Baltimore, MD Real Estate Market trends

BALTIMORE, MD

Real Estate Market Trends & Analysis

Emerick A. Peace

Baltimore 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 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.

The median list price for single-family units was $259,999 in October, representing a 5% decline from a month ago and an 8% increase from a year ago. This indicates that home prices are still high in Baltimore due to the high demand and low housing inventory in the market.

Total Inventory Median List Price % Distressed Median Home Size Median $/Sqft Source: Movoto.com October 2020 235 $259,999 0% — 154 September 2020 214(+9%) $275,000(-5%) 0% 1,961-100% 155 1 Year Ago 535(-56%) $239,000(+8%_ 0% 1,885-100% 139+10%

CONDO/TOWNHOMES.

The median list price for condo/townhomes was $180,000 in Baltimore in October, representing a less than 1% increase from a month ago and a 12% increase from a year ago. The October condo/townhomes housing inventory in Baltimore decreased by 3% from September and 68% from a year ago.

Total Inventory Median List Price % Distressed Median Home Size Median $/Sqft Source: Movoto.com October 2020 849 $180,000 1% 1,405 161 September 2020 878(-3%) $179,000 1% 1,437(-2%) 158(+1%) 1 Year Ago 2,700(-68%) $160,000(+12%) 1% 1,424(-1%) 142(+13%)

If you’re looking for an affordable location with high potential for return on investment, consider Baltimore. Also, you’re looking for a suitable place to call home, Baltimore is the best option.

Work cited

https://www.zillow.com/baltimore-md/home-values/. https://www.movoto.com/baltimore-md/market-trends/.

Adriana MONTES

The Power Is Now continues to lead the conversation about real estate for home ownership, wealth building, and financial literacy for low to moderate-income and minority communities in the U.S. Regarding this, we continue to stretch further to include the minority groups in the conversation to progress together. In the latest efforts to include the minority groups in the U.S., we present to you the new Hispanic Homebuyer Townhall and Real state Roundtable online radio and TV shows, courtesy of The Power Is Now, or rather El Poder Es Ahora. The two shows will be hosted by our VIP Agent Adriana Montes, representing the Orlando area.

Adriana is a broker/owner of Florida Realty Group. Adriana is originally from Cali, Colombia, and moved to the U.S in search of safety and better opportunities.

ADRIANA’S PAST LIFE AND EDUCATION

Adrian came to the U.S when she was 18 years old, with her mum and sister fleeing from kidnapping threats to her family from guerrillas back in Colombia. On arriving in the U.S, she enrolled in English classes at the University of Central Florida, where she later graduated in 2003. At the same time, she was working with Alamo Rental Cars as a salesperson. She then started her Bachelor’s Degree in Finance and Marketing at UCF. Due to her excellent grades, her bachelor’s degree program got a scholarship from Alamo Rental Cars.

After graduating, she obtained her mortgage license and left Alamo to work with a mortgage company where she learned how to originate loans. She fell in love with the job, and one year later, she obtained her real estate license and opened her own mortgage company, Door to Your Dreams Mortgage. Her dream to have a group of companies related to finance compelled her to open Door To Your Dream Financial Services later on.

Her desire and a strong belief in education compelled her to further her studies by obtaining her Master’s in Business Administration (MBA) in 2008, which she specialized in Non-profit Organizations due to her desire to give back to the community. Moreover, Ariana’s desire to keep her grandfather’s legal legacy and offer her clients value by providing legal advice compelled her to enroll to get a Juris Doctorate Law Degree.

REAL ESTATE CAREER

Adriana is a fearless, resilient, and determined realtor with over 20 years of experience in the real estate business. Adriana has been an active player and a leader in the real estate market. She operated a radio show in a Hispanic radio station for ten years, where she promoted homeownership, addressed issues concerning real estate. Adrian is also a firm believer in the fact that real estate is the best means to accumulate wealth and achieve financial stability. With her team of REO professionals, Adriana is passionate about what they do and are driven to offer superior services to their clients. As a dynamic group of real estate experts, they are always on the lookout for ways to be more educated and updated on current legislation to serve their sellers and buyers better.

ACHIEVEMENTS.

Adriana has sold over 1500 homes in her entire real estate career and generated over $300 million in sales volume. In the last decade, she has always been among the Top 20 Latino Agents in NAHREP’s Top 250 every year. Her most recent achievement was being awarded position 20 Latino Agent in 2020, having recorded 61 sales in 2019.

Adriana seeks to be a voice of power, and a source of motivation to business owners, entrepreneurs, women, Latinos, and anyone who is chasing their dreams.