What Trends Are We Seeing in the Baltimore Market?

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The weather is warming up and spring is nearly here. Today we'll go over the latest numbers for Baltimore and Harford Counties as we head into the busiest season of the year.

In terms of closed sales, we have seen some great numbers so far in 2015. This year, closed sales are up by about 35% from where we saw them at this point last year.

Another trend we are starting to see is a lot more homes that are For Sale By Owner (FSBO's). If you are thinking of buying or selling a home like this, there are some pitfalls that you need to be aware of in the market.  

The first is overpricing your home. Coming in at too high of a price, especially as a FSBO, will either cause your home to sit on the market much too long, or you will find a buyer, go under contract, and then see the buyer back out at the last minute due to the price.

We have been seeing buyers make faster decisions than they ever have before. It's important to not make a snap judgement when buying or selling real estate, and it's important to do your due diligence as well.

One trend we have to mention is that FSBO homes fall through at nearly a 30% rate. When you are thinking about purchasing one of these homes, it's important to have guidance through the transaction so that you are ready to make your move when the time is right.

If you have any questions for us, feel free to give us a call or send us a quick email. We look forward to working with you soon!