DataMarkets & Economy

Baltimore housing market rising, despite distressed past

MRIS Chairman of the Board Cindy Ariosa provides the what and where of Baltimore’s rising market
  • Baltimore's median sales price hit $275,000 in June, a 5.8 percent year-over-year increase and 5 percent month-over-month rise.
  • New listings are up 5.8 percent since last June.
  • Healthy job market, homebuyer tax credits and affordability are bringing more millennials and baby boomers to the city.
  • Canton, Fells Point, Camden Yards and Remington are hot neighborhoods at the moment.

The Baltimore housing market is seeing surging prices, fewer days on the market and plenty of new listings, according to MRIS. Charm City is blossoming, notwithstanding the fact that residual foreclosures remain high. According to the latest MRIS Baltimore housing market report, June's median sales price of $275,000 represented a 5.8 percent year-over-year increase and 5 percent month-over-month rise. This is the highest median price of any June since before the recession. Soaring interest, inspired by a low barrier of entry, has inspired retailers, big brands and a slew of residential development within the Baltimore housing market. New listings are also up 5.8 percent since last June, the report says. Inman with Senior Vice President of Long & Foster and MRIS Chairman of the Board Cindy Ariosa for some first-hand insight. Ariosa oversees Long & Foster’s 35 offices across Maryland. Ariosa’s comments have been edited for clarity.   June hel...