Baltimore's Sluggish Housing Market Bouncing Back
Updated: Thursday, July 10 2014, 06:44 PM EDT
Baltimore's sluggish housing market is finally bouncing back. New numbers for June show home sales in the Baltimore area were up nearly 3% compared with the same month last year.
According to area realtors more houses sold in June than in any month over the past few years. Realtors credit low interest rates and a "pent up" demand. They say condo sales are very good as well as homes with three bedrooms that sell for between $300,000-$500,000.
One realtor has a warning for buyers.
"The reality is there are several buyers for every house that comes on and they better move a little quicker," Realtor Nora May of Coldwell Banker said. "They got a little lax because they thought that nobody else is going to want to buy it, but now, they're being disappointed or there are several offers in on the same property."
The median price of a home in the Baltimore area is also up roughly 2% more than one year ago.