Entering the second quarter of 2014, Wilson Realty Group continues our weekly series on the local real estate market statistics. This week we focus on Baltimore County including Baldwin, Boring, Brooklandville, Butler, Chase, Cockeysville, Ellicott City, Fork, Fort Howard, Freeland, Glen Arm, Glyndon, Hampstead, Hydes, Joppa, Kingsville, Long Green, Lutherville Timonium, Millers, Marriottsville, Maryland Line, Monkton, Owings Mills, Parkton, Perry Hall, Phoenix, Randallstown, Reisterstown, Sparks Glencoe, Stevenson, Upperco, Upper Falls, White Hall, White Marsh, Woodstock, Towson, Baltimore, Pikesville, Sparrows Point, Middle River, Essex, Dundalk, Halethorpe, Catonsville, Parkville, Nottingham, Rosedale, Windsor Mill and Hunt Valley.
1. Market Activity – For the first time in a year, Market Activity ticked up across each segment in March. Inventory relief appears to be on the way as New Listings are up 17.1% against the same time last year and Active Listings are up over 14%.
2. Median Sold Price – The Median Sold Price is up only in Detached Homes but that was enough to raise the overall Median Sold Price to $200,000 across all segments.
3. Average Days on Market – The ADOM for Baltimore County is 85 days across all segments, a 15% decrease from the same time last year. Overall, homes that get listed in Baltimore County are selling and they are selling within an historically short timeframe.
4. Average Sold to Original List Price Ratio – The ASOLP Ratio peaked in May of 2013. Even though it has come down since then, the ASOLP Ratio is at 93.1% acros all segments for November. This represents an almost flat change from the same time last year.
The local real estate market statistics for Baltimore County reflect a strong increase for 2014 given where the market has been over the last several years. As we look toward the summer of 2014, there will be opportunities for improvement in the Baltimore County real estate market. If you are thinking about moving, or you know someone thinking about moving, call Wilson Realty Group today at 202-642-5478 to prevent yourself from wasting your money and time in your next real estate move. This one call could mean thousands of dollars back in your pocket. Don’t wait – call today.