The Baltimore market showed continued signs of renewal in the 3rd quarter of 2009 after an optimistic 2nd quarter. Prices showed decent growth from the previous quarter, and homes spent less time on market than in the 2nd quarter. However, the Baltimore market is still weaker than a year ago; Baltimore's housing market may be in the very early phases of a recovery.

Baltimore City showed the most improvement again this quarter: prices rose 9.3% in the 3rd quarter of 2009 from the previous quarter. Baltimore City also clocked the least severe yearly declines; prices in the 3rd quarter were 6.6% lower than a year ago. The city's low average sales price of $175,791 tends to contribute to volatility in percentage changes.

The Northern suburbs posted the only quarterly price decline in the region; prices fell slightly by 0.8% from the 2nd quarter. Prices in this area were down 9.1% from one year ago. The average sales price in the Northern suburbs for the 3rd quarter is $273,823.

The Southern suburbs showed a modest gain of 1.4% in the 3rd quarter. Prices were down 9.3% from the 3rd quarter of 2008, the steepest decline in the region. The average sales price in the Southern suburbs in the 3rd quarter is $371,954.

As a whole, Baltimore metro prices were up 3.2% from 2nd quarter 2009 but down 7.0% from one year earlier. The ratio of inventory to sales ticked up by 0.9 months to 8.8 months at September 2009. Annualized, unit sales volume through the first three quarters of 2009 is 93.8% of the 2008 total volume.

Information provided by Housing Trends Report, Delta Associates.

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1 Comments on Housing Market Report for Baltimore, Northern and Southern Suburbs, 2009

DEC
14
2009
952,638 Points 93 Featured Posts Outside Blog Called Shot Master

Sounds very positive.  Is inventory down?  It has really dropped in Atlanta.
6:59pm • #1


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