The Towson Town Center Mall has been undergoing a tremendous transformation. For about two and a half years, construction had taken over that central part of Towson. A new high end wing was added, and just last week, a Louis Vuitton store opened its doors.
One question that has been in my mind, besides if the Baltimore marketplace can support a luxury store of this caliber, is whether this store, or the high end wing in general has had any effect on Towson House Values?
The new wing was completed October of 2008. When reviewing statistics for Towson Real Estate, October 2008 showed an upward trend as did November and December. More houses sold, and for the most part, average sales prices were up. 2009 has dropped a bit in the 21204 zip code, but not a large amount. Meanwhile, Baltimore County in general showed a drop during these same months.
I am sure there is no direct correlation, I just find the data interesting. I will keep an eye on the trends in Towson Real Estate!