Well it has been another month and for me it has been the busiest month of the year. Lots of new homebuyers-especially first time homebuyers!
Since Dundalk is still one of the most affordable communities in Baltimore County and with interest rates inching up very slightly-finding a new home or that first home is a task of choice for many!
May started off with a bang and just kept going! For the 31 day period there were 67 homes sold or put under contract----this is up 34% over Aprils 50 sales!
With 186 active listings as of June 4-there is only about 2.78 months worth of inventory on the market-this keeps Dundalk is a very solid sellers market. Here is the major difference between current sales and sales of say....2005.
2005-Homes were selling in DAYS versus weeks:Homes were getting multiple offers at near full price and no closing cost help from the seller (seller subsidy) Many first time home buyers became frustrated and decided not to buy.
Today average days on market are above 40-while 31 of the 67 homes sold offered or gave a seller subsidy. The Average subsidy was around $6000 with some sellers paying ALL of the buyers closing costs! This is great news for the first time buyer that has little cash saved in the bank but can afford house payments about the same as rent!
The average list price of the 67 was $192,378 with an actual sold price of $188,923 or 98% of list!
The market is primed for the first time buyer to find a great new home in the Dundalk area!
For any Real Estate information or questions on buying or selling a home in Baltimore County contact:
Stephen Luckett-Fairfax Realty
Selling Maryland 1 house at a time!
*All statistics from Metro Regional Information Systems (MRIS)
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