Baltimore by the Numbers, April 2018

By the Numbers

March Numbers Jumpstart Spring Selling Season

Welcome to our Baltimore by the Numbers monthly update. This feature offers unique insight into the Baltimore City housing market — giving a hyperlocal take on what’s happening and paring down regional reports that include faraway suburbs (nothing like the city).

Although national analysts anticipate the housing market will see a weaker Spring selling season in 2018 than years past, Baltimore City’s market is flexing early seasonal strength.

In March, Baltimore City enjoyed 627 standard (likely owner-occupied) sales, an 8.3 percent increase compared to March of 2017. Year-over-year, the market is also up 1.8 percent in sales that are not classified as distressed, investor purchases or foreclosures.

“The uptick in residential sales is a good sign for the City,” said Annie Milli, Live Baltimore’s Executive Director. “Our available inventory is allowing for our market to grow in a healthy way, at a steady pace, while surrounding counties lack options for buyers.”

At this point in the year, homes in Baltimore City are selling 23 percent faster than in 2017. A standard home sale closed after 56 days on the market in March of this year compared to 74 days last year.

Neighborhoods of Note

The average price of a home sold in Baltimore City during the month of March was $175,000— great for homebuyers looking to purchase a starter home in a middle-market neighborhood. Take a look at our list of affordably-priced neighborhoods that saw the most sales in March. Neighborhoods included in this group have an average sale price of $169,592.

2018 Top Ten Neighborhoods for First-time Homebuyers

Entry-level Priced Neighborhoods leading Baltimore by number of sales

Hanlon-Longwood: 7 sales

Greektown: 6 sales

Windsor Hills: 4 sales

West Forest Park: 4 sales

Mid-Govans: 3 sales

Rognel Heights: 3 sales

Remington: 3 sales

Cross Country: 3 sales

Glen Oaks: 3 sales

Greenmount West: 3 sales

For more insight into Baltimore City’s housing market, or to set up a time to learn more, call 410-637-3750 or email info@livebaltimore.com.