We believe in providing the public with good & accurate information that directly relates to our real estate market here in Owings Mills, Reisterstown, Westminster, and surrounding areas. Why? Because, we feel it is our job as the community experts, with our fingers on the pulse of the market, to be able to provide a FREE resource to our community. Informed buyers & sellers make good decisions, and good decisions result in a stronger, easier to work with market! With that, we proudly present a quarterly update on the Baltimore economy and outlook for our local real estate community. You can expect an analysis of the Baltimore Economy and an examination of the region's housing data. Just another outlet that you can use anytime for FREE to help you make informed real estate decisions! Of couse we are always here to help and warmly welcome your questions, concerns, comments, and suggestions! Thanks again for visiting and we look forward to hearing from you! 

2009 Baltimore Area Economy & Outlook
 

As we begin to stabilize and along the road to recovery, here are some facts regarding the real estate market both locally and nationally: 

* Pending home sales (contracts signed) rose for the 5th consecutive month in June, marking the 1st time this has happened since 2003  

* Distressed sales (foreclosures & short sales) accounted for 36% of all sales during the 2nd quarter  

* Thanks to the 1st time home buyer tax credit, 1st time buyers accounted for 1/3 of all transactions during the 2nd quarter  

* A family earning the nation's median income of $64k/year could afford 72.3% of all homes sold in the US during Q2 2009

* Baltimore Metro real estate market experienced 1.7% growth in price in 2nd quarter from the 1st quarter  

* Baltimore Q2 total sales are up 63.5% from the Q1  

* Q2 days on market dropped 15 days from Q1, locally  

* Sales pace (months supply of inventory) shaved off 4 months from the same quarter last year (meaning we seem to be moving towards a more balanced market)  

* Homes priced under $250k have experienced gains in single family sales during Q2 2009 from Q2 2008  

* MD had the 8th highest increase in the country in total sales in Q2 2009 from Q2 2008

* Unemployment rate in MD is 7.6% while the national rate has increased to 9.7%  

* It has been estimated that $63,000 is entered back into the economy via truck rentals, trips to home improvement stores, income to contractors/practitioners, etc. with each home sale 

Local Quarterly Real Estate Update & Outlook by County & Zip Code 

Click on a County to get 3rd Quarter Housing Statistics on Your Community 

If you have any questions regarding our local real estate market & how it may affect you, please don't hesitate to contact us anytime. We are hear to help provide good information, so you can make good, confident decisions!
Thanks for your time and for visiting our website! 

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