March 29, 2019 - Baltimore by the Numbers
Moderately priced neighborhoods see price and volume increases
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 far away suburbs (nothing like the city market).
Moderately priced neighborhoods, popular with first-time homebuyers, led City sales by volume in February with a total of 122 sales closing between median prices of $89,397 and $102,989. This is in contrast to sales volume in higher-priced neighborhoods where 47 sales closed between median prices of $191,953 and $223,970 in February.
While neighborhoods such as Canton and Riverside continued to hold steady in sales volume year-over-year, more affordable neighborhoods such as Frankford, Waltherson and Ednor Gardens-Lakeside held their own with an increase in both number of sales and average sales price over the last year. The average sales price in middle-market neighborhoods increased to $153,161 in Feb. 2019 compared to $150,064 in Feb. 2018.
Overall, Baltimore City’s number of home sales were in line with national trends and down year-over-year. Citywide, Baltimore had a total of 494 sales in Feb. 2019 compared to 568 in Feb. 2018.
“Our customers continue to show enthusiasm for city life by purchasing homes across the entire city,” Live Baltimore Executive Director Annie Milli said. “Our market is attractive and accessible to people of all income levels, but perhaps most appealing to first-time buyers. That’s great news for Baltimore.”
Top 10 Middle-Market Neighborhoods by Volume in Feb. 2019
Ednor Gardens-Lakeside: 8
North Harford Road: 7
Hamilton hills: 7
Graceland Park: 5
Rosemont East: 4