A couple recent reports offer further encouragement concerning the real estate market in Baltimore!
1. The Baltimore Sun recently reported that “more homes were sold last month – and for more money on average – than a year earlier in the Baltimore metro area.”
Metropolitan Regional Information systems released the numbers Wednesday, and it’s good news. Home sales are up 9% from last January: about 1,100 were sold, and the average sale price increased by just over 2 percent at $272,000. Furthermore, “average buyers last month got homes for about 11 percent below their listing prices.”
With prices beginning to rise, the extension of the first-time home buyer credit until November, and the snowstorms officially past (knock on wood), times are looking good to get that condo on the water you always wanted.
2. RealtyTrac has also released reports that, although the national foreclosure drop for January was 10%, Maryland’s foreclosures have actually dropped by 23% from December, as reported by Gazette.net. (Points for beating the national average by over half!)