Catonsville, MD Real Estate Market Report May 2016
Let's take a look at the major indicators for the Real Estate market in Catonsville for May 2016!
Indicator #1 - Home Prices
The Real Estate Market in Catonsville, MD is showing an small decrease in average home prices, something we tend to see with historic areas from time to time. This can be a great opportunity for buyers looking to buy that first home without breaking the bank. The Average Sold Price (ASP) decreased by 5% from this time last year to $278,668.
Are you thinking about putting your Catonsville home on the market this year - contact EPIK Home Group now for our professional estimate of your homes' current value and suggestions for how and when to put your home on the market.
ALERT - If you have been thinking about buying for more than a year - now is the time as interest rates remain low and inventory is moving! Contact us for information on How to Get Ready to Buy (or How to Get Ready to Sell if you also have a home to sell!)
Indicator #2 - Days on Market
This month's average days on the market dropped to 47 days, steady from this time last year which saw averages around 48 days. This is an excellent indicator of Real Estate Market health for Catonsville, MD. This is what you want to see - Buyers are actively seeking them out and putting in contracts. With an Original List Price (OLP) to Sold Price (SP) steady at 97.3%, there is no mistake, Catonsville homes are being priced well, and being snatched up quickly.
Indicator #3 - Active Listings
79 new home listings came on the market this month, a sizable decrease of 32% from this time last year. There are only currently 126 active listings in Catonsville, MD - this may work to the advantage of sellers as buyers have less inventory to choose from in this market. With only 49 new contracts written this month, buyers are definitely looking at all their options, and are coming prepared to bid higher for hot homes.
Why Live in Catonsville?
Catonsville has it all with great schools, walkable local shops and restaurants and excellent access to jobs in Columbia, Baltimore and Washington. Our area is so wonderful that many people do not move out once they move in! Using a local Realtor like EPIK Home Group is a great idea - we live here and are in touch with many homeowners even before they are ready to sell!
Love getting educated about Real Estate? Here are more details of the current Catonsville Market:
Would you like to live in Catonsville? Click here to check out the Catonsville MD Real Estate active listings right now!
Feel free to save this link, it updates as the Catonsville market changes so you will always have the live market update.
Do you already live in Catonsville? Keep track here of what homes are selling for in Catonsville - because selling prices affect your home's value as well!
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