August 28, 2018 - Baltimore 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
637 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