about a change in late December, and roughly a third of accounts are reassessed each year (Maryland SDAT, Homeowner's Guide). When an assessment rises, the increase is phased in equally over three years, so the full jump isn't taxed in a single year (Maryland SDAT, Questions and Answers). For a buyer, that means two things. The current assessment on a home you're considering may be lower than your offer price, and it may be partway through a phase-in. Look it up before you budget. SDAT's Real Property Data Search lets anyone pull a property's record by choosing the county and searching by street address, account number, map and parcel, or recent sales. How does the Homestead Tax Credit limit increases? The Homestead Property Tax Credit limits how much a principal residence's taxable assessment can rise each year, and every county and municipality must set that limit at 10 percent or less (Maryland SDAT, Tax Credit Programs). The local caps for 2026-27 are in the rate table above: 2 percent in Anne Arundel County, 3 percent in Prince George's, 4 percent in Baltimore City and Baltimore County, 5 percent in Howard, Harford, Carroll and Frederick, and 10 percent in Montgomery and for the City of Annapolis's own portion. If you're looking in Howard County, our Howard County neighborhood guide covers the area. The state's own cap is 10 percent (Maryland SDAT, 2026-2027 Tax Rates & Homestead Credit Caps). It's a cap on the taxable assessment, not on the bill. SDAT's example: with a 4 percent cap, the local bill rises no more than 4 percent over the prior year only if the county keeps the same tax rate (Maryland SDAT, Questions and Answers). Why buyers shouldn't budget from the seller's bill This rule matters at closing. Under Maryland law, the credit isn't granted for a taxable year if, during the previous taxable year, the home "was transferred for consideration to new ownership" (Md. Code, Tax-Property §9-105). In plain terms, a long-time owner's capped assessment doesn't pass to you. If the seller's taxable assessment sits well below the full assessment, your bill can be higher than theirs. So don't budget from the seller's last bill. Ask your agent or title company to show the tax figure without the seller's credit, then plan your escrow around that number. Once you own the home as your principal residence, you can apply for the credit yourself. SDAT mails new purchasers a homestead application once the new deed is recorded (Maryland SDAT, Homestead Tax Credit FAQ). Watch for it and send it back. Could you qualify for the Homeowners' Property Tax Credit? The Homeowners' Property Tax Credit lowers the bill when property taxes exceed a fixed percentage of the owner's gross income (Maryland SDAT, Tax Credit Programs). To be eligible, according to SDAT's program page: The home must be your principal residence, where you live at least six months of the year including July 1, unless you're a recent home purchaser. Your net worth, not counting the home and qualified retirement savings, must be under $200,000. Combined gross household income can't exceed $60,000. The credit isn't automatic. The application deadline is October 1 each year, and SDAT notes that applying by April 15 lets any credit come off the initial July bill. Qualified buyers can also apply before they own the home: SDAT asks for the application at least 30 days before the expected settlement date so any credit due can be applied at settlement (Maryland SDAT, Homeowners' Property Tax Credit Program). If your situation is close to the limits, a tax professional can confirm whether you qualify. When are Maryland property taxes due? Under Maryland's semiannual payment schedule, the first installment is due July 1 and can be paid without interest through September 30, and the second is due December 1 and can be paid without interest, apart from a service charge, through December 31 (Md. Code, Tax-Property §10-204.3). If your lender escrows taxes, you won't write those checks directly. When taxes are paid through an escrow account, the law has the servicer pay in semiannual installments unless the owner or borrower directs annual payment in writing (same statute). Your lender collects a monthly slice in escrow and pays the county on that schedule. That's also why the tax figure matters when you budget. The escrowed tax becomes part of your monthly payment. Our buyer financing overview walks through the rest of that payment. How to estimate the tax on a home you're considering You can estimate the tax in five steps, using only public records. Find the property record. Open SDAT's Real Property Data Search, choose the county and search by address. Note the assessment and any phase-in. Use the assessment SDAT shows for the current year, and check whether a reassessment is still phasing in. Pick the right row. Use the county row, or the town's row if the home is inside an incorporated municipality such as Annapolis. Do the math. Divide the assessment by 100 and multiply by the combined rate. Assume no homestead credit for now. Under §9-105 the seller's credit doesn't carry over, so budget without it until you've applied for your own. Then verify. SDAT itself recommends confirming any rate with the local government before relying on it, and your county or city finance office can confirm the final figure. Talk through the numbers before you write an offer A property tax estimate is one of the easiest numbers to get wrong and one of the easiest to check. If you're weighing homes in different counties or towns, contact Next Step Realty to talk through the homes on your list. Frequently Asked Questions What is the property tax rate in Anne Arundel County for 2026-27? For the 2026-27 tax year, Anne Arundel County's rate is $0.9680 per $100 of assessed value, plus the state rate of $0.1120, for a combined $1.0800 per $100 outside incorporated towns. Homes inside the City of Annapolis pay a different combination: $0.7380 city, $0.5770 county and $0.1120 state, or $1.4270 per $100. How often does Maryland reassess property? Maryland reassesses each property once every three years, and owners are notified of any change in late December. About a third of accounts are reassessed each year. When an assessment rises, the increase is phased in equally over three years, so the full increase isn't taxed in a single year. Does the homestead tax credit transfer to a new owner in Maryland? No. Under Maryland Tax-Property §9-105, the homestead credit isn't granted for a taxable year if the home was transferred for consideration (sold) to new ownership during the previous taxable year. A new owner who lives in the home as a principal residence can apply for the credit, and SDAT mails new purchasers an application once the deed is recorded. When are property taxes due in Maryland? Under Maryland's semiannual schedule, the first half is due July 1 and can be paid without interest through September 30. The second half is due December 1 and can be paid without interest, apart from a service charge, through December 31. If you have a mortgage escrow account, the servicer usually pays these installments for you. Is Baltimore City's property tax rate higher than Baltimore County's? Yes. For 2026-27, Baltimore City's rate is $2.2480 per $100 and Baltimore County's is $1.1000 per $100, each plus the state's $0.1120. On a $400,000 assessment, that works out to about $9,440 a year in the city and $4,848 in the county, before any credits. Sources Maryland State Department of Assessments and Taxation, 2026-2027 Tax Rates & Homestead Credit Caps (July 2026), retrieved 2026-10-05, https://dat.maryland.gov/SiteAssets/Pages/Tax-Rates/Tax%20Rates%202026-2027%20-%20Tax%20Table%20%26%20Homestead%20Credit%20Caps_July%202026_0926-A.pdf Maryland State Department of Assessments and Taxation, Homeowner's Guide, retrieved 2026-10-05, https://dat.maryland.gov/realproperty/Pages/HomeOwners-Guide.aspx Maryland State Department of Assessments and Taxation, Questions and Answers About Real Property Assessments, retrieved 2026-10-05, https://dat.maryland.gov/realproperty/Pages/Questions-and-Answers-About-Real-Property-Assessments.aspx Maryland State Department of Assessments and Taxation, Tax Credit Programs, retrieved 2026-10-05, https://dat.maryland.gov/Pages/Tax-Credit-Programs.aspx Maryland State Department of Assessments and Taxation, Homestead Tax Credit FAQ, retrieved 2026-10-05, https://dat.maryland.gov/realproperty/Pages/FAQ-Homestead-Tax-Credit.aspx Maryland State Department of Assessments and Taxation, Homeowners' Property Tax Credit Program, retrieved 2026-10-05, https://dat.maryland.gov/realproperty/Pages/Homeowners'-Property-Tax-Credit-Program.aspx Maryland State Department of Assessments and Taxation, Real Property Data Search, retrieved 2026-10-05, https://sdat.dat.maryland.gov/RealProperty/Pages/default.aspx Maryland Code, Tax-Property §9-105 (Homestead property tax credit), retrieved 2026-10-05, https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gtp&section=9-105 Maryland Code, Tax-Property §10-204.3 (Semiannual payment schedule), retrieved 2026-10-05, https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gtp&section=10-204.3 Rates and rules cited here were retrieved on October 5, 2026 and apply to the 2026-27 tax year. 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See how your bill is built.", "datePublished": "2026-10-16T09:00:00-04:00", "dateModified": "2026-10-16T09:00:00-04:00", "author": {"@type": "Person", "name": null}, "publisher": {"@type": "Organization", "name": "Next Step Realty"}, "mainEntityOfPage": {"@type": "WebPage", "@id": "https://nextsteprealtymd.com/maryland-property-tax-by-county-2026/"}, "url": "https://nextsteprealtymd.com/maryland-property-tax-by-county-2026/", "image": "https://cdn.agentimagehosting.com/oSQtNyXXqmJyRHMnbtuIj/2026/10/06035350/cover-maryland-property-tax-by-county-2026.jpg"}

Whether Maryland is a buyer's market or a seller's market shows up in a handful of published numbers: months of supply, days on market, pending sales, new listings and price cuts. Read them against the same month a year earlier, county by county, and the balance becomes clear. In August 2026, Maryland had 3.0 months of inventory, down from 3.5 a year earlier, according to Maryland REALTORS, while NAR's national figure was 4.9 months (National Association of REALTORS). The two are calculated differently, as explained below, so treat the state-versus-nation gap as a rough guide. No single number settles it, and the answer can differ a few miles apart. This guide explains what each signal measures, where Maryland publishes it, and how to read it, using the August 2026 releases, the newest available when this was written, as a worked example. For the latest read, see our Fall 2026 Maryland housing market update. Key Takeaways Months of supply measures how long current listings would take to sell at the recent sales pace; a rising number means more choice for buyers. Maryland REALTORS reported 3.0 months of inventory statewide in August 2026; NAR's national figure, calculated differently, was 4.9 months. Compare each figure with the same month a year earlier, since NAR says month-to-month median price comparisons don't account for seasonality. Counties diverge: Howard County had 1.6 months of inventory in August 2026 and Baltimore City 4.7, in the Maryland REALTORS table. What makes it a buyer's market or a seller's market? A market tilts toward buyers when homes outnumber the buyers ready to make offers, and toward sellers when buyers outnumber homes. NAR puts it in one measure: months' supply, "the number of months it would take to exhaust the total inventory at the current sales pace" (NAR, August 2026 existing-home sales). When that number climbs, buyers get more choice and more room to negotiate. In NAR's August 2026 report, its chief economist said the national supply of 4.9 months, its highest level in over ten years, was "giving homebuyers better opportunities to negotiate." When it falls, competition for each listing tightens. You'll see rules of thumb that put an exact number on where buyer's territory begins. None of the publishers below states one, so this guide sticks to direction: is supply rising or falling, and how does your county compare with the state and the nation? Which five numbers should you watch? Five published signals cover most of the picture. Each one comes from a source you can check yourself. Months of supply or inventory. How long the current listings would last at the recent sales pace. Higher means more choice for buyers. Days on market or days to contract. How long homes take to sell. Rising times suggest buyers are slowing down. Pending sales. Homes under contract that haven't closed yet. They show what buyers are doing now, before closings catch up. New listings versus active listings. New listings show sellers entering; active listings show what's piling up unsold. Price decreases. The share of active listings that cut their price. More cuts suggest sellers are meeting buyers where they are. Median price is useful too, but read it carefully. NAR notes that "the only valid comparisons for median prices are with the same period a year earlier due to seasonality in buying patterns" (NAR). So compare August with last August, not with July. Where does Maryland publish these numbers? Three publishers cover Maryland, and each counts a little differently. Maryland REALTORS publishes monthly statewide and county tables using Bright MLS data (Maryland REALTORS, Housing Statistics). In its tables, "Units" are sales settled that month, "Pending Units" are homes under contract that will settle later, and "Active Inventory" is homes still on the market. Its Months of Inventory uses current active inventory against the average of the current month and the previous 11 months of sales, a 12-month sales average (Maryland REALTORS, August 2026 Housing Statistics). It also estimates each county's median price itself, because Bright doesn't provide that level of detail. Bright MLS publishes a monthly housing market report and county-level metro reports (Bright MLS, August 2026 Housing Market Report), plus a weekly snapshot. The weekly report defines Median Days to Contract as the median days from a listing's MLS publication to going under contract, and tracks the share of active listings with a price decrease during the week (Bright MLS, weekly market report). NAR publishes national existing-home sales each month, the benchmark for comparing Maryland with the country. One caution: these figures get revised. Maryland REALTORS notes that its data are "revised on a regular basis" and older reports aren't adjusted (August 2026 Housing Statistics). Compare figures within the same report, not across old editions. If you want to know where listing data comes from in the first place, our guide to Bright MLS, Zillow and Realtor.com explains it. What did August 2026 look like in Maryland? In August 2026, the Maryland REALTORS figures showed a market tighter than a year earlier, with less supply than NAR's national figure, while Bright MLS's Baltimore metro figures showed supply rising (below). This is the Maryland REALTORS table for the state and four Baltimore-area jurisdictions, August 2026 versus August 2025 (Maryland REALTORS, August 2026 Housing Statistics): Area Months of inventory Median days on market Median sales price Units sold Maryland 3.0 (3.5 in Aug 2025) 17 (16) $445,000 (+2.3%) 5,582 (-8.5%) Howard County 1.6 (2.7) 9 (10) $640,000 (-0.8%) 330 (+7.8%) Anne Arundel County 2.2 (2.5) 11 (13) $507,000 (+1.3%) 615 (-12.1%) Baltimore County 2.3 (2.7) 14 (13) $390,000 (+6.8%) 687 (-10.5%) Baltimore City 4.7 (5.0) 24 (21) $225,000 (-8.2%) 530 (-19.9%) Howard County had the lowest months of inventory of any Maryland jurisdiction in the full Maryland REALTORS table, and Baltimore City had the highest of these five at 4.7 months. Statewide, the same table shows new listings falling to 6,249 from 8,177 a year earlier, so fewer sellers were coming to market. Bright MLS tells a different inventory story Bright MLS's own Baltimore metro report for the same month shows active listings up 14.7% from a year earlier, with months of supply at 2.72 versus 2.35 (Bright MLS, Baltimore Metro report, August 2026). By county, it put Howard at 1.66 months, Anne Arundel at 2.14, Baltimore County at 2.28 and Baltimore City at 4.69. In Anne Arundel County, Baltimore County and Baltimore City, that's the opposite direction from the Maryland REALTORS table, which shows active inventory down from a year earlier; Howard County fell in both. The two publishers' August levels sit close together (Anne Arundel's active inventory, for example, was 1,344 in the Maryland REALTORS table and 1,320 in Bright's report). They part ways on the year-ago figure, so compare each publisher with its own year-ago number. Bright explained its numbers this way. New listings fell because "most home sellers are also home buyers," yet active listings rose "as a result of fewer buyers making offers and homes remaining on the market longer" (Bright MLS, Baltimore Metro report). Across its whole service area, Bright said inventory grew because of fewer buyers making offers, "rather than more sellers listing their homes for sale" (Bright MLS, August 2026 report). The weekly view Weekly data moves sooner. For the week ending October 4, 2026, Bright's Baltimore metro snapshot showed 574 new purchase contracts, down 16.7% from a year earlier, and a median time to contract of 36 days, up 5 days. Active listings were up 19.7%, and 11.4% of active listings had a price decrease that week, down 0.1 percentage point from a year earlier (Bright MLS, weekly market report). How do mortgage rates fit in? Rates shape how many buyers can act. For the week of October 1, 2026, Freddie Mac's survey put the 30-year fixed rate at 7.28%, up from 6.34% a year earlier (Freddie Mac, Primary Mortgage Market Survey). Read rates alongside the supply numbers: Bright's August reports tied rising inventory to fewer buyers making offers, not to more sellers listing. How do official analysts describe a market? Federal housing analysts don't reduce a market to one label either. HUD's analysts described the Baltimore-area sales market as "tight but easing" as of September 1, 2023, citing 1.5 months of for-sale inventory and an estimated sales vacancy rate (HUD, Baltimore-Columbia-Towson Housing Market Profile). Earlier that year, HUD called the metro "tight but easing" while describing the Baltimore City submarket as "slightly soft," with a 2.0-month supply (HUD, Comprehensive Housing Market Analysis). Those are dated examples, not current readings. The lesson still holds: the city and the suburbs can read differently in the same month. What should buyers and sellers do with these numbers? Use them to set expectations, then check the specific neighborhood. If you're buying: rising months of supply, longer days to contract and more price cuts mean more room to negotiate on price and terms. In Maryland, who pays the transfer and recordation taxes is usually negotiable: the law presumes buyer and seller split them equally unless the contract says otherwise. One exception: when the buyer is a first-time Maryland home buyer who will live in the home, the law puts the state transfer tax on the seller outright. The seller also pays the recordation and local transfer tax, unless the contract expressly says otherwise (Md. Code, Real Property §14-104). Our Maryland transfer tax guide shows the math. Our buyer resources cover the steps. If you're selling: lower supply and fast days on market support firmer pricing, but watch the direction of change, not just the level. Our Maryland pricing guide and seller resources show how to set a price that fits the data. For a past snapshot to compare against, see our Summer 2026 market update. Either way: county figures can hide big differences between ZIP codes and neighborhoods, and the monthly reports cited here stop at the county level. Ask an agent to pull the MLS numbers for the ZIP code you're watching. To talk through what the data means for a specific move, contact Next Step Realty. Frequently Asked Questions Is Maryland a buyer's or seller's market right now? It depends on the county and the month. In August 2026, Maryland REALTORS reported 3.0 months of inventory statewide, down from 3.5 a year earlier, while the national figure was 4.9 months. Howard County was the tightest at 1.6 months; Baltimore City had 4.7. Check the latest monthly release for your county. What does months of supply mean in real estate? It's how long the current inventory would take to sell at the recent sales pace. NAR describes it as the months needed "to exhaust the total inventory at the current sales pace." Maryland REALTORS calculates it from active inventory and a 12-month average of sales. A rising figure means more choice for buyers. Where can I find Maryland housing market data? Maryland REALTORS publishes monthly statewide and county tables from Bright MLS data. Bright MLS publishes monthly market reports, county-level metro reports and a weekly snapshot. NAR publishes national existing-home sales each month. These reports stop at the county level; for a ZIP code or neighborhood, an agent can pull the MLS numbers. Can I compare inventory figures from different reports? Not reliably. In August 2026, Maryland REALTORS showed Anne Arundel County's active inventory below the year before, while Bright MLS's Baltimore metro report showed it up 18.4%. Compare each publisher's figure with its own year-ago number rather than mixing publishers in a year-over-year comparison. Sources Maryland REALTORS, Housing Statistics, retrieved 2026-10-05, https://www.mdrealtor.org/HousingStats Maryland REALTORS, August 2026 Housing Statistics (current as of September 4, 2026), retrieved 2026-10-05, https://www.mdrealtor.org/Portals/22/adam/Page%20Elements/6PbyCYFmAUuCknSNNK36Ag/August/August%202026%20Housing%20Stats.pdf Bright MLS, August 2026 Housing Market Report (released September 10, 2026), retrieved 2026-10-05, https://www.brightmls.com/press-release/bright-mls-august-2026-housing-market-report Bright MLS, Baltimore Metro Housing Market Report, August 2026, retrieved 2026-10-05, https://image.m.brightmls.com/lib/fe2b11747364047b741278/m/1/c78e4997-e0bf-4d63-896e-09cb2d6419f1.pdf Bright MLS, Weekly Market Report, week ending October 4, 2026, retrieved 2026-10-05, https://image.m.brightmls.com/lib/fe2b11747364047b741278/m/1/92163607-cb80-49fc-8ab6-c04414b88f7a.pdf National Association of REALTORS, Existing-Home Sales, August 2026, retrieved 2026-10-05, https://www.nar.realtor/newsroom/nar-existing-home-sales-report-shows-2-0-decrease-in-august Freddie Mac, Primary Mortgage Market Survey, week of October 1, 2026, retrieved 2026-10-05, https://www.freddiemac.com/pmms U.S. Department of Housing and Urban Development, Baltimore-Columbia-Towson Housing Market Profile (2023), retrieved 2026-10-05, https://www.huduser.gov/portal/sites/default/files/periodicals/USHMC/reg/BaltimoreColumbiaTowsonMD-HMP-23.pdf U.S. Department of Housing and Urban Development, Baltimore-Columbia-Towson Comprehensive Housing Market Analysis (2023), retrieved 2026-10-05, https://www.huduser.gov/portal/sites/default/files/publications/pdf/BaltimoreColumbiaTowsonMD-CHMA-23.pdf Maryland Code, Real Property §14-104, retrieved 2026-10-05, https://mgaleg.maryland.gov/2026RS/Statute_Web/grp/14-104.pdf Market figures cited here are the editions available on October 5, 2026; newer monthly releases may be out by the time you read this. 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Maryland's housing market cooled over the summer. In the Baltimore metro area, the median sold price reached $425,000 in August 2026, up 2.4% from a year earlier, while active listings rose 14.7% and showings fell 6.0% (Bright MLS, August 2026 Housing Market Report, published September 10, 2026). August is the most recent month Bright MLS has published. Key Takeaways The Baltimore metro median sold price was $425,000 in August 2026, up 2.4% year over year, with median days on market at 15 (Bright MLS, August 2026 report). Active listings across the Baltimore metro rose 14.7% year over year even though new listings fell 8.5%. Buyers pulled back; sellers did not pile in. The 30-year fixed mortgage averaged 6.76% on September 10, 2026, up from 6.35% a year earlier (Freddie Mac). County-level detail lags by a month. Through July 2026, Howard County's median was $674,900 and Anne Arundel's was $553,500 (Maryland REALTORS®). What is the Maryland housing market doing in fall 2026? It's slowing. In August 2026, there were 19,191 closed sales across the Bright MLS service area, a 3.6% drop from a year earlier, and new pending sales fell 5.8% (Bright MLS, August 2026 Housing Market Report, September 10, 2026). Prices are still rising, just more slowly than they did in spring. The turn showed up quickly. Bright MLS reported 21,407 closed sales in July 2026, running 4.0% above the prior year. One month later the same series had flipped to 3.6% below. Neither report says as much on its own, but read back to back they put the seasonal turn inside a four-week window. Bright MLS Chief Economist Lisa Sturtevant attributed the slowdown to cost pressure. "Mortgage rates have remained persistently high this summer," she said in the August report. "With home prices still rising in most markets, some homebuyers are simply hitting an affordability ceiling. Others are waiting for more certainty in both the economy and the housing market." Baltimore Metro: Year-Over-Year Change, August 2026 Active listings +14.7% Median sold price +2.4% New pending sales -4.9% Showings -6.0% New listings -8.5% 0% Source: Bright MLS, August 2026 Housing Market Report (published September 10, 2026). Median days on market in the Baltimore metro was 15 in August 2026, one day slower than a year earlier. That is still quick by national standards, which is worth remembering when national coverage sounds gloomier than what you see here. Our summer 2026 Maryland market update covered the June data, when the story was tightening supply rather than building inventory. How much are homes selling for in Baltimore, Anne Arundel and Howard counties? County-level figures run one month behind the metro numbers. The most recent county data comes from Maryland REALTORS®, Housing Statistics, July 2026, which draws on Bright MLS data and was current as of August 6, 2026. Statewide, the July median sale price was $455,000, up 2.2% year over year, on 6,328 units sold. Here is how the local jurisdictions looked in July 2026, the newest month published at county level: Jurisdiction Median sale price (July 2026) Change vs. July 2025 Units sold Median days on market Howard County $674,900 +6.3% 369 7 Anne Arundel County $553,500 +9.6% 750 11 Maryland (statewide) $455,000 +2.2% 6,328 14 Baltimore County $385,000 +1.3% 790 10 Baltimore City $250,000 0.0% 606 22 Source: Maryland REALTORS®, Housing Statistics, July 2026 (data from Bright MLS; current as of August 6, 2026). Median Sale Price by Jurisdiction, July 2026 Howard Co. $674,900 Anne Arundel Co. $553,500 Maryland $455,000 Baltimore Co. $385,000 Baltimore City $250,000 Source: Maryland REALTORS®, Housing Statistics, July 2026 (data from Bright MLS). Price movement varied a lot by jurisdiction. Anne Arundel posted the largest year-over-year gain in the group at 9.6%, while Baltimore City's median was unchanged from July 2025. Gaps that wide between neighboring jurisdictions usually reflect what kind of housing stock each one has and how much of it is on the market at the time. For neighborhood-level detail, we keep guides to Annapolis, Towson, Severna Park, Catonsville and Ellicott City and Columbia updated separately. Why is inventory rising while new listings fall? Because buyers slowed down, not because sellers sped up. Across the Bright MLS service area, active listings at the end of August 2026 were up 12.6% year over year while new listings were 1.7% lower. Bright MLS put it plainly in its August 2026 report: "Inventory is growing as a result of fewer buyers making offers, rather than more sellers listing their homes for sale." The Baltimore metro shows the same pattern more sharply. New listings there fell 8.5% year over year in August 2026, yet active listings still finished the month 14.7% higher. The growth in supply is coming from homes that were already listed and have not sold. That distinction matters if you're deciding whether to list this fall. A wave of new sellers would mean competing against fresh, well-prepared homes. What's actually out there is a backlog of listings that have been sitting, and a well-priced home stands out against those. The most recent weekly reading points the same direction. For the week ending September 6, 2026, Bright MLS counted 6,179 new listings across its service area, down 2.1% from the same week in 2025, against 50,335 active listings, up 12.2% year over year (Bright MLS, Bright Research Weekly Statistics). New purchase contracts that week came in at 4,563, within 0.2% of last year's level, and the median time to contract was 30 days. How tight is supply across the region? Through July 2026, most of the region still had well under three months of inventory. Maryland statewide sat at 3.0 months, down from 3.4 months in July 2025, while Howard County was the tightest jurisdiction in the region at 1.8 months (Maryland REALTORS®, Housing Statistics, July 2026). Maryland REALTORS® defines the figure in its own footnote: months of inventory is "based on current active inventory and the average of the current month and previous 11 months of sales." In plain terms, it estimates how long the homes currently for sale would last at the recent pace of selling. Months of Inventory, July 2026 Howard Co. 1.8 Anne Arundel Co. 2.1 Baltimore Co. 2.2 Maryland 3.0 Baltimore City 4.8 Source: Maryland REALTORS®, Housing Statistics, July 2026 (data from Bright MLS). The two datasets appear to contradict each other, and the mismatch is mostly definitional. The July county figures showed active inventory down year over year in Anne Arundel, Howard, Baltimore County and Baltimore City, while the Bright MLS metro figure for August showed active listings up 14.7%. They cover different months and draw their boundaries differently, so neither one cancels the other. August is the newer reading, and the one to watch as fall data lands. What are Maryland mortgage rates right now? Higher than a year ago. The 30-year fixed-rate mortgage averaged 6.76% on September 10, 2026, up from 6.71% the week before and 6.35% a year earlier, according to Freddie Mac's Primary Mortgage Market Survey. The 15-year fixed averaged 6.09%, up from 6.04% a week earlier and 5.50% a year before. Both terms rose week over week, and both sit above where they stood a year ago: the 30-year by 41 basis points, the 15-year by 59. So financing has gotten more expensive at the same time inventory has gotten easier, which is the tension buyers are working with this fall. Sam Khater, Freddie Mac's Chief Economist, offered a practical note alongside the September figures: "Aspiring buyers should remember shopping around for the best mortgage rate and getting multiple quotes can potentially save them thousands." Take that literally. Rate quotes vary between lenders on the same day for the same borrower, and over a 30-year term that gap is real money. If you're comparing loan types before you shop, our guide to FHA, conventional and VA loans in Maryland covers the tradeoffs, and the difference between pre-approval and pre-qualification matters more in a slower market. How does Maryland compare to the national market? Maryland is tighter and faster. Nationally, existing-home sales ran at a seasonally adjusted annual rate of 4.06 million in July 2026, down 1.7% from June, with a median existing-home price of $434,100, up 2.0% year over year (National Association of REALTORS®, released August 11, 2026). National inventory stood at 1.54 million units, a 4.6-month supply, and homes sat a median of 29 days. Set that against Maryland's July numbers from Maryland REALTORS®: 3.0 months of supply statewide and a median of 14 days on market. Maryland had roughly two-thirds the national months of supply, and its homes sat about half as long as the national median. Howard County's 7-day median was faster still. NAR Chief Economist Lawrence Yun described the national picture as steadier than the headlines suggested: "Home sales have been remarkably stable, even amid the rising mortgage rate environment of the past few months." Read national real estate coverage at a discount here this fall. A story built on a 4.6-month national supply figure is not describing the market Maryland buyers and sellers are standing in. What fall 2026 means if you're selling Price it against today's data, not spring's. The Baltimore metro median sold price still rose 2.4% year over year in August 2026, so values held, but showings fell 6.0% and pending sales fell 4.9% in the same month (Bright MLS, August 2026 report). Fewer people are walking through, which puts more weight on the asking price. Your first two weeks still carry a lot of the outcome. Median days on market in the Baltimore metro was 15 in August 2026, one day slower than a year earlier, so half the homes that sold went under contract inside roughly two weeks. With active listings up 14.7%, the ones that took longer were being weighed against a wider field than last year. That also raises the cost of getting the number wrong. In a market where inventory is accumulating, an overpriced home tends to sit and then become the listing that makes everything after it look reasonable. Our guide to how to sell your home in Maryland walks through the sequence, and what staging actually adds covers presentation without overspending. Work out your net before you list, too. The sale price isn't what you keep, and Maryland seller closing costs breaks down what comes out between contract and settlement. What fall 2026 means if you're buying You have more to choose from and more room to ask. Active listings in the Baltimore metro were 14.7% higher in August 2026 than a year earlier, and showings were down 6.0%, which means less competition per property (Bright MLS, August 2026 report). The offset is financing cost: at 6.76% on September 10, 2026, the 30-year fixed sits 41 basis points above its year-ago level (Freddie Mac). Those two forces pull against each other, and which one wins depends on your price point and how long you plan to stay. More inventory improves your negotiating position on price, repairs and timing. A higher rate raises the monthly cost of whatever you negotiate. Some of the groundwork is easier now than it will be in January. Settle the financing first, because a slower market rewards a clean, ready offer. It's also worth looking at homes that have been listed a while, since sellers still holding spring expectations are the ones most likely to move on terms. And check the assistance programs before you assume you don't qualify: household income limits for the Maryland Mortgage Program vary by county and household size, and other first-time buyer programs set their own eligibility rules. If you're starting from scratch, the Maryland home