A Look at South Baltimore Real Estate Market Stats

| May 8, 2017 | 3 Comments

Let’s take a look at some South Baltimore real estate stats via Redfin.

The following is a look at the median real estate sale price over the past year for the different South Baltimore neighborhoods that Redfin calculates. Each median statistic is from a 90-day period calculated by Redfin that ends on the last day of the stated month. As highlighted in SouthBMore.com’s coverage of South Baltimore real estate, in many of these neighborhoods you can find properties listed for less than $250,000 and near or more than $1,000,000. While high-end sales can bring the median up, “shells” (or properties in need of a complete rehab) can bring the median down.

Given that, the following numbers should be taken with a grain of salt, but do provide an interesting overview of South Baltimore real estate.

Federal Hill

Median March 2016 – $318,000

Median March 2015 – $276,000

Highest Median in last 12 Months: $378,000 – January 2017

Otterbein

Median March 2016 – $257,000

Median March 2015 – $246,000

Highest Median in last 12 Months: $360,000 – November 2016

South Baltimore Neighborhood

Median March 2016 – $302,000

Median March 2015 – $276,000

Highest Median in last 12 Months: $325,000 – December 2016

Federal Hill South/Riverside

Median March 2016 – $310,000

Median March 2015 – $310,000

Highest Median in last 12 Months: $337,000 – May 2016

Locust Point

Median March 2016 – $365,000

Median March 2015 – $405,000

Highest Median in last 12 Months: $415,000 – May 2016

Hollins Market

Median March 2016 – $39,000

Median March 2015 – $63,000

Highest Median in last 12 Months: $98,000 – January 2017

Pigtown 

Median March 2016 – $93,000

Median March 2015 – $42,000

Highest Median in last 12 Months: $129,000 – July 2016

If you look at the number of home sales for these areas, the most sales occurred during the summer months and the least in the winter. Given that, we are likely approaching an active time in the market.

Inventory was also the highest in the summer, but has been steadily going down since that time. If inventory remains low, but interest increases again, jumps in value can be expected.

According to Redfin, there are currently 2,469 Redfin users looking at homes in the 21230 zip code and the median listing price is $294,250.

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About the Author:

Creator of SouthBmore.com and resident of SoBo. Graduate of Towson University and owner of Incept Multimedia, a full service video production company. Diehard Ravens and O's fan, beach volleyball enthusiast, dog lover and "bar food" foodie. Email me at Kevin@InceptMM.com and follow me on Twitter at @SoBoKevin.
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  • Mpc

    You refer to the median as an average. Checking to see whether you intended to include the calculation as a “mean” rather than “median.” Thanks.

    • Kevin Lynch

      Thanks. Meant to say 90-day period instead of average.

  • Chris Glen

    I think you’re confusing median with mean. The median statistic is actually influenced very little by high-end or low-end outliers. While the mean is highly swayed by them. The purpose of using the median here is tonactually mitigate against that.