October 2019 Market Report
Hey Baltimore, another month is in the books and real estate🏠 continues to be steady. Here’s what happened in our October 2019 real estate market.
Baltimore City:
Compared to September, the ⌛️time it took a home to sell went up from 49 days to 57 and the average sales price also rose from $166,000 to $177,000. That’s a $10,000 jump in price despite that fact that there were less houses for sale in October compared to September. The numbers were 1317 and 1287 respectively.
Home sales went up slightly from 716 to 726. The months of inventory supply had also gone down slightly but we are still experiencing a buyer’s market overall. Although this is true overall for the city, real estate is hyper local so there are some neighborhoods in the city were the reverse is true. Contact me📲if you want to know more details about your neighborhood specifically.
Baltimore County:
For those who may be considering a 🍁fall sale, we saw the average sale price drop a little from $297,000 to $290,000 but that number is the same as it was in July. This means that on average sellers got the same amount in October as they got in July in terms of selling price. There was a spike in the average sales price in August and September, but now we see the numbers leveling off. What is interesting to note is that back in July sellers waited 64 days on average to get that sale, but last month the wait was about 42 days, which was down from 46 days in September.
We also saw that the number of 🏡homes listed for sale was almost 👯 identical for the last two months, 1265 in October and 1264 in September. Of the 1265 houses for sale, 818 or 64% of them did sell by the end of the month. For September it was 67%.
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 Idelwylde, MD. This is a Baltimore city neighborhood comprised of two zip codes: 21239 and 21212.
Here is a detailed look at the Idelwylde neighborhood market report. If you would like your neighborhood to be featured next, just your request in the comments below.
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Customized Market Report:
All of these changes in the market 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 or 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.
