Baltimore Area Home Values On The Rise

The median sale price of a house in the Greater Baltimore Area – the City and surrounding counties – rose to its highest mark in nine years this April, according to a survey based on listing activity from real estate tracker MRIS. The median value of $255,500 marks an increase of 5.1 percent from the prior month, according to The Baltimore Business Journal. 

From the article:

Sales volume across the Baltimore area also increased in April, the survey showed. A total of $971.3 million in home sales was recorded, a year-over-year increase of 8.9 percent.

Residential closings were also up by 2 percent in April over last year’s data during the same month. There were a total of 3,264 closings.

The survey found that a total of 4,464 newly minted pending contracts were recorded last month, slightly below last April’s pending contract data of 4,853 during the same time.

A house in the Baltimore metro market has a 26-day median market stay, the lowest level since 2007, down from last year’s average of 41 days, the survey showed.