buying process walks through the order of operations. Frequently asked questions Is it a buyer's or seller's market in Maryland in fall 2026? It's shifting toward buyers but hasn't crossed over. Maryland statewide had 3.0 months of inventory in July 2026, down from 3.4 a year earlier (Maryland REALTORS®). Meanwhile Baltimore metro active listings rose 14.7% year over year in August 2026 while showings fell 6.0% (Bright MLS). Supply is still tight, but buyers have more room than they did. What is the median home price in the Baltimore area right now? The Baltimore metro median sold price was $425,000 in August 2026, up 2.4% from August 2025, according to the Bright MLS August 2026 Housing Market Report published September 10, 2026. At the county level, where data runs through July 2026, medians were $674,900 in Howard County, $553,500 in Anne Arundel County and $385,000 in Baltimore County. What is the current mortgage rate in Maryland? Freddie Mac's Primary Mortgage Market Survey put the 30-year fixed-rate mortgage at 6.76% on September 10, 2026, up from 6.71% a week earlier and 6.35% a year earlier. The 15-year fixed averaged 6.09%. Freddie Mac publishes a national average; the rate an individual borrower is quoted varies by lender, credit profile and loan type. How long are Maryland homes taking to sell? Median days on market in the Baltimore metro was 15 in August 2026, one day slower than August 2025 (Bright MLS). Statewide in July 2026 the median was 14 days, and Howard County's was 7 days (Maryland REALTORS®). All of those are well below the national median of 29 days reported by NAR for July 2026. Are home prices in Maryland going to fall this year? No source cited here forecasts a decline. Prices were still rising as of the most recent data, up 2.4% year over year in the Baltimore metro in August 2026. Bright MLS does expect the pace of growth to ease, describing its outlook for the region as "a relatively slow fall housing market, with prices growing more slowly, inventory rising, and homes staying on the market longer." The short version Maryland went into fall 2026 with prices still rising, inventory building and buyers moving carefully. The Baltimore metro median sold price was $425,000 in August 2026, up 2.4%, on 14.7% more active listings and 6.0% fewer showings. The 30-year fixed sat at 6.76% on September 10, 2026. County-level detail runs a month behind, and through July the region was still tight, with Howard County at 1.8 months of inventory and Anne Arundel at 2.1. For sellers, that still supports the price, as long as it's set against current numbers instead of spring's. For buyers it means a wider field than a year ago, with 14.7% more active listings to work through and fewer people competing for each one. If you're weighing a move in the Baltimore or Annapolis area, Next Step Realty has agents working across Anne Arundel, Howard and Baltimore counties from offices in Timonium and Annapolis. Call 443-901-2200 or get in touch here and we'll go through what the current numbers mean for your street and your timeline. Sources Bright MLS, "Bright MLS August 2026 Housing Market Report: Mid-Atlantic Housing Market Cools," published September 10, 2026, retrieved September 10, 2026. https://www.globenewswire.com/news-release/2026/09/10/3359681/0/en/bright-mls-august-2026-housing-market-report-mid-atlantic-housing-market-cools.html Bright MLS, "Bright MLS July 2026 Housing Market Report," published August 11, 2026, retrieved September 10, 2026. Cited for the July closed-sales figure of 21,407, up 4.0% year over year. Maryland REALTORS®, "Housing Statistics, July 2026" (data from Bright MLS; report current as of August 6, 2026), retrieved September 10, 2026. https://www.mdrealtor.org/HousingStats Bright MLS, Bright Research Weekly Statistics, week ending September 6, 2026, retrieved September 10, 2026. https://www.brightmls.com/weeklystats Freddie Mac, Primary Mortgage Market Survey, "Mortgage Rates Average 6.76%," published September 10, 2026, retrieved September 10, 2026. https://www.freddiemac.com/pmms National Association of REALTORS®, "NAR Existing-Home Sales Report Shows 1.7% Decrease in July," published August 11, 2026, retrieved September 10, 2026. https://www.nar.realtor/newsroom/nar-existing-home-sales-report-shows-1-7-decrease-in-july Maryland Department of Housing and Community Development, Maryland Mortgage Program, "Eligibility," retrieved September 10, 2026. Cited for household income limits varying by location and household size. https://mmp.maryland.gov/Pages/Eligibility.aspx Market data in this article was current as of September 10, 2026. Bright MLS publishes metro-level figures monthly and Maryland REALTORS® publishes county-level figures on a one-month lag, so both are worth rechecking before you act on them. {"@context": "https://schema.org", "@type": "BlogPosting", "headline": "Maryland Housing Market Update: Fall 2026", "description": "Baltimore metro's median sold price was $425,000 in August 2026, up 2.4%, with active listings up 14.7% and the 30-year fixed at 6.76%.", "datePublished": "2026-09-26T09:00:00-04:00", "dateModified": "2026-09-26T09:00:00-04:00", "author": {"@type": "Person", "name": "Michael Soper"}, "publisher": {"@type": "Organization", "name": "Next Step Realty"}, "mainEntityOfPage": {"@type": "WebPage", "@id": "https://nextsteprealtymd.com/maryland-housing-market-update-fall-2026/"}, "url": "https://nextsteprealtymd.com/maryland-housing-market-update-fall-2026/"}

Selling without an agent in Maryland removes one cost, the listing-side commission. Everything else stays where it was. The state's 0.5% transfer tax and your share of the county transfer and recordation taxes are still due at settlement, the buyer still gets a state disclosure form before you sign anything, and Bright MLS still runs through a licensed broker. The commission line is the easy part of that math. The rest is easier to leave out: taxes that attach to the property rather than to the agent, paperwork Maryland assigns to the seller by name, and buyer-agent compensation, which works differently than it did before August 2024. Key Takeaways FSBO fell to 5% of U.S. home sales, an all-time low, while 91% of sellers used an agent (National Association of REALTORS®, November 2025). Sixty percent of FSBO sellers already knew their buyer (NAR, November 2025), so the often-quoted FSBO price gap is not a clean comparison. Maryland transfer and recordation taxes are owed either way, and are presumed split 50/50 between buyer and seller (Md. Real Property §14-104). If your buyer is a first-time Maryland home buyer, the seller pays the entire county recordation and local transfer tax unless the contract expressly says otherwise, and the full state transfer tax at 0.25% with no such opt-out (§14-104(c)(1) and (c)(2); Md. Tax-Property §13-203(b)(3)). A property "may not be submitted that is ... listed only by a non-subscriber" (Bright MLS Rules, effective August 14, 2024). What does selling FSBO actually save a Maryland seller? For-sale-by-owner hit an all-time low of 5% of U.S. home sales in the year ending June 2025, while a record 91% of sellers used an agent (National Association of REALTORS®, 2025 Profile of Home Buyers and Sellers, November 2025). FSBO removes the listing-side commission. Every other cost of transferring Maryland real property stays on the settlement sheet. The two sides of a commission are now negotiated separately. Going FSBO ends the listing agreement, but it does not settle what the buyer's representative gets paid. NAR reported a FSBO median sale price of $360,000 against $425,000 for agent-assisted sales in its November 11, 2025 summary of the same survey. Read alone, that looks like a $65,000 penalty, and it gets quoted that way constantly. It is not a controlled comparison. In the same survey, 60% of FSBO sellers already knew the buyer of their home, per NAR Deputy Chief Economist Jessica Lautz, writing November 3, 2025. A sale to a relative or a tenant is often priced for the relationship, and those transactions sit inside the FSBO median. The two figures are mostly measuring different kinds of sales. Median sale price: FSBO vs. agent-assisted, 2025 FSBO $360,000 Agent-assisted $425,000 Sixty percent of FSBO sellers knew their buyer, so the two groups are not directly comparable. Source: National Association of REALTORS®, 2025 Profile of Home Buyers and Sellers (November 2025). What taxes does a Maryland FSBO seller still pay? Maryland charges a 0.5% state transfer tax on the consideration for the deed (Md. Tax-Property §13-203(a)(1)), plus locally set county transfer and recordation taxes. Section 14-104(b) of the Real Property article presumes those taxes are "shared equally between the grantor and grantee" unless the contract says otherwise. Removing the agent does not change any of that. Anne Arundel County publishes a recordation tax of $7.00 per thousand of consideration and a county transfer tax of 1.0% up to $999,999.99, rising to 1.5% at $1,000,000 or more (county Office of Finance, retrieved September 10, 2026). Apply those rates to the county's July 2026 median sale price of $553,500 (Maryland REALTORS®, Housing Statistics, July 2026, data from Bright MLS) and the default 50/50 split, and a seller's share lands near $6,089, about 1.1% of the price. That figure is an illustration built from published rates. It is not a quote for your property. One rule is easy to miss when nobody is reading the offer alongside you. When the buyer is a first-time Maryland home buyer who will occupy the property as a principal residence, §14-104(c)(1) puts the entire county recordation and local transfer tax on the seller "unless there is an express agreement between the parties" that it will not be, and §13-203(b)(3) drops the state rate to 0.25% while making the seller pay all of it, with no such opt-out attached. On that same median, the seller's default tax bill moves from roughly $6,089 to roughly $10,793. A statement signed under oath by the buyer triggers it (§14-104(c)(5)), and that statement arrives with the offer. The county share is negotiable if you raise it in the contract. The state share is not. Illustrative seller transfer + recordation tax Anne Arundel County, $553,500 sale price $6,089 Standard sale (50/50 default) $10,793 First-time MD buyer (seller pays all) Illustration using published statutory and county rates. Your contract sets the actual allocation. Sources: Md. Tax-Property §13-203; Md. Real Property §14-104; Anne Arundel County Office of Finance; Maryland REALTORS® Housing Statistics, July 2026. County rates vary across the Baltimore and Annapolis metros. Our Maryland seller closing costs breakdown carries the county-by-county table, and the buyer's side of the same taxes covers what your buyer will be looking at. Can a for-sale-by-owner listing go on Bright MLS? Not directly. Bright MLS is the multiple listing service covering Maryland and much of the Mid-Atlantic, and its rules limit participation to licensed professionals. Rule 1.1.1 opens participation to "Brokers and Licensees actively engaged in the business of real estate in Bright's Service Area," and Rule 1.1.2 to appraisers (Bright MLS Rules, effective August 14, 2024). The rules spell the exclusion out. Rule 1.6.2 states that "a property may not be submitted that is co-listed with one listing broker and one non-subscriber, or that is listed only by a non-subscriber." Rule 1.6.1 requires the listing agreement itself to allow the broker to submit the listing and a copy of the agreement to Bright. The practical route is a flat-fee or limited-service listing agreement with a licensed Maryland broker who enters the listing for you. It is also the point where "no agent" turns into a smaller agent bill rather than none at all. Whoever enters the listing is then on Bright's clock: under Rule 1.7.1, the MLS entry date must fall within two calendar days of the point when any potential buyer may learn about the property. Bright feeds the portals most buyers search, so where the listing gets syndicated matters more than the sign in the yard. See where Maryland listings actually appear. Who pays the buyer's agent now that compensation is off the MLS? Since August 17, 2024, offers of buyer-broker compensation "are no longer allowed on Multiple Listing Service (MLS) platforms," per NAR's summary of the settlement practice changes. Sellers may still offer compensation off-MLS, or offer buyer concessions on an MLS, and compensation "continues to be fully negotiable." Bright's rules carry that through. Rule 1.12.3 bars subscribers from using the Bright system to communicate about compensation or to enter any amount offered to a cooperating broker. Rule 1.12.3(i) permits an offer to pay another broker outside the system when the client authorizes it in writing in advance. Note who those rules bind: the buyer's agent, not you. That leaves a FSBO seller negotiating the point directly, with no default to fall back on. The buyer's agent already holds a written buyer agreement signed before touring, disclosing the amount or rate that agent will receive (NAR, practice changes effective August 17, 2024). Decline to contribute, and the buyer either covers the fee from their own funds or asks you for a concession that does the same work under another name. The question worth tracking is whether the concession you grant ends up matching the commission you skipped. Those two numbers can land close together, and they show up at different points in the deal, so the comparison is easy to lose. What disclosures does a Maryland FSBO seller have to deliver? Maryland puts the disclosure obligation on the seller by name. Under Md. Real Property §10-702(c)(1), a vendor of single-family residential real property must deliver to each purchaser either a residential property condition disclosure statement or a disclaimer statement, "on a form provided by the State Real Estate Commission." Choosing the disclaimer does not clear the field. Section 10-702(d)(1) still requires disclosure of "any latent defects of which the vendor has actual knowledge," meaning material defects a buyer would not catch on a careful visual inspection that would pose a direct threat to health or safety. The disclosure version covers water and sewer, structural systems, plumbing, electrical, heating and air conditioning, wood-destroying insects, hazardous materials including asbestos, lead-based paint and radon, and smoke and carbon monoxide alarms. Section 10-702(f)(1) requires delivery "on or before entering into a contract of sale," and there is no grace period. Miss it and the purchaser gains a right to rescind and to the return of any deposit, subject to the cutoffs in subsection (h). Under §10-702(k)(1), those purchaser rights "may not be waived in the contract of sale and any attempted waiver is void." One part of the statute speaks directly to the FSBO decision. Section 10-702(m)(1) assigns the listing broker a duty to inform the seller of the seller's rights and obligations under the section, and §10-702(m)(3) provides that a licensee who performs those duties is not liable to any party for a violation. Selling without a listing broker removes the person whose job it is to walk you through the form, along with the professional liability sitting behind them. You keep the obligation and lose the backstop. If the home predates 1978, federal law adds a layer. Sellers must disclose known lead-based paint and hazards, provide the "Protect Your Family From Lead in Your Home" pamphlet before contract, and allow the buyer 10 days to conduct a paint inspection or risk assessment, under Section 1018 of Title X (U.S. Environmental Protection Agency, updated May 27, 2026). What paperwork still has to be right at settlement? Recording a Maryland deed has its own checklist. Md. Real Property §3-104(f)(1)(ii) provides that a deed may not be recorded unless it bears either an attorney's certification that it was prepared by or under that attorney's supervision, or "a certification by a party named in the instrument that the instrument was prepared by that party." That second option is the one that matters if you are selling on your own, and it is genuine: Maryland does not force you to hire an attorney to draft your own deed. Whether you should turns on how ordinary the title is. Recording takes more than the deed. Under §3-104(a)(1), the instrument must carry the tax collector's certificate for the county where the property is assessed, a complete intake sheet, and a copy of the instrument and any survey for the Department of Assessments and Taxation. Section 3-104(b)(1) blocks transfer on the assessment books until taxes and charges currently due are paid. The deposit needs its own plan. Md. Business Occupations and Professions §17-505 requires a broker to hold trust money in an authorized account until the transaction is consummated or terminated, with a defined notice and protest process before any distribution. Without a broker, there is no broker escrow account. A FSBO seller taking a deposit needs a neutral third party to hold it, usually the settlement company, plus contract language saying who releases the money and when. When does FSBO actually make sense in Maryland? When you already have the buyer. Sixty percent of FSBO sellers knew the buyer of their home (NAR, November 2025), and that is the version of FSBO that holds up. There is no marketing to do and no showing schedule to run, and a buyer you already know is less likely to walk over a repair request. Marketing reach is where the argument gets harder. NAR reported that 40% of FSBO sellers "didn't actively market