Inman news reports Baltimore to be the 11th lowest performing real estate market, with an average 6.4% drop in prices seen in the first half of 2011.
In the Inman article, Clear Capital, whose data was used, predicts a further drop of 2.9% for the remainder of 2011. That part is good news, at least the decline appears to be slowing. Meanwhile, nearby Washington, DC has seen an increase over the same time period.
What does this mean for Baltimore house sales? Sellers must be realistic in their pricing, and understand that prices have changed even in a few months.
For Baltimore homebuyers, this creates a great opportunity. Interest rates are still very low, and prices have dropped since the beginning of the year! With the decline slowing, it may be a great time for a homebuyer to buy!
Let me help guide you through the tough Baltimore real estate market. I’m here to help!