Baltimore-area Home Prices Increase in October
Home sales and prices are on a continuous rise in the Baltimore, MD area. All signs are pointing to a competitive race for inventory, which is turning over as fast as it becomes available for buyers.
"A total of 3,097 homes sold in the Baltimore area for a median price of $260,000 in October, up $7,000 from the same month last year, according to a ShowingTime report released Friday," reported National Mortgage News.
"Both the median price and number of sales, which rose 1.2%, were the highest October levels for the area in a decade, according to the monthly report, based on listing activity from MRIS, a division of the multiple listing service Bright MLS."
Of course positive sales are definitely signs of a growing market but if sale prices continue to increase, it could cause homebuyers to think twice about purchasing a home in the area.
As it stands, the city happens to be one of the most affordable areas in the region, according to the report. So, the danger of becoming too expensive may not be in the near future.
You can find out more about the Baltimore-area's budding housing market and why it is one of the top areas in the region by clicking on the image above.