How has your spring real estate market been going? If you’re in the Baltimore area, there’s a good chance that you’ve been very busy! April 2019 was a very busy month for the Baltimore area, as homeowners prepare to move to new homes and first-time homebuyers are flooding the market to find their dream home. I’m excited to share my May 2019 real estate market update for the greater Baltimore area with you and update you on how the market is doing. For customized insight into what your home could be worth or how much purchasing power you could have, contact Dan Cohen Homes today!
April 2019 Market Statistics
April 2019 meant spring was in full swing for the Baltimore area real estate market. Over the course of April, a whopping 484 units were sold for a total volume of $114,713,469 and at a median price of $210,000. Things are already off to a great start in May, so if you are considering listing your home on the market for a great sold price, now is the time to do so.
In April 2019, there were 1,149 new units listed on the market, and we expect even more to flood the market in May 2019. The listed median price is $239,000, so you can expect a great return on your property this spring.
Purchasing in May 2019
As of May 13th, mortgage rates are still low and awesome for homebuyers. They are expected to creep up over the course of the rest of the year, so you should consider getting pre-approved for a mortgage to be able to act quickly and benefit from the current rates. The average rate for a 30-year fixed mortgage is sitting at 4.05%, which is even lower than it was a month ago! Not sure how to get pre-approval or get yourself set up for success? The team at Dan Cohen Homes is happy to help!
Selling in May 2019
Because mortgage rates are so low, expect to receive plenty of offers from interested buyers looking to take advantage of preferable financing. Many sellers are listing this spring, so you should work with Dan Cohen Homes to prepare your home for listing ASAP! Thanks to the abundance of buyers and low inventory, you might be surprised what your home is worth!
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.