Summer is in full swing, and school supplies are already lining the shelves at department stores. June 2019 was a busy month in the Baltimore area real estate market, and July has been a very exciting month so far. I’m excited to share with you my July 2019 real estate market update for the greater Baltimore area. For customized insight into the value of your property or how much purchasing power you have before back to school season arrives, contact Dan Cohen Homes today.
June 2019 Market Statistics
June 2019 was a great month for the Baltimore area real estate market. Over the course of June, 584 units were sold for a total sales volume of $151,086,396 and a median price of $227,750. In May, only 516 units were sold, and the median price was $8,750 lower than June. June was an awesome month for real estate, and July has been carrying much of the same momentum so far. If you are considering moving out of your home or into a new home this year, now is the perfect time to take advantage of a strong market.
Over the course of June 2019, there were 905 new units added to the housing market. That number is down from the 1,022 units added in May. It’s expected that the market will naturally slow with new additions through the rest of the year. Many families in the hunt right now are looking to move before their children start school, so time is of the essence if you’re considering a move!
Buying & Selling in July 2019
Some of the most recent real estate trends in the greater Baltimore area include:
- Lower-priced homes are slowly disappearing on the market. The number of homes selling for $250,000 or less currently account for about half of current Maryland home sales. That means that new homebuyers with smaller budgets might need more time or negotiation help to get their dream home.
- Mortgage rates remain low (3.91%) this month, so it’s a great time to obtain financing or refinance your home.
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.