Where did the summer go? If you’re like many of us, this past week you turned to the calendar to scratch your head at where the lovely warm vacation nights went and how school approached so quickly! July 2019 was another great month in the Baltimore area real estate market, and August has remained strong as we transition into the fall. I’m thrilled to share with you my August 2019 real estate market update for the greater Baltimore area. For more insight and customized projections on the value of your property or how much purchasing power you have, contact Dan Cohen Homes today.
July 2019 Market Statistics
July 2019 was another strong month for the Baltimore area real estate market. Throughout the month of July, 509 units were sold for a total sales volume of $127,993,238 and a median price of $225,000. While those numbers are slightly lower than the ones that we saw in June, many home sellers and buyers take a break over the summer. The fact that the numbers still remained strong indicates that it remains an excellent time to put your home on the market.
Over the course of July 2019, there were 816 new units added to the housing market. That number is down from both May and June, which is expected as the year winds to a close and buyers plan on staying put for the fall and winter months.
Buying & Selling in August 2019
Some of the most recent real estate trends in the greater Baltimore area include:
- Mortgage rates are still preferable for homebuyers and remain as low as 3.875% interest on 30-year fixed-rate mortgages. If you are waiting to act on obtaining financing, now is the time!
- Looking ahead to 2020, many analysts are predicting that housing prices will continue to rise, but more gradually. The rapid pace that home values have been accelerating will not continue, and the market may start to shift into a buyer’s market instead of the seller’s market that it has been.
Partner with Dan Cohen Homes
To learn more about our investment options if you’re looking to sell your home or interested in property investment, please contact Dan Cohen Homes today.