Thursday, July 10, 2014

Baltimore County Real Estate Agent Market Update July 2014

Baltimore County Real Estate Agent Market Update July 2014 
Compass Home Group of Keller Williams American Premier Realty 
Call or Text 443-360-0086

Baltimore County Real Estate Agent Market Report July 2014Welcome to the Baltimore County Real Estate Agent Market Updated for July 2014. Compass Home Group, your premier Baltimore County Real Estate Agent team, is dedicated to keeping you informed of market updates, statistics and trending as we continue to inch our way out of the depressed real estate markets of the last 5 years!! Lets not waste anytime and jump right into what is happening in our local market today! The numbers for June were just released, and as usual we will look at these numbers, compared to last year, last month, and the beginning of 2014. Search All Baltimore County Homes for Sale!

In June, 831 Baltimore County properties exchanged hands via the MLS system called MRIS. This number represents a 1.42% decrease in homes sales from the same time last year, but up 13.99% from last month. This is very common to tick up throughout the Summer months as parents want to make their move outside of the school year for an easy transition for their children. The average sold price of a Baltimore County home was $289,134 in the month of June, up 8.52% from the same time last year, and up 11.8% from last month. The MOST sold home in Baltimore County was a single family detached home with 4+ bedrooms, average a sales price of $438,132!! Coming in a close second were 3 Bedroom detached homes. Combined, these homes made up over 60% of the Baltimore County Real Estate Market, so if you have a single family detached home and are thinking about selling, now is the time!
Average Sold Price $289,134
# of Homes Sold 831
New Under Contract 582
Active Listings 3,262
New Listings 1,318
Average Days On Market 63

582 homes went under contract in the month of June, up .34% from June 2013. Realtors were busy in June, with 1,318 new homes hitting the market! This stat shows a 15.92% increase from the same time last year, bringing our current housing inventory to 3,262 active Baltimore County Listings. This statistic represents our largest jump from 2013, increasing over 20%! The Baltimore County Real Estate Market is basically playing catch up right now. Sellers were on the fence about selling, inventory was down, and now as they see prices begin to tick up, they are are putting their homes on the market. This is creating a Sellers Market Inventory as we currently have approximately 3.9 months of inventory in Baltimore County. National Association of Realtors defines 6 months of inventory in a market to be balanced, anything above and we are in a buyers market, anything below and we find ourselves in a sellers market. The average days a home is taking to sell in Baltimore County right now sits at 63, down 4.55% from the same time last year. With homes priced well, regardless of condition, we are often seeing homes selling within 5-7 days bringing in multiple offers. So Baltimore County is seeing low inventory, higher prices, and homes selling faster!! Remember, you pay a Realtor to market, position, and negotiate your home sale. Make sure you hire a Realtor with the marketing know how to bring the most qualified buyers through your home!

For a FREE market valuation of your home, but a licensed Baltimore County Real Estate agent, contact us today by calling 443-360-0086 or complete our short seller survey!! We will also include our 2014 guide to selling your Harford County Home!!  

Compass Home Group of Keller Williams American Premier Realty  
Tim Langhauser & Michele McCartin  
Call or Text 443-360-0086 for information Broker: 443-512-0090  
Get a FREE REPORT of your HOME'S VALUE at www.ListWithCompass.com