Is Baltimore, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Baltimore is a buyer's market

Buyer's
Market

Difference Since February 2023

Since last year, Baltimore has remained a Buyer's Market.

Key Takeaway

Baltimore is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Baltimore, MD

How much do homes in Baltimore, MD cost?

Median Sold Price

$219,676

$159/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$2,590(+1.2%)

Key Takeaway

Homes in Baltimore have sold for 1.2% more than they did a year ago.

Summary: The median home sold price in Baltimore was $219,676 in February 2024, up 1.2% from last year, and the median price per square foot was $159.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $159.9K$160K
0.0%
2 $204.5K$197.4K
-3.5%
3 $200K$200K
0%
4 $269K$273.9K
+1.8%
5+ $350K$368.9K
+5.4%

Summary: Baltimore housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.5%, 3 bedroom homes did not change, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 5.4%.

Median Sold Price Compared To Nearby Cities

Halethorpe
+7.4%
Brooklyn
+4.8%
Dundalk
+3.3%
Gwynn Oak
+3.1%
Baltimore
+1.2%

Housing Supply in Baltimore, MD

How many homes are available in Baltimore, MD?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
6,4566,777+5.0%

Summary: The Baltimore real estate market had 6,777 homes for sale in February 2024, a 5.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 145163
+12.4%
2 1,2841,378
+7.3%
3 3,2253,346
+3.8%
4 1,2471,297
+4.0%
5+ 555593
+6.8%

Summary: The Baltimore housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.4%, 2 bedroom homes increased by 7.3%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 6.8%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
476468-1.7%

Asking Price vs. Sold Price

189 Homes Were Sold
Under Asking

119 Homes Were Sold
At Asking

160 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Baltimore, you may be able to get a good deal. 40.4% of homes here sold below asking price last month.

Summary: A total of 468 homes were sold or pending in Baltimore in February 2024, down by 1.7% month-over-month. Of the 468 sold homes, 40% were sold under asking, 25% were sold at asking, and 34% 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

Feb 2023Feb 2024CHANGE
41 Days40 Days-2.1%

Summary: Homes in Baltimore had an average of 40 days on market in Feb 2024, down by 2.1% compared to last year.

Breakdown of Home Sale Times

260 Homes Were Sold
Under 30 Days

152 Homes Were Sold
In 30 - 90 Days

56 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Baltimore are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 468 homes were sold in Baltimore; 56% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

Newest Listings in Baltimore, MD

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