June 18, 2018 - Baltimore by the Numbers
Baltimore City Sellers Enjoy Rising Home Sales Prices
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 home prices rose more than 4 percent over the last year, according to MRIS housing data. City homes sold for an average price of $196,227 in May of this year compared to the average price of $188,674 in May of 2017.
"This increase in pricing may be the tipping point for potential sellers," said Annie Milli, Live Baltimore's Executive Director. "Homeowners who may have been just thinking about selling their home could be watching average prices and decide now is the time to list their home."
The need for more homes to come to market is apparent in the speed of sales. Homes in Baltimore City sold 17.5 percent faster this May compared to last year with homes spending 53 days on the market on average.