Now that we’re halfway through the year, it’s as important as ever to stay up-to-date with what is going on in our Baltimore market. Here are a few of the things you need to know.
Today I’d like to talk about what’s really happening in our Baltimore real estate market.
With about 80 homes under contract at any given time, we’re now seeing pockets of both buyer’s markets and seller’s markets.
While it’s true that our local market is getting better, other states such as California, Arizona, and Florida have only about one and a half months of inventory compared to our five, almost six, months.
So, really, when you look at the market there are a number of factors to consider in terms of the big picture such as area and price point.
In Hartford County and Baltimore County, for example, homes priced $500,000 and above are moving more slowly.
"The key thing really is to know what is going on in your market including the negatives."
The key thing really is to know what is going on in your market including the negatives, whether there are a lot of multiple offer situations, and so on.
Oftentimes in this competitive market, issues occur when a seller is confronted with the prospect of needing to make repairs but is hesitant because they feel they are safe as a result of having multiple offers.
Unfortunately, this can result in the home going back up on the market, causing it to take longer to sell.
There are some issues going on in today’s market. But ultimately, these can be worked with as long as you are aware and your agent is proactive.
If you want more information or have any questions, we welcome you to call or email us. We look forward to hearing from you.
