Baltimore by the Numbers, December 2017
By the Numbers
Sales Growth Spread Across Baltimore in November
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 market).
In November, the City enjoyed 547 standard sales at a median price of $160,000. The number of standard sales, or owner-occupant purchases, is an increase of 15.9 percent compared to last November.
November’s standard sales added to the continuing robust single-family sales market the City has been enjoying all year. With 6,576 homes sold to owner-occupants this calendar year, continued growth is expected to chug along through December, rounding 2017 out as an outstanding year for Baltimore City’s home sales market.
“I get asked about more for sale signs going up.,” said Annie Milli, Live Baltimore’s Executive Director. “Sellers are answering buyer demand. In this market, if you’re seeing for sale signs in your neighborhood, it means new neighbors are on the way.”
Neighborhoods of Note
November’s sales covered more than half (162) of the neighborhoods across Baltimore City with more neighborhoods enjoying growth compared to the previous year when sales were spread across just 152 neighborhoods. This uptick in interest in outlying neighborhoods shows even the lesser-known areas are piquing the interests of buyers, spreading growth across the city.
“It’s important to recognize the strength of markets all across our city.” Milli said. “It shows that Baltimore, on the whole, is a good investment.”
While large, dense neighborhoods experience high numbers of sales, smaller and less dense areas may have just a few. This is important to consider as the latter are also experiencing growth. Port Covington, which has been in the spotlight given the new commercial developments in the neighborhood, had two sales total this year. Those sales are representative of 14.3 percent of the housing units in that neighborhood, showing that stock there is limited and interest is growing.
Meanwhile, the far northeast neighborhood of Taylor Heights had 12 sales representing 7.3 percent of its housing stock. Additionally, the Patterson Park neighborhood, which often leads top ten lists with a large number of sales, came in at No. 9 on our list with 184 sales comprising 7.1 percent of the neighborhood’s total housing stock.
Neighborhoods leading Baltimore in the proportion of housing units sold from Jan. to Nov. 2017
Port Covington: 2
Locust Point: 120
Brewers Hill: 58
Taylor Heights: 12
Loyola/Notre Dame: 1
Patterson Park: 184
Patterson Place: 39
For more insight into Baltimore City’s housing market, or to set up a time to learn more, call 410-637-3750 or email email@example.com.
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