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 has enjoyed a strong 2013 with growth across the board since January. While August numbers were slightly below the peak in April, May and June, the 2013 increases represent nice gains from a year ago. However, Active Listings are still below 2012 levels for the same time which contributes to the inventory shortage we see across the greater Metro DC Region.
2. Median Sold Price – As the market has accelerated in 2013, so have the prices. Median Sold Prices are up across each segment from this time last year. Across all segments the Median Sold Price is $252,000 representing a 5% increase from August 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 68 days which represents a 30% 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 under 95% across all segments. This represents a 2% increase from last year and is at a historically high number for the Baltimore Region.
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 September 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 keeping more of your money in your pocket. So call us today 202-642-5478 to get started. Let’s move!