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.
“If you’ve missed out on a home, August might be a great time to find a good value.”
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.