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GREATER BALTIMORE

MARKET REPORt

BALTIMORE CITY, BALTIMORE COUNTY, HOWARD COUNTY

FOREWARD

The Greater Baltimore real estate market has experienced a period of significant growth and dynamism, as detailed in this comprehensive report. This analysis examines key market indicators, revealing a robust landscape characterized by heightened activity and notable price appreciation.

In the period covered by this report, the total sales volume in Greater Baltimore reached an impressive $7.74 billion, marking a substantial 34.34% increase compared to the prior year's $5.76 billion. This surge in sales volume underscores a strong and active market with considerable buyer interest.

Accompanying this increase in sales volume was a healthy rise in average sales prices. The average sale price climbed to $393,056, reflecting an 8.01% year-over-year gain from $363,901. This price appreciation suggests robust demand within the market, further solidifying the trend of a competitive landscape.

The number of transactions also saw a significant uptick, with 19,701 sales recorded, a 24.38% increase from the previous year's 15,839 transactions. This growth in transaction volume reinforces the picture of a thriving market with increased buyer participation.

While the average days on market experienced a slight increase of 3.7%, rising from 27 to 28 days, this figure remains relatively low, indicating that properties are still moving quickly.

This report also highlights the diversity of the Greater Baltimore market by examining top-performing neighborhoods. By number of sales, Canton led the way with 357 transactions, followed by Federal Hill with 265. In terms of average sale price, Kingsley Woods in Ellicott City commanded the top spot at $2,019,480, demonstrating the range of price points within the region.

This report provides a detailed analysis of these and other important market trends, offering valuable insights for buyers, sellers, investors, and anyone interested in understanding the dynamics of the Greater Baltimore real estate market.

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Total Sales Volume

$7,743,595,510
+ 34.34%
prior year
$5,763,821,558

Average Sales Price

$393,056
+ 8.01%
prior year
$363,901

Number of Transactions

19,701
+ 24.38%
prior year
15,839

Average Days On Market

28
+ 3.7%
prior year
27
The Big Picture

lets take a look at a breakdown of the full market segment

what & how

lets take a look at what and how people are buying in all market segments

GREATER BALTIMORE
BEDROOM BREAKDOWN
0-2 Bedrooms

3,771

$2,33,625

121.24%

UNITS

AVERAGE PRICE

LIST TO SALES PRICE

3 Bedrooms

9,105

$322,388

105.21%

UNITS

AVERAGE PRICE

LIST TO SALES PRICE

4+ Bedrooms

6,824

$575,460

116.14%

UNITS

AVERAGE PRICE

LIST TO SALES PRICE

GREATER BALTIMORE
TYPE BREAKDOWN
single families

8,022

$551,111

100.78%

UNITS

AVERAGE PRICE

LIST TO SALES PRICE

townhouses

9,928

$282,224

99.97%

UNITS

AVERAGE PRICE

LIST TO SALES PRICE

condos

1,531

$296,138

98.8%

UNITS

AVERAGE PRICE

LIST TO SALES PRICE

FINANCING BREAKDOWN
conventional

10,059

va

952

cash

4,690

FHA

2,971

private

368

usda

0

trade

10

owner financed

17

other

634

location data

lets take a look at where people are buying in all market segments

BALTIMORE, MD
Top Units By Town

BALTIMORE
COLUMBIA
ELLICOTT CITY
PARKVILLE
DUNDALK
OWINGS MILLS
LUTHERVILLE TIMONIUM
MIDDLE RIVER
CATONSVILLE
TOWSON

8,513
1,012
905
614
589
546
534
472
459
450

#1
#2
#3
#4
#5
#6
#7
#8
#9
#10

Top VOLUME By Town

Baltimore
Ellicott City
Columbia
Lutherville-Timonium
Owings Mills
Laurel
Towson
Catonsville
Parkville
Elkridge

$2,235,882,793
$663,355,544
$509,455,441
$294,127,666
$264,017,950
$258,693,787
$225,962,002
$207,720,128
$200,550,558
$179,339,313

#1
#2
#3
#4
#5
#6
#7
#8
#9
#10

hot spots

lets take a look at where people want to be the most

GREATER BALTIMORE
BY NUMBER OF SALES

Canton (Baltimore, MD) - 357
Federal Hill (Baltimore, MD) - 265
Patterson Park (Baltimore, MD) - 173
Belair-Edison (Baltimore, MD) - 172
Hampden (Baltimore, MD) - 150
Locust Point (Baltimore, MD) - 95
Wellington Farms (Laurel, MD) - 84
Fells Point (Baltimore, MD) - 82
Broadway East (Baltimore, MD) - 82
Village of Long Reach (Columbia, MD) - 81

BY AVERAGE PRICE

Kingsley Woods (Ellicott City, MD) - $2,019,480
Worthington Valley (Glyndon, MD) - $1,672,333
Greenspring Valley (Owings Mills, MD) - $1,423,409
Maple Lawn South (Fulton, MD) - $1,398,000
Westmount (Ellicott City, MD) - $1,391,616
Laurelford (Cockeysville, MD) - $1,324,583
Kalmia Farms (Dayton, MD) - $1,290,000
Big Branch Overlook (Dayton, MD) - $1,244,750
The Warfields II (Glenelg, MD) - $1,242,500
Overlook (Cokceysville, MD) - $1,216,643

takeaways
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The Greater Baltimore real estate market is currently experiencing a period of significant expansion, as evidenced by substantial increases in key market indicators. The impressive 34.34% surge in total sales volume, reaching $7.74 billion, coupled with a 24.38% rise in the number of transactions to 19,701, clearly points to a highly active market with robust buyer demand. This surge in activity suggests a healthy and competitive environment, indicating strong interest in properties across the region.

This heightened demand is further reflected in the upward trajectory of average sales prices. The 8.01% increase, bringing the average sale price to $393,056, demonstrates that the market is experiencing price appreciation, likely due to demand outpacing available supply. While the average days on market saw a minor increase of 3.7% to 28 days, this figure remains relatively low, indicating that properties are still selling at a brisk pace. These combined factors solidify the observation of a seller's market, where conditions generally favor those selling properties.

The market's diversity is another key takeaway, illustrated by the contrasting performance of different neighborhoods. While urban areas like Canton and Federal Hill experience a high volume of sales, demonstrating their popularity and affordability, more affluent suburban areas such as Kingsley Woods and Worthington Valley command significantly higher average sale prices. This disparity highlights the market's ability to cater to a broad spectrum of buyers, from those seeking accessible urban living to those desiring luxurious suburban estates. Further analysis, using more detailed data segmented by property type, price range, and specific geographic areas, would provide even more granular insights into the complex dynamics of the Greater Baltimore real estate landscape.

Average Sales Price

$1,377,861
- 0.73%
prior year
$1,388,001

Average List To Sales Price

100.0 %
--
prior year
100.0%

Number of Transactions

prior year
712
+ 16.34%
612

Average Days On Market

31
- 8.82%
prior year
34

THE LUX SPACE

lets take a look at the million dollar markets

WHAT SOLD THIS year

THE TOP 10 SALES

get graphic

lets take a look at the data in the million dollar markets