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Baltimore Metro Real Estate Market Report – February 2024
Hello, Baltimore! What’s the latest housing data for the Baltimore Metro area? The market is heating up and here are the latest stats for the Baltimore Metro area.
I’m Makeda Phillander with Execuhome Realty and Makeda Real Estate.
Here’s what’s happening in THE BALTIMORE METRO AREA.
At the time of this recording, in BALTIMORE City and County, there were 2250 active listings, 1347 pending homes, and 252 sold homes this month thus far.
The average list price was $ 296,398 and the average sold price was $ 260,000.00 and 946 homes were on the market an average of 34 days.
In Randallstown, MD 21133, we have 18 active homes, 22 pending, and 8 homes sold after spending an average of 21 days on the market. The average list price for Homes in Randallstown is 363,210 but the Average Sold Price is 363,927,000. So this shows that sellers are getting above list price for the 1st time since September of 2023, so I’ll be keeping an eye out to see if this continues next month. So tune in next month for that as this will also tell us just how competitive the market is getting.
With these constant shifts, having an experienced agent is essential to help you navigate through your next moves in real estate.
Reach out to my team today for more information, and let’s plan the best strategy for your home.
And again, I’m Makeda Phillander and I can’t wait to give you an exceptional real estate experience.
What’s Your Home Worth?
Home Value Estimate
If you need to sell your house, call or text us at 443-929-0703 for an expert analysis on how much you could get for your home!
Baltimore Metro Real Estate Market
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Is it a Good Time To Sell Your House In the Baltimore metro area?
Due to the seasonal changes we experience here in Baltimore, this does affect the market. . Spring is certainly the most popular time to buy and sell a house in Baltimore.
We see the highest number of real estate listings taken in the Months of April through August and then they taper off. During the winter months we see the least amount of listings and while buyers tend to be few in the market, the ones that are shopping are usually serious buyers. Also homes look stunning during the holidays in Baltimore.
That being said, in winter, we do see a close price to list price ratio drop by 2-3% which suggest that sellers tend to dropping prices towards the end of the year.
Right now though It’s a seller’s market and sellers are seeing top dollar while buyers are benefiting from the extremely low-interest rates. Both buyers and sellers are being rewarded in the current market.
What is the Average Cost For a House In the Baltimore metro MD?
Makeda Phillander REALTOR® reports that a single-family house located in Baltimore County on average has a sales price of $318,000. This is not including Condo sales, Townhome sales, or sales in nearby areas such as Baltimore city and Anne Arundel County.
Is the Baltimore metro Real Estate Market Going To Crash in 2022?
We expect to see a continuation of limited inventory with the influx of new buyers to the market as the interest rates continue to be at an all time low.
In Which Month in Baltimore Does a House Sell The Fastest?
The spring months are generally fast-moving months.
Is it a Buyers or Sellers Market in the Baltimore metro area?
It’s a seller’s market with extremely limited inventory. Buyers should be ready to take action quickly with their very best offer when buying Baltimore Real estate in 2021.
Who Can I Call to Sell My House in the Baltimore Metro area?
Call Makeda Phillander at 443-929-0703 to buy or sell a house in Baltimore. Makeda is one of the top Real Estate agents in Baltimore and has been helping sellers and buyer since 2013.
What are the Baltimore Metro Housing Predictions?
2021 should see a continued increase in home prices, limited inventory, and fast-selling homes. According to a new report from MoxiWorks, a real estate tech firm, home sales should still be robust during the next few months. Company CEO York Baur told Inman news that ultimately he attributed the strong fall sales predictions to several factors including low interest rates and that because the government mortgage forbearance programs are ending, this may “introduce more inventory into the market.” He also explained that unlike in the Great Recession, many homeowners today have significant equity in their homes, so they are more likely to sell their home than to default.