their homes" (NAR, November 11, 2025). Sellers overall told the same survey they placed a high priority on marketing the home to potential buyers, pricing it competitively, and selling within a specific timeframe. Asked separately what gave them trouble, FSBO sellers "most often said they struggled with pricing their home, preparing it for sale and selling within their desired timeframe" (NAR, November 11, 2025). Pricing and timing sit on both lists. Maryland's speed raises the stakes on pricing. Statewide median days on market was 14 in July 2026, with a median sale price of $455,000, up 2.2% year over year, on 6,328 units sold and 3.0 months of inventory (Maryland REALTORS®, Housing Statistics, July 2026, data from Bright MLS). Sub-markets moved faster: 7 days in Howard County, 10 in Baltimore County, 11 in Anne Arundel. In a market that clears that fast, the first two weeks are most of your leverage, and a price set too high burns them. Weighing the two paths is easier with the full Maryland selling process and timeline in front of you, plus what preparation returns at resale, current market conditions, and the buyer's side of the transaction, since you will be fielding their questions. Maryland defines providing real estate brokerage services as doing those things "for consideration ... for another person" (Md. Business Occupations and Professions §17-101(l)), and §17-301(a) requires a license only for providing those services. An owner selling their own property sits outside that definition and needs no license. Legal, though, is not the same as free. Run the numbers before you choose Price both paths on your actual address, using your county's rates and the kind of buyer you expect, then compare the bottom lines instead of the commission lines. Next Step Realty works out of Timonium and Annapolis, covering Anne Arundel, Howard and Baltimore counties. For a seller's net sheet built from live Bright MLS comparable sales, get in touch or call 443-901-2200. If the numbers say FSBO, they say FSBO. Frequently Asked Questions Is it legal to sell your own house in Maryland without a real estate license? Yes. Maryland defines real estate brokerage services as providing them "for consideration ... for another person" (Md. Business Occupations and Professions §17-101(l)), and §17-301(a) requires a license only for providing those services. An owner selling their own property falls outside the definition and needs no license. Can a for-sale-by-owner home be listed on Bright MLS? Not by the owner. Bright MLS Rule 1.1.1 opens participation to brokers and licensees actively engaged in real estate, and Rule 1.6.2 states a property "may not be submitted that is ... listed only by a non-subscriber" (Bright MLS Rules, effective August 14, 2024). Reaching Bright means hiring a licensed broker, often on a flat-fee agreement. Do I still pay the buyer's agent if I sell FSBO in Maryland? That one is negotiable. Since August 17, 2024, compensation offers cannot appear on an MLS, though sellers may still offer compensation off-MLS or grant buyer concessions on an MLS, and compensation "continues to be fully negotiable" (NAR). If you decline, the buyer pays their agent directly or asks you for a concession. What disclosure form does a Maryland FSBO seller have to use? The state's own. Md. Real Property §10-702(c)(1) requires the seller to deliver either a residential property condition disclosure statement or a disclaimer statement "on a form provided by the State Real Estate Commission," on or before entering the contract. Even the disclaimer version requires disclosing known latent defects under §10-702(d)(1). Do FSBO homes really sell for less in Maryland? The national gap is real but not clean. NAR reported a FSBO median of $360,000 against $425,000 for agent-assisted sales in 2025. In the same survey, 60% of FSBO sellers already knew their buyer, so many of those sales were never priced against the open market at all. The bottom line Selling without an agent in Maryland is legal and uncommon, and it changes fewer line items than most sellers expect. The transfer and recordation taxes attach to the property, so they are owed either way. The State Real Estate Commission disclosure form is the seller's job by statute, with no broker standing behind it. Reaching Bright MLS still runs through a licensed broker. And buyer-agent compensation did not disappear in August 2024. It turned into a negotiation. If you already have your buyer, FSBO deserves a serious look. If you are relying on the open market to produce one in a state where the median home went under contract in 14 days this July, the marketing and pricing work is the job. Start with the county-by-county cost of selling in Maryland so the tax side of your comparison rests on published rates. {"@context": "https://schema.org", "@type": "BlogPosting", "headline": "Selling Without an Agent in Maryland: What FSBO Actually Costs", "description": "FSBO fell to 5% of U.S. home sales in 2025 (NAR). Maryland sellers still owe transfer and recordation taxes and the state disclosure form.", "datePublished": "2026-09-23T09:00:00-04:00", "dateModified": "2026-09-23T09:00:00-04:00", "author": {"@type": "Person", "name": "Michael Soper"}, "publisher": {"@type": "Organization", "name": "Next Step Realty"}, "mainEntityOfPage": {"@type": "WebPage", "@id": "https://nextsteprealtymd.com/selling-without-an-agent-maryland-fsbo-costs/"}, "url": "https://nextsteprealtymd.com/selling-without-an-agent-maryland-fsbo-costs/"}

Lutherville and Timonium are adjacent communities in central Baltimore County. They share the 21093 ZIP code and the York Road corridor, and three MDOT MTA Light RailLink stations serve them, which puts Camden Yards roughly 35 minutes away by train. The U.S. Census Bureau counts them as two separate places, and their housing numbers differ more than most buyers expect. Key Takeaways The Census Bureau tabulates Lutherville CDP (6,835 residents in 2020) and Timonium CDP (10,458) separately, not as one place (U.S. Census Bureau QuickFacts, retrieved September 2026). Three light rail stations, Lutherville, Timonium and Fairgrounds, sit inside the area. Neighboring Towson has none. Lutherville is the denser of the two but has the lower median owner-occupied value: $443,900 against Timonium's $480,800 (Census QuickFacts, 2020 to 2024 estimates). In August 2026 the Baltimore metro median sold price was $425,000, up 2.4% year over year, with a median 15 days on market (Bright MLS, August 2026 Housing Market Report). Baltimore County's real property tax rate is $1.10 per $100 of assessed value (Baltimore County Government, Tax Rates). Where are Lutherville and Timonium, and why does the split matter? As of the 2020 Census, Lutherville CDP held 6,835 residents across 2.11 square miles and Timonium CDP held 10,458 across 5.72 square miles (U.S. Census Bureau QuickFacts, retrieved September 10, 2026). Most listings, mail and conversation treat "Lutherville-Timonium" as one place. The federal data does not. The split separates two housing markets that share a ZIP code and behave differently. Lutherville is the compact one, at 3,233 people per square mile in 2020 against Timonium's 1,828. Timonium covers more ground and holds the Maryland State Fairgrounds and the Timonium business park. Buyers who expect the denser place to cost more have it backwards here. In the Census Bureau's 2020 to 2024 estimates, Lutherville's median value of owner-occupied housing units was $443,900. Timonium's was $480,800, about 8% higher. Lutherville also runs a higher owner-occupancy rate, 85.2% against 77.3%, and a median gross rent of $1,423 against Timonium's $1,836, a gap of roughly 29%. If you are renting while you shop, the ZIP code alone will not tell you what you are walking into. For the neighboring market with a walkable downtown and a university, see our Towson MD real estate guide. What does the light rail actually get you? Three Light RailLink stations serve the area: Lutherville, Timonium and Fairgrounds, all on MDOT MTA's BWI Airport/Glen Burnie to Hunt Valley line (MDOT MTA Light RailLink schedule, retrieved September 10, 2026). Neighboring Towson, the county seat, has no station on that line. Take one scheduled midday northbound trip from the MDOT MTA timetable, retrieved September 10, 2026. It leaves Camden Station/Camden Yards at 1:36 p.m., reaches Lutherville at 2:11 p.m., Timonium at 2:13 p.m. and Fairgrounds at 2:15 p.m. That is 35, 37 and 39 minutes from the Camden Yards platform. The same train leaves BWI Airport at 1:10 p.m. and reaches Timonium at 2:13 p.m., 63 minutes, with no transfer and no parking fee. Mean travel time to work was 25.8 minutes for Timonium workers and 24.8 for Lutherville workers (Census QuickFacts, 2020 to 2024 estimates), which fits a short drive better than a downtown train ride. For most households here the light rail handles something other than the daily commute. It takes a stadium parking bill or an airport drop-off out of the monthly budget, and for a household weighing a second car it changes that math too. MDOT MTA lists a single one-way fare at $2.00, a weekly pass at $22.00 and a 31-day pass at $77.00 (MDOT MTA Regular Fares, retrieved September 10, 2026). At $2.00 a ride, the 31-day pass pays for itself at 39 one-way trips, about 20 round trips. One caution if you are pricing a home around the train: the trip above runs on a midday schedule, not a rush-hour one, and stopping patterns change. Pull your own departure for the hour you would actually travel. What is the York Road corridor like? York Road, signed by MDOT's State Highway Administration as Maryland Route 45, runs north to south through both communities, lined with retail, offices and services. The Timonium business park sits off it, as does the Maryland State Fairgrounds, which gives the Fairgrounds light rail station its name. The Fairgrounds are in use well beyond one week a year. The Maryland State Fair ran across three separate blocks in 2026: August 27 to 30, September 3 to 7 and September 10 to 13 (Maryland State Fair, retrieved September 10, 2026). The site also hosts horse racing and year-round events. Streets near the Fairgrounds and near York Road itself carry event and commercial traffic a Sunday morning showing will not reveal. If you are looking within a few blocks of either, visit again on a weekday evening and during a fair week before you write an offer. Further off the corridor the street pattern turns residential and quieter. Walk both before you decide which trade-off you want. What do homes cost in Lutherville versus Timonium? You will see two different numbers quoted around here, and they are easy to confuse. The Census Bureau reports a median value of owner-occupied housing units, which is what owners estimate their homes are worth. Bright MLS reports a median sold price, which is what buyers actually paid. They are not interchangeable. The Census Bureau's 2020 to 2024 estimates for each place: Measure Lutherville CDP Timonium CDP Median value, owner-occupied units $443,900 $480,800 Owner-occupied rate 85.2% 77.3% Median monthly owner costs with a mortgage $2,461 $2,542 Median gross rent $1,423 $1,836 Source: U.S. Census Bureau QuickFacts, retrieved September 10, 2026. The Baltimore metro median sold price, a different measure, was $425,000 in August 2026 (Bright MLS). Neither Bright MLS nor the Census Bureau publishes a current median sold price for these two places on its own. Anyone quoting you a precise Lutherville or Timonium median without naming the report it came from is quoting an estimate. Price bands by street and housing type need current MLS data, worth asking for before you set a budget rather than after. Those monthly owner cost figures are the more useful planning number for most buyers, because they already fold in taxes and insurance rather than principal and interest alone. Planning to sell rather than buy? Our Maryland seller closing costs guide and how to sell your home in Maryland cover the seller side. How does school assignment actually work here? Baltimore County Public Schools assigns students by street address, not by community name or ZIP code, and BCPS publishes a Find Your Zoned School tool for exactly that lookup. Two homes on the same block can zone differently. Verify the specific address before it factors into an offer. Maryland also publishes a star rating for each school through the Maryland School Report Card. The rating is a percentage of total possible points converted to stars: five stars for 75% or more of earned points, four stars for 60% up to 75%, three stars for 45% up to 60%, two stars for 30% up to 45%, and one star below 30% (Maryland State Department of Education, Maryland School Report Card Results, SY 2024-2025, presented November 4, 2025). The points come from academic achievement in English and math, academic progress, progress toward English language proficiency, chronic absenteeism, the Maryland School Survey, access to a well-rounded curriculum, and, for high schools, graduation rate and ninth-grade on-track status. In SY 2024-2025, 43% of Maryland schools earned four or five stars and about 86% earned three or higher. Of the 1,312 schools that received a rating, 555 landed at three stars and 471 at four (MSDE, November 2025). Against that spread, a four-star school is above the state median rather than exceptional, and a three-star school sits in the largest single group in Maryland. Look up any specific school on the Maryland Report Card at reportcard.msde.maryland.gov, and confirm your address with BCPS directly. Ratings change year to year, and so do boundaries. What will it cost to own? Baltimore County levies real property tax at $1.10 per $100 of assessed value, and a local income tax of 3.2% of Maryland adjusted gross income (Baltimore County Government, Tax Rates, retrieved September 10, 2026). On a $450,000 assessment, the county real property line works out to $4,950 a year before any state levy or credit. Assessments do not move every year. Maryland's State Department of Assessments and Taxation appraises each of the state's more than two million property accounts once every three years through 24 local offices (Maryland SDAT, About Real Property, retrieved September 10, 2026). Your assessment can therefore sit still while the market moves, then reset. Baltimore County also administers a Homestead Property Tax Credit under Section 11-2-103 of the county code, which limits the tax increase owner-occupants face when an assessment rises (Baltimore County Government, Tax Credits, retrieved September 10, 2026). Eligibility and calculation run through SDAT. On the transfer side, Baltimore County charges 1.5% of the purchase price on real property transfers, excluding the first $22,000 of residential transfers, plus recordation at $2.50 per $500 of total value (Baltimore County Government, Tax Rates). Maryland's state transfer tax adds 0.5% of consideration under Section 13-203 of the Tax-Property Article. First-time Maryland buyers get a provision worth reading closely: for a sale of improved residential property to a first-time Maryland home buyer who will occupy it as a principal residence, the rate drops to 0.25% and, in the statute's words, "the transfer tax shall be paid entirely by the seller" (Maryland Code, Tax-Property Section 13-203, retrieved September 10, 2026). A first-time Maryland home buyer is defined as someone who has never owned residential real property in the state as a principal residence. Sellers, that provision is a negotiating item you want identified early, not at the table. Buyers, our Maryland transfer tax guide walks the arithmetic, and the Maryland Mortgage Program guide covers state assistance. What is the Baltimore market doing this fall? In August 2026, the Baltimore metro median sold price was $425,000, up 2.4% from a year earlier, with a median 15 days on market, one day slower than the prior August (Bright MLS, August 2026 Housing Market Report, published September 10, 2026). The supply picture shifted more than the price did. Bright MLS reported Baltimore metro active listings 14.7% higher than last August while new listings ran 8.5% lower, new pending sales 4.9% lower and showings 6.0% lower. Inventory is building because fewer buyers are writing offers, not because more sellers are listing. Bright MLS Chief Economist Lisa Sturtevant framed the regional cause as affordability: with prices still rising in most markets, some buyers are hitting a ceiling and others are waiting for more certainty. Nationally, the median existing-home price was $434,100 in July 2026, up 2.0% year over year and the 37th consecutive month of annual increases, with a median 29 days on market and first-time buyers at 29% of sales (National Association of REALTORS, Existing-Home Sales report, August 11, 2026). NAR also cited a 6.54% average 30-year fixed mortgage rate for July, per Freddie Mac. The two readings are a month apart, so treat the comparison as directional rather than exact. On that basis the Baltimore metro sits slightly below the national median price and moves considerably faster, 15 days against 29. For the fuller local picture, see our Maryland housing market update. Frequently Asked Questions Is Lutherville-Timonium one place or two? The U.S. Census Bureau tabulates Lutherville CDP and Timonium CDP as two separate census designated places. In the 2020 Census, Lutherville held 6,835 residents across 2.11 square miles and Timonium held 10,458 across 5.72 square miles. They share the 21093 ZIP code and the York Road corridor, which is why they are usually named together. Does Timonium have light rail