BALTIMORE, MD Real Estate Market Trends & Analysis
Emerick A. Peace
B
altimore is a city in Maryland that looms large in American history, having been occupied as early as the 15th century and remains one of the largest colonial-era cities in America. A few years back, Baltimore was thought of as a distant suburb of Washington, D.C, and an industrial city on the decline. However, most recently, the city is experiencing a turnaround that is presenting a unique opportunity for real estate buyers. The Baltimore 2020 real estate market has featured various properties for buyers looking for a place to call home and investors looking to flip and invest in real estate. Let’s have a look at the recent Baltimore housing market trends.
HOME VALUES
According to Zillow Home Index Value, the typical home value of homes in Baltimore was $156,106, as of September 30 (This value is seasonally adjusted and only includes the middle price tier of homes). The value of home values in Baltimore as of September 30 represents a 3.5% increase from last year. Meanwhile, Zillow predicts that the home value will increase by 6.6% by the same time next year in Baltimore.
LIST PRICE
According to Movoto, the median list price in Baltimore in October was $208,099, representing a less than 1% increase from WWW.THEPOWERISNOW.COM
September, which was $204,950. Moreover, the median list price per square foot in Baltimore was $157 in September and $158 in October. Moreover, distressed properties such as foreclosures and short sales in October maintained the same position compared to September, according to Movoto.
SINGLE-FAMILY UNITS
The total inventory of single-family units in Baltimore increased by 9% in October from September and decreased by 56% from a year ago. Despite the increase in inventory in October, it can still not meet the current housing demand in Baltimore.
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