Baltimore by the Numbers, September 2018

By the Numbers

Median Prices Leap in 2018

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).

Median homes prices in Baltimore City increased 23.3 percent in August to $159,000 when compared to August 2017 when median prices were $129,000, according to MRIS numbers released this month. While sales numbers are relatively flat year over year, (up 1.6 percent) the median growth indicates that a healthy number of sales in the middle and upper-end of the market closed in August.

“Although median prices are rising our market is still very affordable for buyers in all stages,” said Annie Milli, Live Baltimore’s Executive Director. “There are great homes available for move-up buyers and the market is ripe for them to sell their homes to readily available first timers.”

The median growth is positive for Baltimore City as 87.1 percent of homes sold in the area are likely owner-occupied homes and not foreclosures or investment properties, this number is up 7.8 percent compared to one year ago.

Neighborhoods of Note

While some of the neighborhoods with the highest median prices are moving through the year strong, communities priced for first-time buyers enjoyed the most sales in August. Middle-market neighborhoods accounted for more than 25 percent of the month’s sales.

Top Ten Middle-Market Neighborhoods by August Sales 

Frankford: 21 sales

Howard Park: 15 sales

Hamilton Hills: 14 sales 

North Harford Road: 12 sales

Waltherson: 10 sales 

Glenham‐Belhar: 8 sales

Ednor Gardens‐Lakeside: 8 sales 

Rosemont East: 7 sales

Ramblewood: 7 sales

Lauraville: 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.