Fall is in full swing, and families are getting settled in their new homes or trying to find a perfect place in time for the holidays. Where are you at in your home buying or home selling journey? September 2019 was another strong month in the greater Baltimore area, and October has remained just as bustling. I’m excited to share with you my October 2019 real estate market update for the greater Baltimore area. 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.
September 2019 Market Statistics
September 2019 was another strong month for the Baltimore area real estate market. Throughout the month of September, the greater Baltimore area posted the highest September home sales numbers in almost a decade! The Baltimore metro area’s home prices jumped 7% over where they were in 2018, and the median sales price for the area was $287,750. The number of closings posted was 3,172, which is approximately 14% higher than it was September of last year.
Buying & Selling in October 2019
Some of the most recent real estate trends in the greater Baltimore area include:
- Mortgage rates are fluctuating, but they are currently the highest than they have been in three months. If you did not take advantage of low rates when they reached rock bottom, now might be the time to consider securing financing before they rise even further.
- As we look towards the new year, there are several trends already starting to emerge. Some of the trends that we are expecting to appear in 2020 include an uptick in young and first-time homebuyers, an increase in homes hitting the market and the average sale price, lower interest rates that entice homebuyers and the growth of developing markets just outside of big cities.
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.