Compass Home Group: Baltimore City Real Estate Report September 2013

Thursday, October 10, 2013

Baltimore City Real Estate Report September 2013

Baltimore City Real Estate Report September 2013

Compass Home Group of Keller Williams American Premier Realty

Call or Text 443-360-0086 For More Information

Better late than never I say, as our MLS has finally put out the market statistics for the month of September and we are ready to present the Baltimore City Real Estate Report! The government may be shut down right now, but the Real Estate market is still alive and well!! As the debt ceiling limit nears nobody is sure what will happen if no extension is signed, and interest rates could be significantly affected, so contact a lender now and make sure to lock into your rate as a 1% increase in rates can cost you up to 10% of your purchasing power when buying a home! Compass Home Group partners with some great lenders in the Baltimore City Real Estate market, contact them today!

Ok, let's dive into the details of whats going on in the Baltimore City Real Estate Market. The average sold price in the month of September came in right at $168,240, which is an increase from the same time period last year, up 8.35%, and with double digit growth from the average sales price in January of 28.29%. 466 Homes have sold in the Baltimore City Real Estate market last month, up 9.39% from the same time last year, so the number of homes selling continues to rise!

There are currently 3,048 active listings on the market for sale in Baltimore City, showing that inventory is down 2.93% from last year. Baltimore City Real Estate is pretty much a balanced market with a little over 6 months of inventory for buyers, swaying a little bit in the buyers favor. The good news for sellers is the average days on market to sell there home has dropped 29% from the same time last year, to 71 days. While this number varies from zip code to zip code, and community to community, it's an overall indication of the market in Baltimore City.

Compass Home Group is committed to bringing the most up to date market statistics to our clients so they can make the most informed decision on the sale of their first home, new home, investment home or second home in, or around Baltimore City. If you're interested in a market analysis of your homes value, don't hesitate to visit www.ListWithCompass.com and complete the short questionnaire on your home!