October 12, 2018 - Baltimore by the Numbers
Standard Sales Increase Across Markets
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 median home prices increased by 7.8 percent in September to $135,000 when compared to September 2017 when median prices were $125,288, according to MRIS numbers released this week.
While sales volume is down slightly year over year, the median growth indicates that a healthy number of sales in the middle and upper end of the market continue to be sold in the City. Additionally, the number of standard sales (non-foreclosures) year-to-date is higher at 85.5 percent of home sales in September 2018 compared to 77.4 percent last year.
“This is a good indicator of the health of our market,” Live Baltimore Executive Director Annie Milli said. “When looking at where we are compared to a year ago, the number of likely owner-occupied sales has been on the rise which indicates that foreclosures have been cycling out of the market.”
Neighborhoods of Note
While some of the neighborhoods with the highest median prices continue to show strength, they are not the only Baltimore City neighborhoods with strong home sales. Middle-market neighborhoods like Belair-Edison, Washington Village/Pigtown and Hamilton Hills also performed well this month.
Top Neighborhoods by September Sales
Canton: 39 sales
Riverside: 18 sales
Belair-Edison: 17 sales
Patterson Park: 12 sales
Washington Village/Pigtown: 12 sales
Hamilton Hills: 10 sales
McElderrry Park: 10 sales
Frankford: 10 sales
Ellwood Park/Monument: 9 sales