What’s the latest news from our Baltimore metro area market?
Let’s start by sharing some statistics from the month of June:
- The median sale price was just shy of $279,000, which is the highest it’s been since July 2007.
- There were 4,509 closed sales and 4,313 pending sales—the highest number for either category in a decade.
- Active inventory continued to decline by double digits for the twelfth consecutive month, and ended at 11,097 homes.
To get a more in-depth look at how our market fared in June, check out this article by Real Estate Business Intelligence.
One trend I’ve noticed lately is that many buyers who’ve been trying to secure a home before summer ends and school starts have found what they were looking for. The market tends to slow down in August and then pick back up after Labor Day. I always say this window is the second-best time period to sell your home, after the spring market.
On the buyer side, if you’ve missed out on a home in the last few months, August might present some valuable opportunities since fewer buyers will be in the marketplace.
On a different note, we have a client appreciation event coming up on September 23rd at the Columbia Sports Park from 5 p.m. to 9 p.m., so keep your eyes peeled for an upcoming invitation. It should be a great time for everyone involved, so we hope to see you then.
In the meantime, if you have any questions about our market or are thinking of buying or selling a home, feel free to give me a call or shoot me an email. I’d be happy to speak with you.