The greater Baltimore Market is still undergoing reduced inventory, causing home prices to keep rising. This market is absolutely crazy and the seller are in control. It is one of the most extreme seller’s market we have seen in recent times. If you are a buyer and want to enter this market, prepared to be motivated but flexible, patient but willing to move quickly. The old adage of “let me sleep on it” can cost you the house that you loved but was was too slow to make a decision. I tell my buyers before we look at any house, to be prepared to put in an offer if it checks enough of their boxes. Even if it means that we have only seen 1 or 2 homes that they like. The good ones go fast and for top dollar.
Prices in Baltimore’s housing market are escalating quickly, and multiple offers are very likely. So what about new construction? Many are going up but builders are typically 6 months to 1 year out of selling completed homes.
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2021 Housing Market Values
The average home in greater Baltimore is selling for around $272,000 and climbing.
Sale Price, Median
2021 Listing Volume
This is for Baltimore and includes only single family properties, rownhomes and condos.
|Month||Active Listings, $ Volume|
These are the available single family properties available for sale.
|Month||Active Listings, Number of|
Close to List Price Ratio
Properties in Baltimore are frequently selling for over the list price and averaging 100%. Buyers don’t have as much room to negotiate in today’s market.
|Month||Close Price to List Price Ratio|
Days to Sell
|Month||Days to Sell, Median|
Price per Square Foot
*single family homes in Baltimore
|Month||List Price by SqFt Ratio|
Here are the average home sales for Baltimore City MD. for April. The greater Baltimore housing market is currently a seller’s market.
|Property Subtype||Sale Price, Median|
|Single Family Residential||$287,000|
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 today.
Baltimore Real Estate Market
Is it a Good Time To Sell Your House In Baltimore
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 Baltimore 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 Real Estate Market Going To Crash in 2021?
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 Baltimore?
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 Baltimore?
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 Housing Predictions?
2021 should see a continued increase in home prices, limited inventory, and fast-selling homes. While some are predicting a switch to a buyers’ market based on the delinquencies in mortgages and the increase in forbearances, it’s hard to say if, or when that will happen.