With Baltimore's economy on the rise, population growth and housing market booming, it's no surprise that investors are increasingly looking to Baltimore as an investment opportunity. On average, homes in Baltimore County are selling for a higher price than the previous year. Howard County recorded the biggest increase, with a 14.9% jump in the average price compared to the previous year, while prices in the city of Baltimore dropped for the second consecutive month. Homes are taking longer to sell in many parts of the Baltimore region, with an average of 29 days on the market in Baltimore City, but only eight in Howard County.
The data also reveals that 36.6% of homes in Baltimore County sell above their list price, while 36.6% of homes sell below their list price. In addition, the average home sales to sale ratio in Baltimore County and the Baltimore-Columbia-Towson MSA is 1,000, indicating that homes sell for the asking price. The median number of outstanding days for homes in Baltimore County and the Baltimore-Columbia-Towson MSA is 12 and 14 days respectively, indicating an accelerating market where homes are selling quickly. Investors looking to purchase a home in Baltimore County should be aware of current trends and market insights. It is essential to research schools and neighborhoods before making a purchase decision.
Additionally, it is important to understand current market conditions and how they may affect your investment. With careful research and planning, investors can make informed decisions when buying a home in Baltimore County. For those looking to invest in Baltimore County real estate, it is important to understand the average home prices in different neighborhoods. Prices vary greatly depending on location and amenities. For example, homes in affluent neighborhoods such as Roland Park or Towson may be more expensive than homes in less affluent areas such as Dundalk or Essex.
Additionally, buyers should consider factors such as school districts, crime rates, and access to public transportation when making a purchase decision. Overall, investing in real estate can be a great way to build wealth over time. With careful research and planning, investors can make informed decisions when purchasing a home in Baltimore County.