Baltimore By the Numbers, August 2018

By the Numbers

July Housing Numbers Trending Upward

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).

Housing sales in Baltimore City are up 2.9 percent so far this year, according to MRIS market data looking at July’s numbers.

July brought in 736 standard sales bringing the total number of owner-occupied closings up to 4,336 so far this year. This is an increase compared to the 4,215 sales closed last year at this time.

“Healthy July numbers help bolster this year’s housing statistics overall after a lackluster June,” said Annie Milli, Live Baltimore’s Executive Director. “This year has been a year of stabilization, but should end up slightly positive if we can maintain this momentum through the last part of the year.”

The 736 closings in July are also an increase year over year compared to last July when only

Six-hundred and thirty-seven homes closed— a 15.5 percent increase. This year’s market is in a state of more normalization compared to years prior as many of the downturn’s foreclosures have finally moved through the market. This year’s increase in standard sales highlights improvements in the market.

Neighborhoods of Note

The most sales were seen in the affordable, entry-level part of the market in communities where home prices hover around $160,000 on average, according to data. Take a look at what neighborhoods in this part of the market had the most sales:

Hamilton Hills: 15 sales

Waltherson: 14 sales

Glenham-Belhar: 13 sales

Frankford: 12 sales

Reservoir Hill: 11 sales

Remington: 11 sales

Lauraville: 9 sales

Greektown: 8 sales

Howard Park: 7 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.