Halfway through the third 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 – Market Activity appears to have crested in May for Baltimore County. Accross the board the number suggest a slower market including a reduction in New Listings and Pendings. This reduction in Pendings is reflected in the increased inventory – up over 20% for the same time last year!
2. Median Sold Price – The Median Sold Price is up across each segment raising the overall Median Sold Price to $236,000 across all segments – a 4.9% increase over the same time last year.
3. Average Days on Market – The ADOM for Baltimore County is 63 days across all segments, a 4.5% 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 is at a 5-year high of 96.1%. This is great news for buyers and sellers in that prices are holding and we are seeing good appreciation across the market when viewed through the ASOLP Ratio.
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 fall 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.