Is Baltimore, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Baltimore has remained a Seller's Market.
Key Takeaway
Baltimore is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Baltimore, MD
How much do homes in Baltimore, MD cost?
Median Sold Price
$220,000
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Baltimore have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in Baltimore was $220,000 in April 2024, up 2.3% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $162.4K | $165K | +1.6% |
| 2 Bedrooms | $196.3K | $199.9K | +1.8% |
| 3 Bedrooms | $199.9K | $200K | 0.0% |
| 4 Bedrooms | $271K | $272.4K | +0.6% |
| 5+ Bedrooms | $355K | $364.9K | +2.8% |
Summary: Baltimore housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.6%, 2 bedroom homes increased by 1.8%, 3 bedroom homes did not change, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes increased by 2.8%.
Median Sold Price Compared To Nearby Cities
| Brooklyn | $194.7K | $217.5K | +11.7% |
| Halethorpe | $280.7K | $308K | +9.7% |
| Dundalk | $211.7K | $224.2K | +5.9% |
| Gwynn Oak | $276.3K | $289.9K | +4.9% |
| Baltimore | $215K | $220K | +2.3% |
Housing Supply in Baltimore, MD
How many homes are available in Baltimore, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3,072 | 3,346 | +8.9% |
Summary: The Baltimore real estate market had 3,346 homes for sale in April 2024, a 8.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 83 | 99 | +19.3% |
| 2 Bedrooms | 643 | 685 | +6.5% |
| 3 Bedrooms | 1,510 | 1,617 | +7.1% |
| 4 Bedrooms | 577 | 650 | +12.7% |
| 5+ Bedrooms | 259 | 295 | +13.9% |
Summary: The Baltimore housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 19.3%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes increased by 13.9%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 648 | 598 | -7.7% |
Asking Price vs. Sold Price
198 Homes Were Sold
Under Asking
143 Homes Were Sold
At Asking
257 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Baltimore, you could pay more than the asking price. 43% of homes here sold above asking price last month.
Summary: A total of 598 homes were sold or pending in Baltimore in April 2024, down by 7.7% month-over-month. Of the 598 sold homes, 33% were sold under asking, 24% were sold at asking, and 43% were sold over asking.
Days on Market for Baltimore, MD
How long does it take to sell a home in Baltimore, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 37 Days | 36 Days | -4.8% |
Summary: Homes in Baltimore had an average of 36 days on market in Apr 2024, down by 4.8% compared to last year.
Breakdown of Home Sale Times
394 Homes Were Sold
Under 30 Days
129 Homes Were Sold
In 30 - 90 Days
75 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Baltimore are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 598 homes were sold in Baltimore; 66% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
