Local Agents Offer Advice on the Baltimore Real Estate Market
Local Agents Offer Advice on the Baltimore Real Estate Market
Baltimore, MD (PRWEB) November 19, 2011
Homes.org, a fast growing real estate search portal, spoke with agents in the Baltimore, MD area to get an overview for how the real estate market is performing. “The Baltimore market is doing better than other regions because our job market is healthier than other areas of the country. There are many people relocating to this area for jobs that are associated with the growth at Ft. Meade in Anne Arundel county,” says Wendy Slaughter, M.S.B, SFR and Certified Luxury Home Marketing Specialist for The Wendy Slaughter Team of REMAX Advantage Realty in the central MD region.
“My advice for buyers is simple: Be sure you are pre-approved by a high quality, respected lender and make an offer! Rates are low, there are great homes out there and this is the time to take action.” In fact, home prices fell 6% in the Baltimore area in October meaning it’s even more affordable to by a home now than within the last few months.
Slaughter’s advice for sellers is a little more complex. “Our top priority for our listings is condition. We often recommend our sellers go above and beyond simple staging and actually replace carpet, install granite counters, replace outdated light fixtures and freshen the house with current paint colors. In addition, professional photography is a must. Over 90% of buyers search online so the photos are critical. Finally – the big one – price. Our goal is to have our sellers show better than the competition but be priced in line with their competitors. Buyers choose a home by comparison shopping. Be the best on the block and priced well and you’ll sell first.”
Baltimore Real Estate Market October Information and Statistics
County: no county, Baltimore is an independent city
Zip Codes in the City: 21201–21231, 21233–21237, 21239–21241, 21244, 21250–21252, 21263–21265, 21268, 21270, 21273–21275, 21278–21290, 21297–21298
Population: 620,961
Total Households: 294,579
Homes Sales in October: 325
Median Home Value (2005-2009): $ 152,000
Median Sales Price: $ 83,000
Average Sales Price: $ 126,008
Average Sold to Original List Ratio: 83.54%
Average Days on Market: 149
Foreclosures: 1 in 2,046
Renters vs. Owners: 48.9% vs 51.1%
Type of Home:
13.7% Single Family
37% Condo
49.3% Other
Popular Baltimore Neighborhoods Seeing Improvements:
Bolton Hill
Broening Manor
Federal Hill
Fells Point
Guilford
Homeland
Otterbein
Parklane
Riverside
Tuscany-Canterbury
To learn more about real estate in Baltimore or homes for sale in Maryland, please visit: http://www.Homes.org
About Homes.org
Homes.org is a fast growing real estate search portal that offers users much more than MLS listings. Homes.org gives users access to a rich collection of resources, including but not limited to, real estate listings, home owner finance tools and home service tools. Homes.org brings buyers, sellers and renters important information about the current markets and intelligent tools by partnering with real estate professionals from around the country. Homes.org is a subsidiary of Star Nine Ventures, Inc. headquartered in Austin, TX.
About Star Nine Ventures®
Star Nine Ventures® is an Austin-based, marketing-driven venture creation company targeting a wide range of national business-to-consumer online marketplaces. Star Nine’s core mission is to build businesses that provide exemplary consumer experiences and unparalleled customer service.
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