By: Jen Goll

Baltimore has suffered through years of low support mixed with very intense competition. However, that’s all about to change.

There’s been a major change in the real estate market, and now, Baltimore is surpassing the nation in what analysts call an inventory recovery. With an increase in active listings of over 35% compared to last year, buyers and sellers are going to have to drastically change their strategies.

(Source: Realtor.com)

Baltimore’s Inventory Spike Ends the Scarcity Era, Giving Buyers More Power

With around 2,800 active listings in Baltimore, buyers are starting to take back power. This is one of the most significant increases the local market has seen in well over 10 years. It’s not just that there are more homes listed, either. Newly listed homes have increased drastically. There were 880 new homes listed in just December, marking a 7.1% increase compared to last year.

Now that more sellers are listing their homes, causing the increase in inventory, buyers can step up their game with more negotiation power and more home options.

Prices Hold Steady While Competition Rises

You’d think with the increase in inventory, you’d see an increase in prices, but that’s not what we’re seeing in Baltimore. Instead, we’re seeing home prices remain relatively stable. Just like inventory levels are defying national trends, so is the median listing price. In December, the median listing was around $229K, a very modest .2% increase over the last year compared to a decline of .6% nationally.

Rather than prices increasing, 15.3% of the listings are actually reducing their prices. While this is just slightly higher than the national average of 12.9%, it seems that some sellers are seeing the writing on the wall and adjusting their prices in anticipation of the increased competition.

Homes Are Sitting Longer on the Market

While there is more inventory, homes are staying on the market longer than they did last year. In December, homes in Baltimore spent around 58 days on the market, an increase of 8.5% compared to last year.

This is still far below the national average of 73 days; however, it’s showcasing the slowdown in the area compared to those extremely fast-paced sales Baltimore has previously seen.

If you’re a buyer, that means you have a little longer to consider your options before committing. If you’re a seller, it means you have to do what you can to stand out in the growing competition.

What This Means for Baltimore Home Sellers

For sellers who have the luxury of flexibility and have updated homes, listing on the market is a great idea. However, when you’re a seller facing restricted timelines, an inherited home, or just tired of being in your home, it might be time to consider alternatives.

The increase in inventory shifts the power away from the seller and into the buyer’s hands.

That’s why sellers choose House Buyers of America for a guaranteed, fast sale. We buy houses As-Is without you needing to do a single repair. You don’t have to worry about staging or even cleaning out your junk; we take care of it all.



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Frequently Asked Questions (FAQs) About Selling Your Home Fast

During a transfer, a new deed is drafted and signed by the seller, transferring ownership of the house to the new buyer. This document is then recorded in the land records with the above-mentioned deed of trust.

We work with your bankruptcy attorney to present a FAIR offer and give you additional money at closing. We present the offer directly to your attorney and work to have the offer accepted by the bankruptcy court. Once the offer is accepted, we ensure that the bankruptcy is released and we buy the property as soon as possible.

Yes, we can work with any seller who needs to move a property quickly for any reason and in any price range. We have purchased million-dollar houses before. 

Yes, we buy apartments, multi-family houses/buildings and land.

No! You have no obligation at all if you submit an information form, show your property to House Buyers or receive an offer to buy your house. You are under no obligation at all. All we ask for is the opportunity to make an offer for your house, you’re in the driver’s seat as to whether you accept the offer or not. You are in complete control. You are only obligated to our service if you have entered into a purchase agreement with us, as with any other real estate transaction.

We need very basic information from you about your house. The number of bedrooms, bathrooms and overall condition of the property is needed. We will also ask you how long you have owned your home and if there are any mortgages or liens against the property.

We offer the maximum amount possible, our offers are very competitive. If our offers weren’t competitive, we wouldn’t have purchased thousands of houses! There is no magic percentage we use, every house is unique. Our Real Estate Consultants take into consideration the age, condition, size, features and location of the home much like an appraiser would. We factor in the costs to repair the house, what other homes in the area are selling for and how long it is taking to sell those homes. These and several other factors are researched to determine a fair offer. 

As soon as we receive your  Online Form, we will review your information and get back to you ASAP (usually within 30-60 minutes depending on when you submit the information).

We work FAST to help ensure that your house doesn’t go to foreclosure. We present you with a FAIR offer to pay off your mortgage before the foreclosure. We help save your credit, avoid foreclosure and allow you to sell your house FAST and FAIR. Due to recent legislation, if you reside in the state of Maryland and are within a certain period of time before your foreclosure sale date, we will introduce you to a Foreclosure Consultant. The legislation mandates that if you are within this certain window that a foreclosure consultant must explain to you all of your options involved in selling your home.

No problem! We can still buy your house as is, even if it has demolition orders scheduled.

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