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New real estate report shows positive outlook for Baltimore Metro Area

Home sales surge in July, supply dwindles
Posted at 10:44 AM, Sep 11, 2020
and last updated 2020-09-11 10:44:10-04

BALTIMORE — A newly released Real Estate Market Summary from August, shows a positive outlook for the Baltimore Metro Area.

According to the report by Bright MLS, the median sales price for a home last month was $325.9 thousand, an increase of 12.4 percent, from $289.9 thousand at the same time last year.

The value per square foot went up $7 from last year to $167.

August ended with 4,266 closing sales which was six percent less than July 2020 but 13.3 percent higher than August 2019.

Homes were found to be on the market for just 10 days, which is 16 days less than last August.

However, if you're looking for a new home in the Baltimore Metro Area there aren't as many choices now as there were last year.

In August 2020 there were 4,917 new listings and 4,668 active, whereas in August 2019 there were 5,109 and 9,999 respectively.