February 12, 2019 - Baltimore by the Numbers
Standard Sales Increase Year-Over-Year
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).
Baltimore City average home prices increased by 24.31 percent in January to $164,100 when compared to January 2018, according to MRIS numbers released this month. Median prices have also increased by 35.3 percent to $114,000.
Additionally, the percentage of standard home sales are on the upswing. While about 66 percent of home sales in January 2018 were deemed “standard”, meaning not foreclosure, January 2019 saw 76.28 percent of home sales falling into this category.
“The Baltimore market is accessible, affordable and enticing to first-time and move-up homebuyers,” said Live Baltimore Executive Director Annie Milli. “This year-over-year growth is good news for Baltimore’s current residents as our market continues to post positive growth numbers.”
Neighborhoods of Note
While popular neighborhoods like Canton and Hampden continue to show strength, January 2019 home sales remained strong across all markets. Belair-Edison sales shined while buyers showed interest in middle-market neighborhoods such as Frankford and Coldstream Homestead Montebello as well.
Top 10 Neighborhoods by Volume in Jan. 2019
Washington Village/Pigtown: 12
Patterson Park Neighborhood: 9
Coldstream Homestead Montebello: 9