Wednesday, January 15, 2014

Baltimore County Real Estate Market Report December 2013

Baltimore County Real Estate Market Report December 2013
Compass Home Group of Keller Williams American Premier Realty
Call or Text 443-360-0086

We are kick starting 2014 and the real estate market is HOT, HOT HOT!!  History, the media, and basic human understanding would lead us to believe that December tends to be a slow month in real estate with the hustle and bustle of the Holidays.  Let's take a peak at some of the key indiciators of the Baltimore County Real Estate Market below and see if that holds true for 2013.  The average sold price of a Baltimore County Home last month came in at $209,900, rising up 2.19% from the same time in 2012, but down 7.66% from January of 2013.  NO, this does not mean homes fell over 7.5% in 2013, all it means is on average, the homes that sold during that month fluctuated greatly.  644 Homes in the Baltimore County Real Estate Market settled in December of 2013 up almost 17% from the same time last year, and up just about 53% from January.  While the increase from January is not rare, the 17% gain from the same time last year shows us more buyers are out on the market as compared to the same time last year!

334 New Contracts were written in Baltimore County last month, down 2.91% from December 2012.  I think we can attribute much of this too rising interest rates and the state of the economy right now.  The Baltimore County Real Estate Market has 2,489 active listings for sale, which equates to about 3.9 months of inventory in the County.  National Association of Realtors defines a healthy market as having 6 months of active inventory, so there is definitely of inventory for buyers on the market, favoring the sellers.  As is the case, don't wait for the "spring rush" of sellers to flood the market with homes if you are looking to sell!!  Contact us today, www.ListWithCompass.com or by calling 443-360-0086 for a free market analysis of your homes value.  Wouldn't you rather put your Baltimore County home on the market when inventory is low, and before interest rates creap up through the spring/summer?  I know I would!!  More money for you, and more buyers on the market looking!!
Another number that attributes to the shortage of inventory is new listings hitting the Baltimore County Real Estate Market, coming in at 513 in December, down a staggering 36.98% from November.  With more homes selling, and less homes hitting the market, it only proves one thing that the inventory is continuing to shrink making it slightly more difficult for buyers to find just the right home for them.  Our history has shown that our average buyer tours 7-9 homes before finding their "perfect home."  This is done by going through an in depth anaylsis of your homes needs and making sure not waste your time touring homes that don't meet your needs!!  If interested in starting this process, visit www.BuyWithCompas.com and complete the short 2 minute survey!!

The final number we will look at is average days on market a home takes to sale in Baltimore County.  For the month of December, it came in at 72 days.  This is great news for the sellers in Baltimore County, as homes are selling 23.40% faster this year, than last.  Even better news are sellers who hire the expertise of the Compass Home Group, as their Baltimore County Homes are selling, on average, in 37 days!!  Contact us today, www.ListWithCompass.com

Compass Home Group of Keller Williams American Premier Realty  
Tim Langhauser & Michele McCartin  
Call or Text 443-360-0086 for information
Get a FREE REPORT of your HOME'S VALUE at www.ListWithCompass.com