Baltimore County Real Estate Market Report March 2013

Baltimore County Real Estate Market Report March 2013

The Compass Home Group

443-360-0086

The Compass Home Group is committed to bringing you the most up to the minute real estate information for your area!  The Compass Home Group is happy to show you where the current real estate market is trending to at the end of first quarter of 2013.  We are going to dive right into the most relative date to you, our clients, customers, friends and family.  Baltimore County Real Estate is definitely on an upward swing from where we stood last year at this time.  In the month of March, 561 homes sold in Baltimore County, down .18% from March of 2012.  While the number of homes selling dropped slightly the positive side is they are selling for more money as our economy creeps upward.  The average sold price of a home in Baltimore County was $230,997 for March 2013, up 5.09% from the same time a year ago!  This is huge!  The market is beginning to trend upwards as we are stepping into the busiest time of year for real estate, our SPRING market, and as you can see SPRING HAS SPRUNG!!

During the month of March, 585 Baltimore County properties went under contract, a decrease of 2.01% from March 2012.  Those 585 homes that sold in March sold in an average of 100 days.  That is 28% faster then the same time last year.  The final number we are going to look at is how many active listings are currently on the market in Baltimore County.  The answer??  2,189, down 27.01% from where we were last year.  So, WHAT DOES ALL THIS MEAN??

The Baltimore County Real Estate market is changing, and changing quickly as we move into the spring market.  This time last year there was a 5.3 month inventory of homes on the market at the end of March.  Fast forward twelve months and we currently sit at a 3.9 month inventory of listings on the market.  The National Association of Realtors says a healthy market has a listing inventory of 6 months, anything above that and you are shifting towards a buyers market, while anything below that you are in a sellers market.  With only 3.9 months of inventory in March, we think its safe to say Baltimore County has moved into a sellers market!

This is opening up opportunity for home buyers, and sellers right now!!  Plenty of properties are still on the market that are distressed and ready for a buyers touch, while sellers are seeing multiple offer situations on their homes now.  The Compass Home Group wants to make sure you are fully informed of the market trends and where it's heading.  For more information on values in your specific neighborhood, contact the Compass Home Group today. 443-360-0086