to downtown Baltimore? Yes. Three MDOT MTA Light RailLink stations serve the area: Lutherville, Timonium and Fairgrounds, on the BWI Airport/Glen Burnie to Hunt Valley line. On a midday northbound trip in the MDOT MTA timetable retrieved September 10, 2026, Camden Station/Camden Yards to Timonium took 37 minutes. A one-way fare is $2.00 and a 31-day pass is $77.00. What is the property tax rate in Lutherville and Timonium? Both sit in Baltimore County, which levies real property tax at $1.10 per $100 of assessed value plus a local income tax of 3.2% of Maryland adjusted gross income. On a $450,000 assessment, the county real property line is $4,950 a year before state levy or credits. Maryland reassesses each property once every three years. Which schools serve Lutherville and Timonium? Baltimore County Public Schools assigns students by street address, not by community name or ZIP code. Two homes on the same block can zone differently. Use the BCPS Find Your Zoned School tool to confirm assignment for a specific address, and look up any school's rating on the Maryland School Report Card before you factor it into an offer. Do first-time buyers pay Maryland transfer tax? Maryland's state transfer tax is 0.5% of consideration. Under Tax-Property Section 13-203, a sale of improved residential property to a first-time Maryland home buyer who will occupy it as a principal residence is taxed at 0.25%, and the statute directs that the transfer tax "shall be paid entirely by the seller." County transfer and recordation charges apply separately. Before you shop this market Averages will mislead you in this market. One ZIP code covers two census places with an 8% gap in median owner-occupied value and a 29% gap in median rent. School assignment turns on the street address rather than the community name. And the light rail schedule worth checking is the one for the hour you would actually travel. Our Timonium office is at 22 W. Padonia Road, Suite A-100, inside the area this guide covers. For current sold comparables on a specific street, or a read on where a listing should be priced, get in touch or see our offices. For other Baltimore County options, compare the Towson guide and the Catonsville guide. If this is your first Maryland purchase, start with the Maryland home buying process and pre-approval versus pre-qualification. Michael Soper is a Realtor with Next Step Realty, a Compass-affiliated brokerage with offices in Timonium and Annapolis, Maryland. This guide is informational and is not tax, legal or lending advice. Verify school assignment with Baltimore County Public Schools and tax figures with Baltimore County and the Maryland State Department of Assessments and Taxation before relying on them. Equal Housing Opportunity. {"@context": "https://schema.org", "@type": "BlogPosting", "headline": "Timonium and Lutherville MD Real Estate Guide (2026)", "description": "Lutherville and Timonium share the 21093 ZIP code but not one housing market. Three light rail stations, two Census medians, and a $425,000 metro median.", "datePublished": "2026-09-19T09:00:00-04:00", "dateModified": "2026-09-19T09:00:00-04:00", "author": {"@type": "Person", "name": "Michael Soper"}, "publisher": {"@type": "Organization", "name": "Next Step Realty"}, "mainEntityOfPage": {"@type": "WebPage", "@id": "https://nextsteprealtymd.com/timonium-lutherville-md-real-estate-guide-2026/"}, "url": "https://nextsteprealtymd.com/timonium-lutherville-md-real-estate-guide-2026/"}

Price a Maryland home off what comparable homes closed for in the last 90 days, what similar homes are listed at today, and what is already under contract. In August 2026 the Baltimore metro median sale price was $425,000, with a median 15 days on market (Bright MLS, August 2026 Housing Market Report). Those are the inputs. What you owe on the mortgage is not one of them, and neither is the folder of renovation receipts. Key Takeaways Baltimore metro homes sold at a $425,000 median in August 2026, up 2.4% year over year, in a median 15 days (Bright MLS, August 2026). Active listings across the Baltimore metro were up 14.7% year over year in August 2026, so sellers face more competition than they did a year ago (Bright MLS, August 2026). Homes on the market two weeks or less sold at a median 100% of final list price, falling to 94% at 17 weeks or more (NAR, 2025 Profile of Home Buyers and Sellers, Exhibit 6-21). Nationally, 16% of homes sold above list price in August 2026, down from 20% a year earlier (NAR, August 2026 REALTORS® Confidence Index). What is the right asking price for a Maryland home in 2026? The right asking price is the number that puts your home inside the search results serious buyers are already looking at, and close enough to recent closed sales that an appraiser can support it. In July 2026 the statewide median sale price in Maryland was $455,000, up 2.2% from a year earlier, with a median 14 days on market (Maryland REALTORS®, Housing Statistics, July 2026, using Bright MLS data). That statewide figure is context and not much more than that. The spread inside the Baltimore and Annapolis metros is wide enough that a statewide median tells you almost nothing about your street. Conditions have shifted since spring. Bright MLS reported that Baltimore metro active listings were up 14.7% year over year in August 2026, while new pending sales fell 4.9% and showings fell 6.0%. More homes are competing for fewer active buyers. Bright MLS Chief Economist Lisa Sturtevant attributed the slowdown to affordability: "Mortgage rates have remained persistently high this summer. With home prices still rising in most markets, some homebuyers are simply hitting an affordability ceiling." Rates back that up. Freddie Mac's Primary Mortgage Market Survey put the 30-year fixed average at 6.76% for the week ending September 10, 2026, up from 6.35% a year earlier. A buyer's budget in fall 2026 is tighter than it was in fall 2025, so demand no longer covers for a stretch price the way it did a year ago. How do you choose comparable sales that actually predict your price? A comparable sale is a closed transaction a buyer would have genuinely considered instead of your home. In practice: same submarket, similar size, age and condition, settled inside the last 90 days. In a market where the Baltimore metro median moved 2.4% in a year (Bright MLS, August 2026), a sale from 12 months ago is too old to carry much weight. Four filters to run a comp through Start tight and only widen when you have to. Distance. Same neighborhood first. In Anne Arundel and Baltimore counties, subdivision lines often matter more than zip codes. Time. Closed within 90 days. Listings under contract show you where the market is heading, and expired listings show you the prices buyers already passed on. Physical match. Bedroom and bath count, above-grade square footage, finished basement, garage, lot size. Above-grade and below-grade space are not interchangeable to an appraiser. Condition and finish. A renovated kitchen and a 1998 kitchen in the same floor plan are two different products. Two Maryland-specific filters are easy to miss. Waterfront and water-access properties in Anne Arundel County are their own market, and a comp two streets inland is not a substitute. School attendance boundaries can also split a single subdivision, and many buyers search by attendance area, so a sale across a boundary line may not be a true comparable. Confirm current attendance with the county school system, since boundaries are redrawn periodically. What is not a comparable sale These do not set your price: - A state assessment is not a market value. The Maryland Department of Assessments and Taxation appraises every property "once every three years," and your Notice of Assessment "shows the old market value as well as the new market value." A value set up to three years ago is not today's market. - Portal estimates are automated models built on public records, and they vary by platform. For how the major sites differ in Maryland, see our comparison of Bright MLS, Zillow and Realtor.com data. - What you paid, plus what you spent on improvements, is your basis. Buyers price the house in front of them. - What you need to net is a planning question rather than a market input. Run it separately against Maryland seller closing costs. How long do Maryland homes take to sell right now? Pace varies sharply by county. In July 2026 the median home sold in 7 days in Howard County, 10 days in Baltimore County, 11 days in Anne Arundel County and 22 days in Baltimore City, against a 14-day statewide median (Maryland REALTORS®, Housing Statistics, July 2026, using Bright MLS data). Median Days on Market by Jurisdiction, July 2026 Howard Co. 7 days Baltimore Co. 10 days Anne Arundel 11 days Maryland 14 days Baltimore City 22 days Source: Maryland REALTORS®, Housing Statistics, July 2026 (data from Bright MLS). Supply explains most of that spread. Months of inventory ran 1.8 in Howard County and 4.8 in Baltimore City in the same month. Jurisdiction Median sale price Median days on market Months of inventory Howard County $674,900 7 1.8 Anne Arundel County $553,500 11 2.1 Baltimore County $385,000 10 2.2 Baltimore City $250,000 22 4.8 Maryland statewide $455,000 14 3.0 Source: Maryland REALTORS®, Housing Statistics, July 2026 (data from Bright MLS; current as of August 6, 2026). What about days on market by price band? Bright MLS does not publish a public days-on-market breakdown by price band for the Baltimore metro, so the county figures above are the closest public read, and they blend every price point inside each county. What Bright MLS has said directly is that the top of the market has held up better than the middle. In its July 2026 report, Sturtevant noted: "The silver lining is that higher-income and transaction-ready buyers have persisted, with closed sales growing in the upper end of the market." So pull days on market for your own price band inside your own submarket before you set a number. The county median may be describing a different buyer than yours. Our guides to Annapolis, Towson and Howard County break it down further. What does overpricing actually cost a Maryland seller? It costs a discount that grows the longer the home sits. Nationally, homes on the market less than one week sold at a median 100% of final list price, and homes on the market 17 weeks or more sold at 94% (NAR, 2025 Profile of Home Buyers and Sellers, Exhibit 6-21). NAR's own summary of that exhibit: "generally, the longer a home is on the market, the greater the discount from the listing price upon sale." Sale Price vs Final List Price, by Time on Market Under 1 week 100% of list 1 to 2 weeks 100% of list 3 to 4 weeks 99% 5 to 8 weeks 98% 9 to 16 weeks 96% 17+ weeks 94% Source: NAR, 2025 Profile of Home Buyers and Sellers, Exhibit 6-21 (national medians). Four percentage points on a $425,000 sale, the Baltimore metro median in August 2026, works out to roughly $17,000. One detail in Exhibit 6-21 changes how you should read it. The percentages measure sale price against the final list price, not the original one. By the time a long-sitting listing closes, the asking price has usually already been cut. NAR's Exhibit 6-22 found that only 9% of sellers did not reduce the asking price at all, and 25% reduced it once. The discount in that chart therefore comes on top of those reductions, which puts the gap between an overpriced launch and the eventual closing number well past 6 points. Negotiating leverage is also thinner than it was. In August 2026, 16% of homes sold above list price nationally, down from 19% the month before and 20% a year earlier, and listings received an average of 2.1 offers, down from 2.5 a year earlier (NAR, August 2026 REALTORS® Confidence Index). Fewer competing offers means fewer chances for a stretch price to get validated. Timing compounds the problem. NAR found the median home spent four weeks on the market in 2025, one week longer than the year before, with 9% selling in under a week and another 34% inside one to two weeks (Exhibit 6-20). Put differently, 43% of sellers were done inside two weeks. Pricing above the market spends that window on buyers who were never going to write an offer. For the work that does move the number before launch, see our breakdown of home staging and prep that adds value in Maryland. What happens if the appraisal comes in below the contract price? The lender lends against the lower of the contract price or the appraised value, so a low appraisal creates a cash gap the buyer has to cover, renegotiate, or walk away from. In August 2026, 14% of contracts had a delayed settlement in the prior three months, and 6% of those delayed contracts hit appraisal issues. A further 7% of contracts were terminated outright in that window (NAR, August 2026 REALTORS® Confidence Index). The risk is not evenly distributed, because not every buyer is protected. NAR found 22% of buyers waived the appraisal contingency in August 2026, up from 21% the month before and down from 24% a year earlier. A buyer who waived it has agreed to cover a shortfall in cash. A buyer who kept the contingency can renegotiate or exit. That matters for how you weigh competing offers. A higher price from a buyer with a full appraisal contingency and thin cash reserves carries more risk than a slightly lower price from a buyer who can absorb a gap. Compare offers on the financing and the gap language, not the headline number alone. A list price the comps already support is the cheapest protection against this. An appraiser works from the same closed sales you should have used, so a number built on real comps rarely comes back short. How do you read the market after you go live? Treat the first two weeks as a measurement period with a decision at the end of it. Showings and saved-listing activity tell you whether the price is landing before any offer arrives, and in a metro where the median home went under contract in 15 days in August 2026 (Bright MLS), two weeks of quiet is worth acting on rather than waiting out. A few patterns come up again and again: Steady showings and no offers usually means the price is close enough to pull traffic, but the home is losing head to head against a specific competitor. Look at condition, photography and the top two active listings buyers are comparing you to. Few or no showings means the price sits outside the search filters your buyers are using. A reduction that clears a round-number threshold does more than a token cut. Showings plus low offers means the market is telling you its number. Compare those offers against the discount curve above before dismissing them. Incentives are the other lever. NAR found 27% of sellers offered incentives to attract buyers, up from 24% the previous year, with closing cost assistance the most common at 11% (Exhibit 6-23). When affordability is the constraint, a closing cost credit can be worth more to a stretched buyer than an equivalent price cut. For the full sequence from prep through settlement, see our guide to selling a home in Maryland, and for the wider picture, our Maryland housing market update. Talk through your number before you list A list price is hard to walk back. A listing that launches too high carries its days-on-market history for the rest of the campaign. If you are weighing a sale in the Baltimore or Annapolis metros, Next Step Realty can walk your comparable sales, price band and timeline with you before anything goes live. Get in touch or call 443-901-2200. Frequently Asked Questions How much over market value can I list my Maryland home? Very little, and less than in past years. In August 2026, 16% of homes nationally sold above list price, down from 20% a year earlier, and listings drew an average of 2.1 offers (NAR, August 2026 REALTORS® Confidence Index). Baltimore metro active listings were up 14.7% year over year that month (Bright MLS), so buyers have alternatives. How many comparable sales do I need to price a home? Three to five closed sales from the last 90 days in the same submarket, plus the active listings a buyer would see beside yours. Maryland's median home sold in 14 days in July 2026 (Maryland REALTORS®, using Bright MLS data), so older sales quickly stop reflecting the current market. Does my Maryland tax assessment tell me what my home is worth? No. The Maryland Department of Assessments and Taxation appraises each property "once every three years," and the Notice of Assessment "shows the old market value as well as the new market value." A value set as long as three years ago will not match today's market, in either direction. How long should I wait before reducing my price? Use the first two weeks as your read. Nationally, homes selling in that window received a median 100% of final list price, falling to 96% by 9 to 16 weeks and 94% at 17 weeks or more (NAR, 2025 Profile of Home Buyers and Sellers, Exhibit 6-21). Waiting a month to react costs more than the cut would have. What is an appraisal gap and who pays it? An appraisal gap is the difference between the contract price and a lower appraised value. The lender funds the lower figure, so the buyer covers the difference in cash, renegotiates, or exits if a contingency allows. In August 2026, 22% of buyers waived the appraisal contingency, and among the 14% of contracts that had a delayed settlement, 6% involved appraisal issues (NAR, August 2026 REALTORS® Confidence Index). The short version Pricing a Maryland home in 2026 comes down to evidence. Pull closed sales from the last 90 days in your submarket, check what is active and pending against you, and set a number an appraiser can