Baltimore Real Estate Sales Down in May 2010

Baltimore real estate sales were down in May 2010, a noted amount after the Homebuyer Tax Credit ended.

As noted from MRIS, the local Multiple Listing Service, pending sales decreased 13.7% compared to May 2009. April 2010 had 16,089 contracts written. May had only 9,527, which is 6,562 less!

The good news is that the homes that are on the market took less time to sell on average.

The continuation of the not-so-good-news is that for the most part, prices were lower.

View the full 13 page May 2010 Baltimore real estate Market Indicators report.

I will have more detailed information on Baltimore County real estate and Baltimore City market trend indicators coming soon.

This Month in Real Estate May 2010

This Month in Real Estate May 2010 is here!

April 30, 2010 marked the end of the Homebuyer Tax Credit. Though there was an small uptick in sales from qualified homebuyers, this does not truly mean the end of the spring market for sellers who are currently on the market or getting ready to go on the market.

Three tips are given in the video for homesellers to make their house ready for sale and more marketability.

1) Price it right. Be ahead of the curve and price more aggressively than the ones recently sold in your neighborhood.
2) Get a pre-sale home inspection. Then you can fix things up front and have your house ready for buyers without worrying about what may pop up during an inspection and cause re-negotiations.
3) Consider all offers. Notice they say “consider”. Sometimes a lower offer than you wanted or expected may have better terms and conditions than one later on. Keep in mind that an offer with a lot of contingencies or conditions has a more likelihood of something not going correctly than one that has less.
Finally, contact a local real estate professional.

For Towson real estate professional advice, contact me today.