Is Baltimore, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$219,999
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Baltimore have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Baltimore was $219,999 in March 2024, up 2.5% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $160K | $162.5K | +1.6% |
| 2 Bedrooms | $199.9K | $199.6K | -0.2% |
| 3 Bedrooms | $199.7K | $200K | 0.1% |
| 4 Bedrooms | $271.5K | $269.9K | -0.6% |
| 5+ Bedrooms | $350K | $367.2K | +4.9% |
Summary: Baltimore housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.6%, 2 bedroom homes decreased by 0.2%, 3 bedroom homes increased by 0.1%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 4.9%.
Median Sold Price Compared To Nearby Cities
| Brooklyn | $190K | $214.5K | +12.9% |
| Halethorpe | $280.7K | $300K | +6.9% |
| Gwynn Oak | $277.5K | $289.9K | +4.5% |
| Dundalk | $212.5K | $221.5K | +4.2% |
| Baltimore | $214.6K | $219.9K | +2.5% |
Housing Supply in Baltimore, MD
How many homes are available in Baltimore, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6,939 | 7,207 | +3.9% |
Summary: The Baltimore real estate market had 7,207 homes for sale in March 2024, a 3.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 166 | 159 | -4.2% |
| 2 Bedrooms | 1,398 | 1,441 | +3.1% |
| 3 Bedrooms | 3,442 | 3,550 | +3.1% |
| 4 Bedrooms | 1,328 | 1,415 | +6.6% |
| 5+ Bedrooms | 605 | 642 | +6.1% |
Summary: The Baltimore housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 4.2%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 6.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 549 | 517 | -5.8% |
Asking Price vs. Sold Price
181 Homes Were Sold
Under Asking
125 Homes Were Sold
At Asking
211 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Baltimore, you could pay more than the asking price. 40.8% of homes here sold above asking price last month.
Summary: A total of 517 homes were sold or pending in Baltimore in March 2024, down by 5.8% month-over-month. Of the 517 sold homes, 35% were sold under asking, 24% were sold at asking, and 41% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 39 Days | 36 Days | -9.1% |
Summary: Homes in Baltimore had an average of 36 days on market in Mar 2024, down by 9.1% compared to last year.
Breakdown of Home Sale Times
340 Homes Were Sold
Under 30 Days
112 Homes Were Sold
In 30 - 90 Days
65 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 March 2024, 517 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.
