Baltimore County Real Estate Market Report April 2013
The Compass Home Group
The Compass Home Group is dedicated to bringing you the most up to the minute real estate information for your area. Today, the Compass Home Group will focus on the Baltimore County Real Estate market trends in April 2013. So lets dive right into the data that means the most to you, our clients, customers, friends and family. Baltimore County Real Estate is continuing to trend upward in most areas as we cross over into the second quarter of 2013. For the month of April, 641 homes sold in Baltimore County, up 17.83% from April 2012, and up 14.2% from March of this year! While the number of homes took a big leap from last year, the average sales price of those homes fell slightly, 1.38% from last year, BUT, UP 8.8% from March of this year! The average price of a home sold in the Baltimore County Real Estate market was $251,393 for the month of April. The spring market is here and we should see activity continue to pick up as we roll into the summer months.
During the month of April, 615 properties went under contract in Baltimore County, up 12.84% from the same time last year! The average days a listing is taking to sell remained constant from March, staying right at 100 days. Homes are selling 22.48% faster this year, than last for April. Finally, we will look at the active inventory of listings on the market in Baltimore County. At the end of April, there were 2,467 listings currently listed for sale in Baltimore County. That is a decrease of 22.54% from the same time last year. So, WHAT DOES IT ALL MEAN?
The Baltimore County Real Estate market is changing, and changing quickly as we move into the spring market. This time last year there was a 5.85 month inventory of homes on the market at the end of April. Fast forward twelve months and we currently sit at a 3.8 month inventory of listings on the market. The National Association of Realtors says a healthy market has a listing inventory of 6 months, anything above that and you are shifting towards a buyers market, while anything below that you are in a sellers market. With only 3.8 months of inventory in April, we think its safe to say Baltimore County has moved into a sellers market!
This is opening up opportunity for home buyers, and sellers right now!! Plenty of properties are still on the market that are distressed and ready for a buyers touch, while sellers are seeing multiple offer situations on their homes now. The Compass Home Group wants to make sure you are fully informed of the market trends and where it’s heading. For more information on values in your specific neighborhood and the Baltimore County Real Estate Market, contact the Compass Home Group today. 443-360-0086
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