Investors and Homeowners See The Value in Baltimore City
Let's look at the most recent data. In a comparison of sales of homes in Baltimore City for June 2019 versus June of 2018 here are the results:
June 2018: Average Sales Price: $205,199
June 2019: Average Sales Price: $235,379
Increase: 14.7%
June 2018 Median Sales Price: $174,350
June 2019 Median Sales Price: $199,950
Increase: 14.7%
Here is data for specific houses from one middle class neighborhood, Belair Edison. This data shows homes which were purchased by investors, nicely renovated, and then sold to homeowners, not with government handouts, but with actual loans that are typical of those used throughout the country.
Addresses have been left out to protect the privacy of the homeowners.
--- Purchased in 1/2019 for $64,000; resold as a renovated home in 7/2019 for $127,800.
--- Purchased in 5/2018 for $52,000; resold as a renovated home in 3/2019 for $133,900.
--- Purchased in 10/2014 for $29,900; resold as a renovated home in 4/2019 for $133,000.
--- Purchased in 1/2015 for $48,360; resold as a renovated home in 3/2019 for $112,500.
--- Purchased in 1/2018 for $55,000; resold as a renovated home in 6/2019 for $110,000.
--- Purchased in 11/2017 for $20,000; resold as a renovated home in 4/2019 for $130,000.
--- Purchased in 4/2014 for $31,900; resold as a renovated home in 5/2019 for $110,000.
--- Purchased in 4/2018 for $50,000; resold as a renovated home in 4/2019 for $138,000.
This is a very small sample from one neighborhood. This is typical of what is happening throughout Baltimore City.
It is easy to find a picture of a run down house, post it, and then act like that is fully representative of Baltimore City or to just spout off some nonsense in a tweet which also does not represent the City of Baltimore.
This leads to nothing.
As the sayings go: "If you don't have anything good to say, then don't say anything at all." or "If you are not a part of the solution, then you are a part of the problem."
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