defend from the same data. The market has given sellers less room than it did a year ago. Baltimore metro inventory was up 14.7% in August 2026, new pending sales were down 4.9%, and the share of homes selling above list price nationally fell from 20% to 16% (Bright MLS and NAR, August 2026). Homes priced fairly still move quickly, and the 15-day metro median shows it. What has changed is how fast buyers move on from the ones that are not. Sources Bright MLS, August 2026 Housing Market Report: Mid-Atlantic Housing Market Cools, published September 10, 2026, retrieved 2026-09-10. https://www.globenewswire.com/news-release/2026/09/10/3359681/0/en/bright-mls-august-2026-housing-market-report-mid-atlantic-housing-market-cools.html Bright MLS, July 2026 Housing Market Report, retrieved 2026-09-10. https://finance.yahoo.com/real-estate/articles/bright-mls-july-2026-housing-140500005.html Maryland REALTORS®, Housing Statistics, July 2026 (data from Bright MLS; current as of August 6, 2026), retrieved 2026-09-10. https://www.mdrealtor.org/News-and-Events/Housing-Statistics National Association of REALTORS®, August 2026 REALTORS® Confidence Index Survey, published September 10, 2026, retrieved 2026-09-10. https://www.nar.realtor/sites/default/files/2026-09/2026-08-realtors-confidence-index-09-10-2026.pdf National Association of REALTORS®, 2025 Profile of Home Buyers and Sellers, Chapter 6, Exhibits 6-19 through 6-23, published November 2025, retrieved 2026-09-10. https://www.rirealtors.org/clientuploads/documents/NAR/Homebuyers_and_sellers_trend_2025.pdf Freddie Mac, Primary Mortgage Market Survey, week ending September 10, 2026, retrieved 2026-09-10. https://www.freddiemac.com/pmms Maryland Department of Assessments and Taxation, Real Property — About Real Property, retrieved 2026-09-10. https://dat.maryland.gov/realproperty/Pages/default.aspx Maryland Department of Assessments and Taxation, Assessment Appeal Process, retrieved 2026-09-10. https://dat.maryland.gov/realproperty/Pages/Assessment-Appeal-Process.aspx {"@context": "https://schema.org", "@type": "BlogPosting", "headline": "How to Price a Maryland Home in 2026", "description": "Baltimore metro homes sold at a $425,000 median in 15 days in August 2026 (Bright MLS). How to choose comps and set a list price that holds.", "datePublished": "2026-09-16T09:00:00-04:00", "dateModified": "2026-09-16T09:00:00-04:00", "author": {"@type": "Person", "name": "Michael Soper"}, "publisher": {"@type": "Organization", "name": "Next Step Realty"}, "mainEntityOfPage": {"@type": "WebPage", "@id": "https://nextsteprealtymd.com/how-to-price-a-maryland-home-2026/"}, "url": "https://nextsteprealtymd.com/how-to-price-a-maryland-home-2026/"}

A Maryland seller's net proceeds turn on six lines: mortgage payoff, commission, the seller's share of transfer and recordation taxes, settlement fees, any concession you agreed to, and prorated property taxes, which usually come back to you as a credit. In the worked example below, a $425,000 sale carries costs of roughly 7.5 percent before the mortgage payoff. Most sellers don't see that percentage until the week of closing. A cost list only names the line items, while a net sheet does the arithmetic and produces the number that actually gets wired to you. This guide builds that number using Maryland rates from the statutes and county offices that set them. Key Takeaways Net proceeds = sale price − payoff − commission − your half of transfer and recordation taxes − settlement fees − concessions + prorated property tax credit. Maryland splits recordation and transfer taxes equally between buyer and seller by default (Md. Real Property §14-104), so your tax share runs about 1.1 percent of the price in Anne Arundel County. Maryland's tax year runs July 1 to June 30, so a fall closing usually sends money back to the seller as a proration credit. Title companies withhold 8.75 percent of the total payment from nonresident individual sellers at closing (Comptroller of Maryland, effective for sales after June 30, 2025). That money is a prepayment of income tax, not a cost. Sellers gave buyers a concession in 46.2 percent of U.S. home sales over the three months ending May 31, 2026, up from 43.1 percent a year earlier (Redfin). What is a seller net sheet, and who gives you one? A seller net sheet is a one-page estimate that starts at your sale price and subtracts every cost of closing to show your take-home proceeds. In Maryland, your agent prepares it before you list and updates it with each offer. The title company produces the final version, the settlement statement, shortly before closing. The net sheet is a planning tool, so it uses estimates and changes as the deal changes. The settlement statement is the final accounting, and it's the one you sign. Ask for a net sheet at three moments: before you set a list price, when you receive an offer, and again if the buyer requests repairs or a concession after inspection. Each of those events moves the bottom line, and in the example below the two negotiable lines alone account for $29,250. If you want the full itemized breakdown of what each cost is and why it exists, our guide to Maryland seller closing costs covers the line items, the county tax table, and the costs that aren't yours to pay. This article does the math those line items feed into. How is net proceeds actually calculated? Net proceeds follow one formula, and every Maryland net sheet is a version of it. Start with the contract sale price. Subtract the payoff, commission, your share of transfer and recordation taxes, settlement fees, and concessions. Then add back your property tax proration credit. What remains is your wire. Written out: Sale price − mortgage payoff − commission − seller's share of transfer and recordation taxes − settlement and document fees − seller concessions + property tax proration credit = net proceeds Two of those five subtractions are effectively fixed. The tax rates are set by statute and county ordinance, starting with the 0.5 percent state transfer tax on the consideration under Md. Code, Tax-Property §13-203, and your payoff is whatever your lender says it is. The remaining three, commission, settlement fees and concessions, are negotiable, which is where you have leverage. Why is your mortgage payoff bigger than your loan balance? Your payoff is not the balance on your last statement. It's the principal balance plus interest accrued through the payoff date, plus any recording or release fee your lender charges, minus any escrow the servicer applies. The size of the gap is arithmetic you can run yourself: multiply your balance by your rate, divide by 365, and multiply by the days between your last payment and closing. Ask your servicer for a written payoff quote rather than estimating. The mechanic is per-diem interest. Mortgage interest accrues daily and you pay it in arrears, so the payment you made on the first of the month covered the previous month. Every day between that payment and your closing date adds interest nobody has billed you for yet. Payoff statements are also dated. Your title company orders a quote good through a specific date, and if closing slips past it, the title company has to reorder it at a higher number. When settlement gets pushed a week, this is the line that moves. Escrow works the other way. If your lender collected taxes and insurance in escrow, the servicer refunds that balance after the loan closes, usually by check within a few weeks rather than in your closing wire. A good net sheet notes it outside the main column. How do Maryland property tax prorations work? Maryland's property tax year runs July 1 through June 30, and counties issue bills around July 1 for the year ahead. Because the tax is billed forward rather than backward, a seller who has paid the bill and then closes mid-year has prepaid for months the buyer will own the home. At settlement, the buyer reimburses the seller for those days. That reimbursement shows up as a credit, which is why a fall closing in Maryland often sends money back to the seller. Take a home assessed at $425,000 in unincorporated Anne Arundel County. For FY2027 the county rate is $0.96800 per $100 of assessment and the state rate is $0.11200, or $1.08000 combined (Anne Arundel County Government, Current Tax Rates), which produces an annual bill of $4,590. Divided across 365 days, that's $12.58 per day. A seller closing on October 15, 2026 has owned the home for 106 days of the tax year, leaving 259 days that belong to the buyer. The credit back to the seller is about $3,257. The wrinkle is which bill you actually paid. Maryland offers a semiannual schedule for principal residences, with one installment due by September 30 and the second by December 31 (Maryland State Department of Assessments and Taxation, Questions and Answers on Semiannual Property Tax Payment). A seller on that schedule who closes October 15 has paid only the first $2,295 installment, covering July through December. The credit in that case is roughly $973, not $3,257. Neither figure is wrong. They differ because the seller prepaid different amounts, so before you trust any proration number, check which installments you have paid. What do seller concessions do to your bottom line? A concession is money you credit the buyer at closing, usually toward their closing costs or a mortgage rate buydown. It comes directly out of your proceeds, dollar for dollar, and it doesn't reduce your transfer taxes or commission, because both are calculated on the full contract price. Concessions are common right now. Across the three months ending May 31, 2026, sellers gave buyers a concession in 46.2 percent of U.S. home sales, up from 43.1 percent in the same period a year earlier, according to Redfin's report "46% of Home Sellers Gave Concessions to Buyers in May" published June 22, 2026. Redfin counts money toward repairs, closing costs and rate buydowns, but not a reduction in list price. That distinction matters on your sheet. A $10,000 price cut and a $10,000 concession look similar on paper, but they behave differently. The price cut lowers your transfer tax and commission slightly, because both scale with price. The concession doesn't, and it keeps the recorded sale price higher, which matters to the buyer's appraisal and to future comparable sales on your street. How hard buyers push on this depends on local conditions. In August 2026, the Baltimore metro had 14.7 percent more active inventory than a year earlier while new listings fell 8.5 percent, per Bright MLS's August 2026 Housing Market Report published September 10, 2026. More standing inventory generally means more negotiating on concessions. Our summer 2026 Maryland market update tracks these conditions in more detail. A worked example: $425,000 in Anne Arundel County The table below runs a complete net sheet on a $425,000 sale closing October 15, 2026 in unincorporated Anne Arundel County. The price is the Baltimore metro median sold price for August 2026, up 2.4 percent year over year (Bright MLS, August 2026 Housing Market Report). Tax rates come from the statutes and the county's own finance page. Lines marked "assumed" are inputs specific to your situation, not published figures. The proration line also assumes the property's assessed value equals the sale price and that the full year's tax was paid; your assessment is set by the state and is usually a different number, so check your own bill. Line Amount Basis Sale price $425,000.00 Baltimore metro median, Aug 2026 (Bright MLS) Mortgage payoff −$250,000.00 Assumed Commission, 5% total −$21,250.00 Assumed; fully negotiable State transfer tax, seller half of 0.5% −$1,062.50 Md. Tax-Property §13-203 County transfer tax, seller half of 1.0% −$2,125.00 Anne Arundel County Finance Recordation tax, seller half of $7 per $1,000 −$1,487.50 Anne Arundel County Finance Seller concession −$8,000.00 Assumed Settlement and document fees −$1,200.00 Assumed Property tax proration credit +$3,257.00 FY2027 rate, Oct 15 closing; assumes $425,000 assessment, full year paid Net proceeds $143,132.00 The seller's combined transfer and recordation tax comes to $4,675, or 1.1 percent of the sale price. Total costs excluding the mortgage payoff come to $31,868, about 7.5 percent of the price. Commission and the concession together make up $29,250 of that $31,868, and those are the two lines you negotiate. The tax lines are set by statute and county, and the proration by the calendar. Change the county and the tax lines move. Anne Arundel charges 1.0 percent county transfer tax on transactions up to $999,999.99 and 1.5 percent at $1 million and above, plus recordation at $7.00 per thousand, rounded up to the nearest $500 (Anne Arundel County Government, Recordation and Transfer Tax). Baltimore County, Howard County and Baltimore City each set their own rates, which is why a net sheet built for a Severna Park listing doesn't transfer cleanly to a Towson one. One statutory exception can raise your tax share substantially. If your buyer is a first-time Maryland homebuyer who will occupy the home as a principal residence, §14-104 moves the whole tax burden to the seller: the entire recordation tax and county transfer tax, unless the contract expressly says otherwise, plus the entire state transfer tax, which the statute does not let the parties reassign. The state rate is halved to 0.25 percent in that case (Md. Tax-Property §13-203), but you pay all of it instead of half. Our first-time buyer programs guide explains who qualifies, and the closing costs guide works through what that shift costs. Why do out-of-state sellers see an 8.75 percent line? If you no longer live in Maryland, the title company withholds Maryland income tax at closing before wiring your proceeds. The rate is 8.75 percent for nonresident individuals and 8.25 percent for nonresident entities, and it applies to all sales occurring after June 30, 2025, per the Comptroller of Maryland's tax alert "Rate Change to Withholding on Sale of Real Property by a Nonresident" (alert dated April 13, 2026). On a $425,000 sale, the title company holds back roughly $37,188 from an individual nonresident. That single line dwarfs every other cost on the sheet, and it catches people who inherited a Maryland property or moved away years ago. That line is less alarming than it looks. The withholding is a prepayment of income tax rather than a cost, so Maryland credits it against what you owe and refunds the rest if you overpaid. The Comptroller also runs an exemption process for sellers who can show that less tax, or none, will be owed. The size of that number comes from what the rate applies to. The Comptroller states the rates "are applied to the total payment to a nonresident," not to your profit. Even a seller with little or no gain gives up 8.75 percent of the gross at the closing table unless an exemption certificate is already in place. If you're selling from out of state, raise this with your title company early, because the paperwork has to precede settlement. Which Maryland lines catch sellers off guard? A generic net-proceeds estimate built on national averages won't include the Maryland-specific items below, and all three are routine in the Baltimore and Annapolis markets. Check them before you list. Ground rent affects parts of Baltimore and the surrounding area, where an annual payment goes to a separate leasehold owner. Only ground rents registered with the state are legally collectible, and the Maryland State Department of Assessments and Taxation maintains the searchable registry. If your property carries one, you have to address or redeem it at settlement. HOA and condo dues get prorated to the closing date the same way property taxes do. The resale certificate carries a document fee and takes time to produce, so order yours as soon as you're under contract. Municipal water is the third one to check. Some Maryland jurisdictions bill quarterly and treat an unpaid balance as a lien against the property, and settlement clears it out of your proceeds. None of these is large next to commission, but all three can delay a closing, and a delay costs you per-diem interest on a mortgage you're still paying. Get your numbers before you list Every line above changes with your county, your payoff, your closing date and your buyer. Request a seller's net sheet and we'll build your bottom line from live comparable sales for your address, with your county's tax rates, your payoff and your closing date. Call 443-901-2200 or request your net sheet. If you're earlier in the process, our guide to how to sell a home in Maryland walks through the sequence, and the staging guide covers what pre-listing spending tends to return. Frequently Asked Questions How do I calculate my net proceeds when selling a house in Maryland? Subtract your mortgage payoff, commission, your share of transfer and recordation taxes, settlement fees and any buyer concession from the sale price, then add your property tax proration credit. Maryland splits recordation and transfer taxes equally between buyer and seller by default under Md. Real Property §14-104. How much does a Maryland seller pay in transfer and recordation tax? In Anne Arundel County, on a sale under $1 million, a seller's combined share is about 1.1 percent of the sale price. That's half of the 0.5 percent state transfer tax (Md. Tax-Property §13-203), half of the county's 1.0 percent transfer tax, and half of recordation at $7.00 per thousand. Rates differ by county, and the county transfer tax rises to 1.5 percent at $1 million and above. Do Maryland sellers get money back for property taxes at closing? Usually yes. Maryland's