November 2019 Market Report Hey Hey Baltimore! As we enter the final month of this year and decade, lets zero in on what happened in November in our residential real estate market. Real estate🏠 continues to be steady and a lot of the numbers remained the same as the October 2019 market. Baltimore City: Last month the residential real estate market had 1,029 active listings compared to 1,287 in October. As we get closer to the end of the year and closer to the winter months, its not surprising that the number of homes that sold dropped 8.6% from 726 to 663. In addition, the days on market or the number of days it took on average for a home to sell, stayed almost the same. It was 55 days in October and last month it was 56 days. Here is what is interesting – there were less houses for sale in the market and they took about the same amount of time to sell. But, the homes that did sell, sold for over 6% more on average! In October the average sale price was $177,000 in November it jumped to $188,000.〽 Inventory is down significantly and the months of inventory supply (MIS) is at 1.1%, so this may explain why prices spiked. ️ Baltimore County: Inventory supply here also continued to trend down. But we saw the average sale price jump up a little from $290,000 to $295,000. As for the amount of active listings, this number dropped to 997 from 1265 a 26% decrease. Another key indicator, the day on market (DOM) stayed the exact same at 42 days. All of these changes affect home values,📈 including yours. If you want to know the new value of your home, click below for an instant home evaluation👉http://bit.ly/2tXvE6M Each month we feature a neighborhood and take a closer look at the numbers to see how they compare to the city or county as a whole. As was mentioned earlier, real estate trends very greatly by neighborhood so it always interesting to see what the numbers say. This month we are focusing on Hanlon MD. This is a Baltimore city neighborhood in zip codes 21216. Here is a detailed look at the Hanlon neighborhood market report. If you would like your neighborhood to be featured next, just drop your request in the comments below. Just for you: Sellers Guide: Click here to sign up to receive our free home Seller’s Guide. If you would like to have a customized Market report for your neighborhood sent to you monthly, Text your name and address to 443-929-0703.
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