The most romantic month of the year is here, and it’s the perfect time to fall in love with a new home. The real estate market in the greater Baltimore area remains robust, and January 2020 was an awesome start to the new decade. I believe that the market will remain strong throughout the spring, as mortgage rates stay low and the inventory is slowly increasing. For more insight and customized projections on the value of your property or how much purchasing power you have, please contact Dan Cohen Homes today.
January 2020 Real Estate Market Statistics
January 2020 was an awesome month for the Baltimore area real estate market. In January 2020, there were 685 sold listings in the greater Baltimore area. Homebuyers decided to start the year off right and find a new place to call home in the first month of the decade. Across Maryland, there was a 10% boost in units sold over the same month in 2019. The most notable difference is the decrease in inventory from this time last year. In January 2020, the active inventory throughout Maryland was 15,330 and in January 2019 this figure was 25,760. This means that partnering with the right real estate agent, like Dan Cohen Homes, is essential.
Buying & Selling in February 2020
As the statistics show above, home inventory is low. This is great news for home sellers, as there is a much higher chance that you will receive offers close to the asking price or multiple strong offers from interested buyers.
- The median home price is rising compared to past years, and the Washington, D.C. metropolitan area saw the highest median home price for the region in a January in over a decade. Home prices have risen in the region for 40 consecutive months currently.
- Because the mortgage rates are currently reaching historic lows, now is the perfect time to put your home on the market. Acting quickly to secure great financing will ensure you pay the least amount of interest possible on your property and take advantage of the seller’s market.
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.