Baltimore Real Estate Market Report-September 2019 ~ Baltimore Living by Makeda Phillander

September 2019 Market Report

Hey Baltimore, real estate

continues to be steady! When reviewing the September numbers we see an interesting pattern occurring. Over the last 3 months we see that both in the county and the city, there continues to be a seller’s market. Every month there is less and less inventory supply.

Baltimore City:

Inventory is still more than in the county, but has gone down ⬇️ 2.9 months to 2.5 months. This indicator simply means that if everything stated the same, that is, no new houses were added to the market, it would take 2.5 months for all the houses or supply to be totally depleted. We use this number to measure if we are in a seller’s, buyers or balanced ⚖ market Currently we are in a seller’s market.

The time

it took houses to sell on average went up by 12 days and the average sale price went down from 183K to 170K. That is a decrease of over 13 thousand dollars on average, which is about the same as last month! If you are thinking about purchasing a home in the city now could be the right time.!

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The number of homes that did sell went down from 772 in August to 623 in September. We also saw that there were 1350 Active listings, up from the 1327 number in August. ✅

Baltimore County:

As was mentioned earlier, inventory supply went down from 1.8 to 1.6 months, so the county is now even more in a Sellers’s market.

August’s active listings were 1331, in September they dropped to 1324, but here is what is interesting, the total number of houses sold dropped significantly from 1001 to 729!

That is more than a 29% difference! This inventory squeeze has also resulted in the days on market of houses going up from 37 (in August) to 42 last month.

Also of note is that the average sale price fell from 310K to 298K. So just like in the City, this may be the time to purchase as we see that the average purchase prices is sliding down.

All of these changes affect home values,