I’ve been looking at some numbers that are coming in for the Baltimore Metro market, so I wanted to share some recent stats with you today that show how our market has changed.
Prices are up by 6.5% year over year, which is great news for homeowners. As I started looking back over the last few years, I found that there have only been four months when we’ve seen negative appreciation, and three of them were all the way back in 2015. We’ve had basically three years straight of solid home appreciation since.
At the same time, sales are down slightly and we’ve seen a decline for about 10 months in a row. There have been 5% fewer home sales so far in 2019 than we saw in 2018.
Days on market are way down. Homes are selling in an average of 25 days. Our absorption rate is right around 3.3 months.
That’s just a quick update for you. If you want more detailed numbers about your specific neighborhood, don’t hesitate to give me a call or send me an email today. I look forward to hearing from you soon.