tax year runs July 1 to June 30 and counties bill in advance, so a seller who has already paid gets a credit for the days after closing. On a $4,590 annual bill with an October 15 closing, that credit is roughly $3,257 if the full year was paid. What is the Maryland nonresident seller withholding tax? Maryland withholds 8.75 percent of the total payment to nonresident individuals and 8.25 percent to nonresident entities at closing, effective for sales after June 30, 2025 (Comptroller of Maryland). It's a prepayment of income tax, not a cost: it's credited against what you owe, and any excess comes back to you. Sellers can also apply for a full or partial exemption certificate before settlement. Does a seller concession reduce my transfer tax in Maryland? No. Transfer and recordation taxes are calculated on the full contract sale price, so a concession reduces your proceeds dollar for dollar without lowering your tax. A price reduction of the same amount does lower both tax and commission slightly, because both scale with the recorded price. When should I ask my agent for a net sheet? Ask three times: before setting your list price, when you receive each offer, and again if the buyer requests repairs or a concession after inspection. In NAR's 2025 Profile of Home Buyers and Sellers, 91 percent of sellers used a real estate agent or broker, and median seller tenure reached 11 years, an all-time high (National Association of REALTORS®). Sources Md. Code, Tax-Property §13-203 (state transfer tax rate), retrieved 2026-09-10, https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gtp&section=13-203 Md. Code, Real Property §14-104 (default equal split; first-time buyer rule), retrieved 2026-09-10, https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=grp&section=14-104 Anne Arundel County Government, Recordation and Transfer Tax, retrieved 2026-09-10, https://www.aacounty.org/finance/tax-information/recordation-and-transfer-tax Anne Arundel County Government, Current Tax Rates (FY2027), retrieved 2026-09-10, https://www.aacounty.org/finance/tax-information/current-tax-rates Comptroller of Maryland, Maryland Tax Alert: Rate Change to Withholding on Sale of Real Property by a Nonresident, effective April 13, 2026, retrieved 2026-09-10, https://www.marylandcomptroller.gov/content/dam/mdcomp/tax/legal-publications/alerts/tax-alert-rate-change-to-withholding-on-sale-of-real-property-by-a-nonresident.pdf Bright MLS, August 2026 Housing Market Report, published 2026-09-10, retrieved 2026-09-10, https://www.globenewswire.com/news-release/2026/09/10/3359681/0/en/bright-mls-august-2026-housing-market-report-mid-atlantic-housing-market-cools.html Redfin, 46% of Home Sellers Gave Concessions to Buyers in May, the Highest Share on Record For That Month, published 2026-06-22, retrieved 2026-09-10, https://www.redfin.com/news/home-seller-concessions-record-high-rate/ Maryland State Department of Assessments and Taxation, Questions and Answers on Semiannual Property Tax Payment, retrieved 2026-09-10, https://dat.maryland.gov/realproperty/pages/question-and-answers-on-semiannual-property-tax-payment.aspx Maryland State Department of Assessments and Taxation, Ground Rent, retrieved 2026-09-10, https://dat.maryland.gov/realproperty/Pages/Ground-Rent.aspx National Association of REALTORS®, Top 10 Takeaways from NAR's 2025 Profile of Home Buyers and Sellers, published 2025-11-03, retrieved 2026-09-10, https://www.nar.realtor/blogs/economists-outlook/top-10-takeaways-from-nars-2025-profile-of-home-buyers-and-sellers Tax rates, statutes and market figures cited here were retrieved on September 10, 2026 and are subject to change. This article is general information, not tax or legal advice. Confirm current rates with your county finance office and consult a tax professional about your situation. {"@context": "https://schema.org", "@type": "BlogPosting", "headline": "Maryland Home Seller Net Sheet: What You Actually Walk Away With", "description": "Your Maryland net proceeds are sale price minus payoff, commission, taxes, prorations and concessions. See a worked $425,000 example, line by line.", "datePublished": "2026-09-12T09:00:00-04:00", "dateModified": "2026-09-12T09:00:00-04:00", "author": {"@type": "Person", "name": "Michael Soper"}, "publisher": {"@type": "Organization", "name": "Next Step Realty"}, "mainEntityOfPage": {"@type": "WebPage", "@id": "https://nextsteprealtymd.com/maryland-home-seller-net-sheet-2026/"}, "url": "https://nextsteprealtymd.com/maryland-home-seller-net-sheet-2026/"}

Buying a home in Maryland follows a predictable path, but 2026 has a few Maryland-specific wrinkles worth knowing before you start. From a new rule about signing with your agent, to Bright MLS, to who pays what at a Maryland closing, this is the full step-by-step process. Bookmark it as your roadmap from pre-approval to keys. Key Takeaways As of August 2024, you now sign a written agreement with your agent before touring a home, and agent compensation is negotiable (NAR). Maryland is a fast market: the median home went under contract in just 11 days in June 2026, on 2.9 months of supply (Maryland REALTORS®). Offers use the Maryland Residential Contract of Sale, with financing, inspection, and appraisal protections added as addenda. A financed purchase typically closes in about 30–45 days (the national average for purchase loans was 36.8 days in March 2026, per ICE Mortgage Technology), and if you're a first-time Maryland buyer, the seller generally pays the transfer and recordation taxes (Md. Real Property §14-104). The Maryland home buying process at a glance Before the details, here's the whole journey in order. Most Maryland buyers move from pre-approval to closing in a couple of months, though the search itself can be fast in this market. Get pre-approved for a mortgage Sign a buyer agreement and choose your agent Search for homes on Bright MLS Make an offer on the Maryland Contract of Sale Inspection and appraisal Financing and underwriting Closing and keys Step 1: Get pre-approved Start with financing, not house-hunting. A mortgage pre-approval tells you your real budget and shows sellers you're serious, which matters in a market where homes move in under two weeks. This is also where you compare loan types: our FHA vs conventional vs VA guide breaks down which fits which buyer, and it's worth understanding the difference between pre-approval and pre-qualification before you shop. For context, the 30-year fixed averaged 6.66% the week of Aug 27, 2026 (Freddie Mac). Step 2: Sign a buyer agreement and choose your agent This is the newest step in the process. Since August 17, 2024, a real estate agent must have a signed written buyer agreement before touring a home with you, including virtual tours, and that agreement spells out how the agent is paid, which is fully negotiable (NAR). In practice this just means you'll formalize your relationship with your agent a little earlier than buyers did a few years ago. It's a good thing: it gets expectations and compensation in writing up front. Choose an agent who knows your specific market: the difference between a Timonium search and an Annapolis waterfront search is real. Step 3: Search for homes on Bright MLS Maryland agents and buyers search Bright MLS, the Mid-Atlantic multiple listing service: the same data source behind the state's official market stats. Expect to move quickly: the statewide median time on market was just 11 days in June 2026, with 2.9 months of supply, meaning well-priced homes attract offers fast (Maryland REALTORS®). Come pre-approved and ready to decide. In a market this tight, the buyers who tour promptly and know their must-haves versus nice-to-haves are the ones who win the home. Our community guides, like Annapolis and Towson, help you narrow to the right neighborhoods first. Step 4: Make an offer When you find the home, you'll write your offer on the Maryland Residential Contract of Sale, the standard state form. Your key protections come as separate addenda: a financing contingency (you can back out if your loan falls through), an inspection contingency, and often an appraisal contingency. Your agent negotiates price, closing date, contingencies, and any seller help, and in a competitive situation, the terms can matter as much as the number. Step 5: Inspection and appraisal Once your offer is accepted, two checks happen in parallel. A home inspection lets you understand the property's condition and, under your inspection contingency, renegotiate or walk away if something major turns up. Your lender orders an appraisal to confirm the home is worth what you're paying. If the appraisal comes in low, an appraisal contingency gives you room to renegotiate. This is also when you'll firm up homeowners insurance. Step 6: Financing and underwriting With the home under contract, your lender moves from pre-approval to full underwriting: verifying income, assets, employment, and the appraisal. Respond fast to document requests; slow paperwork is the most common cause of delayed closings. If you're a first-time buyer, this is where Maryland Mortgage Program down-payment assistance and programs like FHA and VA get finalized. Step 7: Closing and keys A financed purchase in Maryland typically closes about 30 to 45 days after you're under contract. Nationally, the average purchase loan closed in 36.8 days in March 2026 (ICE Mortgage Technology). At closing (settlement), you'll sign your loan documents, pay your closing costs, and receive the keys. One Maryland-specific perk for first-timers: when you're a first-time Maryland buyer, the seller generally pays the state and county transfer and recordation taxes on your principal residence unless the contract says otherwise (Md. Real Property §14-104). For the full breakdown of who pays what, see our Maryland transfer tax guide. Ready to start? The best first step is a conversation. Connect with a Next Step Realty agent and we'll get you pre-approved with a trusted Maryland lender, map your target neighborhoods, and guide you from offer to keys. Explore our buyer resources for guides on financing, first-time programs, and closing costs. Frequently Asked Questions How long does it take to buy a house in Maryland? The search can be fast. The median Maryland home went under contract in 11 days in June 2026 (Maryland REALTORS®), and a financed purchase then typically closes in about 30 to 45 days (the national average was 36.8 days in March 2026, per ICE Mortgage Technology). Add pre-approval time up front, and most buyers go from starting out to keys in roughly two to three months. Do I have to sign an agreement with an agent before seeing homes in Maryland? Yes. Since August 17, 2024, an agent must have a signed written buyer agreement before touring a home with you, including virtual tours (NAR). The agreement discloses how the agent is compensated, which is negotiable. What contingencies should a Maryland offer include? Most Maryland offers on the Residential Contract of Sale include a financing contingency, a home inspection contingency, and often an appraisal contingency. These let you renegotiate or withdraw if your loan, the inspection, or the appraisal turns up a problem. Your agent tailors them to the situation. Who pays closing costs in Maryland? Both sides pay some. Notably, when the buyer is a first-time Maryland buyer, the seller generally pays the state and county transfer and recordation taxes on a principal residence unless negotiated otherwise (Md. Real Property §14-104). Buyers still cover lender fees, title insurance, and prepaid items. How much do I need to buy a home in Maryland? Down payments start low: 0% for eligible VA buyers, 3% conventional, and 3.5% FHA, and Maryland's Mortgage Program can add down-payment assistance on top (VA; Fannie Mae; HUD; Maryland DHCD). Getting pre-approved is the fastest way to see your real budget. Sources National Association of REALTORS®, "What the NAR Settlement Means for Home Buyers and Sellers" (written buyer agreement, eff. Aug 17, 2024), retrieved 2026-08-10, https://www.nar.realtor/the-facts/what-the-nar-settlement-means-for-home-buyers-and-sellers Maryland REALTORS®, Housing Statistics June 2026 (median 11 days, 2.9 months supply), retrieved 2026-08-10, https://www.mdrealtor.org/HousingStats Bright MLS, retrieved 2026-08-10, https://www.brightmls.com/ Md. Code, Real Property §14-104 (first-time buyer transfer/recordation tax), retrieved 2026-08-10, https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=grp§ion=14-104 Freddie Mac PMMS, 30-yr rate 6.66% (week of Aug 27, 2026), retrieved 2026-08-31, https://www.freddiemac.com/pmms Maryland DHCD, Maryland Mortgage Program Down Payment Assistance, retrieved 2026-08-10, https://mmp.maryland.gov/home-loans/down-payment-assistance ICE Mortgage Technology, Mortgage Monitor, May 2026, retrieved 2026-09-30, https://mortgagetech.ice.com/resources/data-reports/may-2026-mortgage-monitor { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [ {"@type":"Question","name":"How long does it take to buy a house in Maryland?","acceptedAnswer":{"@type":"Answer","text":"The search can be fast. The median Maryland home went under contract in 11 days in June 2026 (Maryland REALTORS), and a financed purchase then typically closes in about 30 to 45 days (the national average was 36.8 days in March 2026, per ICE Mortgage Technology). Most buyers go from starting out to keys in roughly two to three months."}}, {"@type":"Question","name":"Do I have to sign an agreement with an agent before seeing homes in Maryland?","acceptedAnswer":{"@type":"Answer","text":"Yes. Since August 17, 2024, an agent must have a signed written buyer agreement before touring a home with you, including virtual tours (NAR). The agreement discloses how the agent is compensated, which is negotiable."}}, {"@type":"Question","name":"What contingencies should a Maryland offer include?","acceptedAnswer":{"@type":"Answer","text":"Most Maryland offers on the Residential Contract of Sale include a financing contingency, a home inspection contingency, and often an appraisal contingency. These let you renegotiate or withdraw if your loan, the inspection, or the appraisal turns up a problem."}}, {"@type":"Question","name":"Who pays closing costs in Maryland?","acceptedAnswer":{"@type":"Answer","text":"Both sides pay some. Notably, when the buyer is a first-time Maryland buyer, the seller generally pays the state and county transfer and recordation taxes on a principal residence unless negotiated otherwise (Md. Real Property 14-104). Buyers still cover lender fees, title insurance, and prepaid items."}}, {"@type":"Question","name":"How much do I need to buy a home in Maryland?","acceptedAnswer":{"@type":"Answer","text":"Down payments start low: 0% for eligible VA buyers, 3% conventional, and 3.5% FHA, and Maryland's Mortgage Program can add down-payment assistance on top (VA; Fannie Mae; HUD; Maryland DHCD). Getting pre-approved is the fastest way to see your real budget."}} ] }

Catonsville is one of Baltimore County's best-kept secrets: a walkable, tree-lined town with a historic main street, a nationally known state park at its edge, and a university in its backyard. Locals call it "Music City Maryland." If you're weighing a move, here's what to know about the housing market, the schools, and the lifestyle in 2026. Key Takeaways Catonsville sits in Baltimore County, where the median sale price was $400,000 with just 8 days on market in June 2026 (Maryland REALTORS®). It's a college town (UMBC and CCBC Catonsville anchor the area) with a walkable historic main street along Frederick Road. Officially "Music City Maryland," proclaimed by the Maryland General Assembly in 2002 for its music scene. Easy access: right at the I-695 / I-95 interchange, about 9 miles from BWI, with MARC commuter rail toward Washington. What's it like to live in Catonsville? Catonsville blends historic charm with everyday convenience. Its walkable core along Frederick Road is lined with local shops, restaurants, and music venues, while the surrounding neighborhoods offer classic homes on leafy streets. Add a major state park on one side and a university on the other, and you get a community that feels both established and lively, with quick access to Baltimore. The Catonsville housing market in 2026 Catonsville sits in Baltimore County, and the county's numbers tell the story: a $400,000 median sale price with a fast 8-day median time on market in June 2026 (Maryland REALTORS®). That's meaningfully more affordable than higher-cost neighbors like Howard County ($675,850) while still moving quickly, a sign of steady demand. Baltimore County vs. Maryland, June 2026 Median price, Balt. Co.