Summer is here! Did you have a whirlwind spring like many other Baltimore-area residents? I hope that your kids had a great end to the school year and that you’re ready for a summer filled with fun. May 2019 was a very busy month, as homeowners moved out of their old homes and into new ones and more buyers entered the market to find a home before school is back in session. I’m thrilled to share with you my June 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 entering the summer, contact Dan Cohen Homes today.
May 2019 Market Statistics
May 2019 was a very busy time for the Baltimore area real estate market. Over the course of May, 516 units were sold for a total sales volume of $126,948,839 and a median price of $219,000. The median price is up almost $10,000 compared to April and the number of homes sold was also significantly higher. June is off to a bustling start, so now is the time to list your home or think about making a purchase.
In May 2019, there were 1,022 new units added to the market. That number is down slightly from April, which is to be expected. As the spring passes and summer begins, you can expect a slight lowering of the number of homes entering the market. The listed median price remained around $239,000 for the second consecutive month.
Purchasing in June 2019
There are some signs that home prices across the United States are no longer dramatically rising due to low inventory. That makes it a great time to purchase. It’s too early to tell whether or not the market is topping out, so you should act quickly in case things continue to climb. If you are considering purchasing a home in the greater Baltimore area this June, please contact Dan Cohen Homes as soon as possible to get the process started.
Selling in June 2019
As we mentioned above, the real estate market might be idling right now before prices either continue to climb or head down. If you are a seller, now is the time to put effort into getting your home sold. The team at Dan Cohen Homes can work hard on your behalf to get your home off the market and you moved into a new property as soon as possible.
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.