Wilson Realty Group continues our weekly series of local market statistics. This week we focus on the Baltimore Region which includes Anne Arundel County, Baltimore City, Baltimore County, Carroll County, Harford County and Howard County.
1. Market Activity – The Baltimore Region enjoyed a strong 2013 with both New Listings and Closed Sales experiencing double digit gains. While December numbers were slightly below the peak in April, May and June, the 2013 increases represent nice gains from a year ago and sets up nicely for more growth in 2014.
2. Median Sold Price – As the market varied in 2013, so have the prices. Median Sold Prices are flat across each segment from this time last year. Across all segments the Median Sold Price is $234,075 representing a -0.4% decrease from December 2012.
3. Average Days on Market – Housing in the Baltimore Region continues to move with high velocity. The ADOM for the Baltimore Region is down to 78 days which represents a 18.8% decrease from last year. Due to the low inventory and positive housing conditions houses that go on the market don’t stay on the market very long.
4. Average Sold to Original List Price Ratio – This ratio sits just over 93.1% across all segments. This represents almost a 1% increase from last year.
While all of these statistics represent good news for the Baltimore Region, they are almost all down from 2013 highs. We will continue to track the numbers for January to see if the decreases are a part of a trend or represent an anomoly in the market. Regardless of what is going on in the market, our job at Wilson Realty Group is to make your next move as smooth and as profitable as possible by not wasting any more of your money using yesterday’s outdated real estate processes. So call us today 202-642-5478 to get started. Let’s move!