The Baltimore metro market showed positive results this quarter after several quarters of mixed performance. Yearly statistics show a modest increase in prices since the 2nd quarter of 2009, and improvement in both volume and days on market. It is too soon to declare the Baltimore metro area housing market in recovery, but the remainder of 2010 may herald recovery.
Baltimore City: prices rose 3.2% in the 2nd quarter of 2010 from a year ago. The city’s low average sales price of $165,959 tends to contribute to volatility in percentage changes.
The Northern suburbs: prices were down slightly, by 0.5% from one year ago. The average sales price in the Northern suburbs for the 2nd quarter of 2010 is $274,825
The Southern suburbs showed an increase of 1.5% compared to the 2nd quarter of 2009. The average sales price in the Southern suburbs in the 2nd quarter is $372,205.
As a whole, Baltimore metro prices rose 0.9% from one year earlier. The ratio of inventory to sales ticked down by 0.2 months to 7.7 months during the 2nd quarter. Unit sales volume in 2nd quarter 2010 totaled 7,211 units, an increase of 21.5% over the same quarter in 2009.
Reported by MRIS
