Baltimore Real Estate Prices Highest October Since 2007
Greater Baltimore Market Summary
Real Estate Statistics you can't ignore!
Greater Baltimore median sales price of approximately $255,000 was up 8% from last year, and at the highest October level since the great recession.
The sales volume across the greater Baltimore area was just over 900 million, up over 10% from last year.
October closed sales of 3,060 transactions were up over 3% compared to last year. This was the highest level of October sales recorded since 2005.
The number of new listings dropped 9.8% to 4,327 compared to last year. Showing a stronger sellers market with a drop in inventory/homes for sale.
The number of active listings declined by just under a staggering 15% to 11,958, marking 14 months of declining inventory levels. Again showing a signs of a possible on coming sellers market.
The average percentage of original list price received at sale in October was 94.8%, the highest October level in a decade.
The median days-on-market was 40 days, down from 47 days last year.
Baltimore Market Conclusion
Our greater Baltimore Market (Howard County, Baltimore County, Harford County, Howard County, and Baltimore City) is showing signs of true market growth that has not been seen in over a decade. What is driving this growth? Is it the change in our president? or Is it a still low interest rate environment powered by he central bank? or Is it our areas citizens that have been working harder since the great recession to make a better life for themselves and our community? We are not 100% sure, but one thing is for certain; the out look of our local housing market and economy are showing strong signs of forward motion.