March 18, 2020

March 2020 Real Estate Market Update

Real Estate Market

Spring is finally here, and we hope that winter treated you well! The Baltimore real estate market is starting to warm up, and February 2020 offered plenty for home buyers to fall in love with. I hope that you and your family are staying safe amidst the COVID-19 outbreak. Our office is taking precautionary measures and working with buyers through virtual tours and listing presentations to keep everyone safe. We are still operating at our normal hours, but remaining versatile to meet your needs remotely and virtually!

We anticipate that the real estate market will heat up this spring, as mortgage rates remain low. 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.

February 2020 Real Estate Market Statistics

February 2020 was an awesome month for the Baltimore area real estate market. There was an increase in units sold over the course of the month, with 687 sold in Baltimore County compared to 659 in January. That number also marks an increase of 3% from one year ago in February 2019. While that figure is higher, the total number of homes available on the market has decreased compared to this time last year. If you are looking for a home, be prepared to make an offer and secure financing in advance to ensure the best chance of you getting your dream home. The average number of days on the market has also decreased from last year, from 59 to 53.

Buying & Selling in March 2020

  • Home inventory remains low, which is good news for home sellers. If you are considering selling your home, now is the perfect time to list and enjoy competitive offers from buyers. Not sure what your home could be worth? Contact our team today!
  • In February 2019, the median sale price for Baltimore County was $234,950. This year, that has risen to $250,000 for an increase of 6% over last year. This is also great news for home sellers looking to maximize their asking price.
  • Just when we think mortgage rates can’t go any lower, we are proven wrong! If you are a home buyer this is great news, as you should be able to secure excellent financing for your dream home. We can help you to explore your financing options and prepare you for your home purchase.

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.

March 18, 2020