Published October 18, 2026 in Market Update

Higher rates are showing up most in Harbor East

By Erin Kelly

Real estate, Fells Point, Canton & Harbor East

Realtor.com reported that mortgage rates climbed above 7% for the first time since January 2025. That matters most where buyers are financing large condo purchases. In this market, that means Harbor East. The numbers for the three months ending August 31, 2026 tell a clear story.

Harbor East: more supply, slower sales

The Real Estate Data Aggregator counted 31 homes sold in Harbor East during the period. That is down 29.5% from the same months a year before. At the same time, 94 new listings came to market, up 22.1% year over year. More homes coming in, fewer going out.

Ten-plus months of supply means buyers have room to compare buildings, condo fees, reserve funds, views and terms. That is a real shift. A year ago, Harbor East sellers had less competition. Right now, pricing and how a unit is positioned matter more than they did.

One bright spot: the Real Estate Data Aggregator shows 47 pending sales in Harbor East, up 6.8% from a year ago. And 27.7% of homes went under contract within two weeks of listing, up 2.7 points. Well-priced homes are still moving.

Canton and Fells Point: a different picture

The Real Estate Data Aggregator counted 255 homes sold in Canton during the same period, up 2% year over year. The median sale price came in at $325,750, up 3.4%. Homes sat on the market a median of 34 days, just one day longer than a year before.

Fells Point was even tighter. The Real Estate Data Aggregator counted 65 homes sold, with a median sale price of $340,000, up 5.4%. Median days on market: 33, unchanged from a year ago. Nearly 34% of homes sold above list price, up 3 points from last year.

Why rates are hitting Harbor East hardest

CNBC reported the average 30-year fixed rate at 7.50% as of October 14, 2026. Realtor.com noted rates rose nearly 40 basis points over the four weeks before September 30. CNBC also reported that the adjustable-rate mortgage share of demand hit 10.5%, the highest in a year. More buyers are looking for ways around the fixed rate.

Harbor East is the most condo-heavy of the three markets. Higher rates raise monthly payments most on larger loan balances. That slows decisions. Canton and Fells Point carry more rowhomes at lower price points, and those buyers are still acting.

The combined market is still moving

Across all three neighborhoods, the Real Estate Data Aggregator counted 351 homes sold, 543 new listings, and 381 pending sales, up 7.3% from a year ago. Sales overall were down 6.4%, but pending sales are climbing. That suggests buyers are still in the market. They are just taking longer to decide, especially in Harbor East.

What this means if you are selling

In Canton and Fells Point, well-priced homes are still going quickly. The Real Estate Data Aggregator shows 41.2% of Canton homes went under contract within two weeks, and 43.3% in Fells Point did the same. Price it right and you will not wait long.

In Harbor East, 10.8 months of supply means your competition is real. Buyers are comparing buildings on fees, reserves, amenities and views. Pricing needs to reflect what is actually selling, not what was selling a year ago. The median sale price is up 17.4% year over year, but that figure comes with only 31 sales. A small sample can move a median. Verify what your specific building and unit type is doing before you pick a number.

What this means if you are buying

In Harbor East, you have time. With 75 median days on market and 109 homes for sale, you can compare buildings carefully. Look at condo fees, reserve funding, flood zone status and historic district rules before you commit. Those details vary building by building.

In Canton and Fells Point, the market is tighter. Canton had 300 homes for sale, but 255 sold in just three months. If you find the right block, move with a clear head but do not wait for a better market that may not come.

These are neighborhood-level numbers. One block, one building or one floor plan can read very differently from the ZIP code as a whole. If you want to know what your specific address looks like against what actually sold, reach out.