Real Estate

Why Baltimore? 900 More Homes Sell In The City; Average at $174,900

Baltimore’s Hampden neighborhood – home of a new UrbanLand Company real estate office, gets mention in a breakdown of Baltimore City’s real estate market upswing.

The Baltimore City market continues what can only be called an upswing. 2016 year end results for home sales are in, the city is increasing in appeal to home buyers.

The city of Baltimore saw 6,123 standard home sales last year, a number that is 900 higher than 2015’s total numbers. Standard sales are traditional, owner-occupied home sales, meaning investor purchases and rental property purchases are not counted.  Despite the surge in activity, home prices have stayed relatively affordable at a median of $174,900.

This is all part of a 2016 Year in Review by Live Baltimore, a major local non-profit that promotes home buying and living in the city.

“As with a lot of real estate data, this is performance across the overall core Baltimore urban city market,” said Gerard DiRuggiero, Principal Broker of UrbanLand Company. “Popular neighborhoods like Hampden, Roland Park, Mount Washington, Federal Hill and Canton are seeing their expected growth and popularity levels surge. Everyone expects this. Some of the more surprising features of the data report show that other neighborhoods that are not as well known are seeing large percentage gains in the number of sales and sales prices.”

What’s the reason for the growth? Besides the obvious low housing prices, there’s new retail and entertainment destinations popping up across the city as well as major city initiatives in place to improve neighborhoods and remove blight.

“There are major initiatives sponsored by the city and state going on as a focused effort to demolish, rehab and redevelop under-utilized sites. Those with a background in DC development would be shocked at the sheer volume of investment opportunities available. This is a different landscape than DC with a lot more room for growth. We’re in the middle of real estate office development here for UrbanLand Company; you can capitalize on the Baltimore market as well!”

This is a city for DC investors who want high cash on cash returns. For more info call Gerard DiRuggiero, Principal Broker of UrbanLand Company at 202.759.4114 or use email!

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