$400,000 Median price, Maryland$465,000 Days on market, Balt. Co.8 days Days on market, Maryland11 days Source: Maryland REALTORS®, Housing Statistics, June 2026 (data via Bright MLS). Within Catonsville, prices vary by neighborhood and home type: from historic homes near the town center to mid-century and newer construction on the outskirts. Because online estimates and county-wide medians can't price your specific block, the right number for your search is a live Bright MLS analysis of recent comparable sales. Our Maryland market update puts the county figures in statewide context. Schools and colleges Catonsville is served by Baltimore County Public Schools, and Catonsville High School ranks among the state's stronger public high schools: roughly #61 in Maryland in U.S. News's 2026 rankings (U.S. News). As always, confirm your exact school zone by address before you offer. What sets Catonsville apart is higher education. The University of Maryland, Baltimore County (UMBC) sits just outside the Beltway adjacent to town, and CCBC Catonsville (Community College of Baltimore County) is right in the community. That college presence brings culture, events, and a steady, educated population to the area. "Music City Maryland" and historic Frederick Road Catonsville earned its nickname honestly: the Maryland General Assembly officially proclaimed it "Music City Maryland" in 2002, recognizing the music stores, venues, and schools clustered along its main street (Catonsville Arts & Entertainment District). That main street is Frederick Road (Maryland Route 144), the historic spine of Old Catonsville, and today a walkable stretch of independent restaurants, shops, and live music that anchors community life. Parks and the outdoors One of Catonsville's biggest draws sits right on its doorstep: Patapsco Valley State Park, which spans more than 16,000 acres along the Patapsco River with hiking, biking, and trails. The park's Hilton Area is in Catonsville itself. For buyers who want green space and recreation without leaving the metro, it's hard to beat. What's the commute from Catonsville? Location is one of Catonsville's strongest cards. It sits right at the interchange of I-695 (the Baltimore Beltway) and I-95, with US-40 (Baltimore National Pike) running through town, and BWI Airport about 9 miles away. Washington, D.C., is roughly 35 miles south, reachable by car or by MARC commuter rail. Approximate off-peak drive times run about 15–20 minutes to downtown Baltimore and BWI, and 45–60 minutes to Washington, though I-95 and the Beltway swing heavily at rush hour, so test-drive your actual commute before you commit. Catonsville at a glance Catonsville offers walkability, an established community, and value inside the Baltimore metro. Its demographics reflect a settled, well-established town: roughly 43,000 residents, a median household income around $114,000, and a homeownership rate near 70% (American Community Survey 5-year estimates). It combines historic character, schools and colleges, parks close by, and quick Beltway access, at prices below the top tier of the region. Ready to explore Catonsville? Whether you're drawn to a historic home near the town center or a quiet street near the park, the right move starts with real data for your target neighborhood and school zone. Connect with a Next Step Realty agent for a live Bright MLS market analysis, verified school zoning, and a home search matched to your budget. Browse our buyer resources to get started. Frequently Asked Questions How much do homes cost in Catonsville, MD? Catonsville is in Baltimore County, where the median sale price was $400,000 with an 8-day median time on market in June 2026 (Maryland REALTORS®). Prices within Catonsville vary by neighborhood and home type, so a live comparable-sales analysis is the best way to price a specific home. Is Catonsville a good place to live? Many buyers think so. It offers a walkable historic main street, strong Baltimore County schools, the UMBC and CCBC campuses, and Patapsco Valley State Park, all with easy Beltway and BWI access and prices below higher-cost neighbors like Howard County. Why is Catonsville called "Music City Maryland"? The Maryland General Assembly officially proclaimed Catonsville "Music City Maryland" in 2002, recognizing the concentration of music stores, venues, and schools along Frederick Road (Catonsville Arts & Entertainment District). Live music is still a big part of the town's identity. What is the commute like from Catonsville? Catonsville sits at the I-695 (Beltway) and I-95 interchange, with US-40 through town and BWI about 9 miles away. Approximate off-peak times run 15–20 minutes to downtown Baltimore and BWI and 45–60 minutes to Washington, D.C., which is also reachable by MARC rail. Rush-hour traffic varies, so test your route. What schools serve Catonsville? Catonsville is part of Baltimore County Public Schools; Catonsville High School ranks around #61 in Maryland in U.S. News's 2026 rankings. The town is also home to CCBC Catonsville and sits next to UMBC. Confirm your exact school zone by home address before making an offer. Sources Maryland REALTORS®, Housing Statistics, June 2026 (Baltimore County median $400,000 / 8 days; data via Bright MLS), retrieved 2026-08-10, https://www.mdrealtor.org/News-and-Events/Housing-Statistics U.S. News, Catonsville High School (2026 rankings), retrieved 2026-08-10, https://www.usnews.com/education/best-high-schools/maryland/districts/baltimore-county-public-schools/catonsville-high-school-9045 University of Maryland, Baltimore County (UMBC), Directions/Visit, retrieved 2026-08-10, https://umbc.edu/about/visit/directions/ Catonsville Arts & Entertainment District, "Music City Maryland" (2002 proclamation), retrieved 2026-08-10, https://www.catonsvilleartsdistrict.org/music-city-maryland Maryland DNR, Patapsco Valley State Park, retrieved 2026-08-10, https://dnr.maryland.gov/publiclands/pages/central/patapsco.aspx U.S. Census Bureau, American Community Survey 5-year estimates (Catonsville CDP, via Data USA), retrieved 2026-08-10, https://datausa.io/profile/geo/catonsville-md { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [ {"@type":"Question","name":"How much do homes cost in Catonsville, MD?","acceptedAnswer":{"@type":"Answer","text":"Catonsville is in Baltimore County, where the median sale price was $400,000 with an 8-day median time on market in June 2026 (Maryland REALTORS). Prices within Catonsville vary by neighborhood and home type, so a live comparable-sales analysis is the best way to price a specific home."}}, {"@type":"Question","name":"Is Catonsville a good place to live?","acceptedAnswer":{"@type":"Answer","text":"Many buyers think so. It offers a walkable historic main street, strong Baltimore County schools, the UMBC and CCBC campuses, and Patapsco Valley State Park, all with easy Beltway and BWI access and prices below higher-cost neighbors like Howard County."}}, {"@type":"Question","name":"Why is Catonsville called Music City Maryland?","acceptedAnswer":{"@type":"Answer","text":"The Maryland General Assembly officially proclaimed Catonsville 'Music City Maryland' in 2002, recognizing the concentration of music stores, venues, and schools along Frederick Road (Catonsville Arts & Entertainment District)."}}, {"@type":"Question","name":"What is the commute like from Catonsville?","acceptedAnswer":{"@type":"Answer","text":"Catonsville sits at the I-695 (Beltway) and I-95 interchange, with US-40 through town and BWI about 9 miles away. Approximate off-peak times run 15 to 20 minutes to downtown Baltimore and BWI and 45 to 60 minutes to Washington, D.C., which is also reachable by MARC rail."}}, {"@type":"Question","name":"What schools serve Catonsville?","acceptedAnswer":{"@type":"Answer","text":"Catonsville is part of Baltimore County Public Schools; Catonsville High School ranks around #61 in Maryland in U.S. News's 2026 rankings. The town is also home to CCBC Catonsville and sits next to UMBC. Confirm your exact school zone by home address before making an offer."}} ] }

Most Maryland buyers can choose among three loan types (FHA, conventional, and VA), and the right one usually comes down to your down payment, your credit, and whether you've served. Each has real trade-offs on mortgage insurance and cost. Here's how they compare in 2026, plus the Maryland down-payment help that layers on top of all three. Key Takeaways Down payments: VA allows 0%, conventional as low as 3%, FHA 3.5% (HUD, Fannie Mae, VA). Mortgage insurance is the deciding factor: conventional PMI cancels at 20% equity; FHA insurance often lasts the life of the loan; VA has no monthly mortgage insurance. In 2026, Maryland's conforming loan limit is $832,750 (up to $1,249,125 in high-cost Montgomery County); FHA runs from a $541,287 floor to a $1,249,125 ceiling. Maryland's Mortgage Program adds down-payment assistance on top of any of these: a $6,000 deferred loan or a percentage of your mortgage. FHA vs conventional vs VA: the quick comparison The fastest way to choose is to line up the three side by side. VA wins on cost if you're eligible; conventional wins long-term if you can put more down and have solid credit; FHA is the most forgiving on credit. FHAConventionalVA Min. down payment3.5%3%0% Min. credit score580 (500 with 10% down)~620No VA-set minimum Mortgage insurance1.75% upfront + ~0.55%/yr, often for the life of the loanPMI, cancellable at ~80% LTVNone (one-time funding fee) Best forLower credit / smaller down paymentStrong credit, avoiding long-term MIEligible veterans & service members Sources: HUD (FHA), Fannie Mae (conventional), U.S. Dept. of Veterans Affairs (VA), 2026. FHA loans in Maryland FHA is the most accessible option on credit. You can put down as little as 3.5% with a credit score of 580 or higher, and scores from 500–579 qualify with 10% down (HUD). The trade-off is mortgage insurance: FHA charges a 1.75% upfront premium plus an annual premium of about 0.55% (HUD Mortgagee Letter 2023-05). The catch most buyers miss: at the minimum 3.5% down, that annual FHA insurance generally lasts the life of the loan; it doesn't fall off at 20% equity the way conventional PMI does (HUD). Many FHA borrowers later refinance into a conventional loan once they've built equity, precisely to shed that premium. Conventional loans Conventional loans reward stronger credit. Through programs like Fannie Mae's HomeReady, you can put down as little as 3% (Fannie Mae), and you'll generally want a credit score around 620 or higher to qualify (CFPB). The big advantage is mortgage insurance you can get rid of. Conventional PMI can be requested for cancellation at about 80% loan-to-value and automatically terminates at 78% (Fannie Mae). Over a few years of payments and appreciation in Maryland's market, that can save a meaningful amount versus a life-of-loan premium. VA loans If you're an eligible veteran, active-duty service member, or qualifying surviving spouse, the VA loan is usually the strongest option in the country: $0 down and no monthly mortgage insurance (VA). Instead of ongoing insurance, the VA charges a one-time funding fee (about 2.15% on a first use with no down payment, 3.3% on later uses), and that fee is waived entirely for veterans with a service-connected disability. With the Naval Academy, Fort Meade, and Aberdeen all in the state, VA loans are especially common across Maryland; we cover them in depth in our Maryland VA loan guide. What are the 2026 loan limits in Maryland? Loan limits set how much you can borrow under each program, and they reset every January. For 2026, the baseline conforming limit is $832,750 for a one-unit home, rising to $1,249,125 in high-cost areas, which in Maryland includes DC-adjacent Montgomery County (FHFA). FHA limits run from a $541,287 floor to a $1,249,125 ceiling depending on the county (HUD). 2026 Maryland loan limits (one-unit home) FHA floor$541,287 Conforming baseline$832,750 High-cost ceiling (Montgomery Co.)$1,249,125 Sources: FHFA (conforming) and HUD (FHA), 2026. Confirm your county's exact FHA limit at closing. Because Maryland median prices sit well under these limits, most buyers have room under all three programs. The statewide median was $465,000 in June 2026 (Maryland REALTORS®). For context, the 30-year fixed rate averaged 6.66% the week of Aug 27, 2026 (Freddie Mac); rates move weekly, so confirm the current number when you lock. Stack Maryland down-payment help on top Whichever loan you choose, Maryland's Mortgage Program (MMP) can layer down-payment assistance on top through the Department of Housing (Maryland DHCD). Options include a flat $6,000 deferred, zero-interest second-lien loan (1st Time Advantage / Flex), or a 3%, 4%, or 5% assistance loan sized to your first mortgage, plus a Partner Match of up to $2,500. The assistance is repaid only when you sell, refinance, or pay off the home. Our Maryland Mortgage Program guide and first-time buyer programs guide walk through eligibility. So which loan is right for you? A simple rule of thumb: if you're a veteran, start with VA; zero down and no monthly insurance is hard to beat. If your credit is strong and you can put a bit more down, conventional usually wins over time because you can cancel PMI. If your credit is still building, FHA opens the door with a lower score, and you can refinance out of the mortgage insurance later. The best move is to get pre-approved and compare real numbers for your situation: the monthly payment, not just the rate. Find your best-fit loan Talk with a Next Step Realty agent and we'll connect you with a trusted Maryland lender to compare FHA, conventional, and VA side by side for your budget, and check whether Maryland down-payment assistance fits. Explore our financing resources to get started. Frequently Asked Questions Is an FHA or conventional loan better in Maryland? It depends on your credit and down payment. FHA allows a 580 credit score and 3.5% down but its mortgage insurance often lasts the life of the loan. Conventional needs about a 620 score and 3% down, but the PMI cancels at 20% equity, cheaper long-term if you qualify (HUD; Fannie Mae, 2026). How much do you need to put down on a house in Maryland? Less than most people think. VA loans allow 0% down for eligible buyers, conventional loans start at 3%, and FHA at 3.5% (VA; Fannie Mae; HUD, 2026). Maryland's Mortgage Program can add a $6,000 or percentage-based down-payment assistance loan on top. What are the 2026 loan limits in Maryland? The 2026 conforming loan limit is $832,750 for a one-unit home, up to $1,249,125 in high-cost Montgomery County (FHFA). FHA limits range from a $541,287 floor to a $1,249,125 ceiling by county (HUD). Maryland median prices sit well under these, so most buyers have room. Do VA loans have mortgage insurance? No. VA loans require no monthly mortgage insurance (VA). Instead there's a one-time funding fee, about 2.15% on a first use with no down payment, which is waived for veterans with a service-connected disability. Can you use down-payment assistance with an FHA or VA loan in Maryland? Yes. Maryland's Mortgage Program down-payment assistance layers on top of FHA, VA, or conventional first mortgages (Maryland DHCD). It's a deferred, zero-interest loan repaid only when you sell, refinance, or pay off the home. Sources HUD (FHA), minimum down payment, credit score, and MIP structure, retrieved 2026-08-10, https://answers.hud.gov/FHA/s/article/What-is-the-minimum-down-payment-requirement-for-FHA HUD Mortgagee Letter 2023-05, FHA upfront and annual mortgage insurance premium rates, retrieved 2026-09-30, https://www.hud.gov/sites/dfiles/OCHCO/documents/2023-05hsgml.pdf HUD No. 25-145, 2026 FHA loan limits, retrieved 2026-08-10, https://www.hud.gov/news/hud-no-25-145 Fannie Mae, HomeReady 3% down + cancellable PMI, retrieved 2026-08-10, https://singlefamily.fanniemae.com/originating-underwriting/mortgage-products/homeready-mortgage U.S. Dept. of Veterans Affairs, VA funding fee, no monthly MI, retrieved 2026-08-10, https://www.va.gov/housing-assistance/home-loans/funding-fee-and-closing-costs/ FHFA, 2026 conforming loan limits, retrieved 2026-08-10, https://www.fhfa.gov/news/news-release/fhfa-announces-conforming-loan-limit-values-for-2026 CFPB, credit-score guidance, retrieved 2026-08-10, https://www.consumerfinance.gov/owning-a-home/prepare/get-your-money-situation-in-order/ Freddie Mac PMMS, 30-yr rate 6.66% (week of Aug 27, 2026), retrieved 2026-08-31, https://www.freddiemac.com/pmms Maryland DHCD, Maryland Mortgage Program Down Payment Assistance, retrieved 2026-08-10, https://mmp.maryland.gov/home-loans/down-payment-assistance Maryland REALTORS®, Housing Statistics June 2026, retrieved 2026-08-10, https://www.mdrealtor.org/HousingStats { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [ {"@type":"Question","name":"Is an FHA or conventional loan better in Maryland?","acceptedAnswer":{"@type":"Answer","text":"It depends on your credit and down payment. FHA allows a 580 credit score and 3.5% down but its mortgage insurance often lasts the life of the loan. Conventional needs about a 620 score and 3% down, but the PMI cancels at 20% equity, cheaper long-term if you qualify (HUD; Fannie Mae, 2026)."}}, {"@type":"Question","name":"How much do you need to put down on a house in Maryland?","acceptedAnswer":{"@type":"Answer","text":"VA loans allow 0% down for eligible buyers, conventional loans start at 3%, and FHA at 3.5% (VA; Fannie Mae; HUD, 2026). Maryland's Mortgage Program can add a $6,000 or percentage-based down-payment assistance loan on top."}}, {"@type":"Question","name":"What are the 2026 loan limits in Maryland?","acceptedAnswer":{"@type":"Answer","text":"The 2026 conforming loan limit is $832,750 for a one-unit home, up to $1,249,125 in high-cost Montgomery County (FHFA). FHA limits range from a $541,287 floor to a $1,249,125 ceiling by county (HUD)."}}, {"@type":"Question","name":"Do VA loans have mortgage insurance?","acceptedAnswer":{"@type":"Answer","text":"No. VA loans require no monthly mortgage insurance (VA). Instead there's a one-time funding fee, about 2.15% on a first use with no down payment, which is waived for veterans with a service-connected disability."}}, {"@type":"Question","name":"Can you use down-payment assistance with an FHA or VA loan in Maryland?","acceptedAnswer":{"@type":"Answer","text":"Yes. Maryland's Mortgage Program down-payment assistance layers on top of FHA, VA, or conventional first mortgages (Maryland DHCD). It's a deferred, zero-interest loan repaid only when you sell, refinance, or pay off the home."}} ] }