Recently, more price reductions have been seen nationally than a year ago.
Zillow released a press release in August 2018 about this trend.
In the Baltimore real estate market, in June 2018, 18.2% of houses had a price reduction. In January 2018, 16.3% of houses on the market in Baltimore had price reductions.
That being said, Baltimore real estate price reductions in June 2017 were at 18.7%, so there was actually a very slight drop in price reductions in our area. Baltimore appears to be bucking the trend!
Baltimore also appears to have year over year home value growth, as well as home value growth from January through June of 2018.
Check out the Zillow report, Baltimore is about halfway through the chart on the press release page.
Zillow’s report shows how real estate is very LOCAL. Though nationally, price reductions have risen from last year at the same time, the Baltimore real estate market is not following the nation’s trend, which can currently be good news for Baltimore homeowners.
For more information on your local Baltimore house value, please contact me. I would be happy to help!