Why Slowing Home Price Growth is Great News for Baltimore Buyers

If you've been holding off on buying a home because prices were skyrocketing, here's some good news: that frantic pace is finally slowing down. While home prices are still increasing, the growth is much more manageable—giving buyers like you a better shot at homeownership.

📈 National Home Prices Are Stabilizing

According to Case-Shiller, home prices rose nationally 3.8% year-over-year in November, a big shift from the double-digit jumps we saw in 2021 and 2022. This slower, steadier growth makes buying a home feel more realistic again. This is what I talked about here as well. How does that compare to a few predications that were made in late 2023? Look back here.

🏡 The Baltimore Market: What You Need to Know

Of course, all real estate is local, and Baltimore’s market is seeing some interesting trends:

• Baltimore City: Median home price hit $205K, up 9.8% from last year. Homes are selling in about 21 days.
• Baltimore County: Median home price climbed to $323K, up 10.1%, with homes flying off the market in just 12 days.

This means buyers still need to act fast, but they’re not facing the same frenzy as previous years.

💡 Why This Matters for Buyers

The slower price growth benefits buyers in a few key ways:

✔ Less Sticker Shock: Prices aren’t jumping overnight, making budgeting easier.
✔ More Time to Decide: Homes aren’t selling in a matter of hours, so you can make informed choices.
✔ Still a Strong Investment: Prices are rising steadily, so your home will still build value over time.

🔍 Local Market Trends Matter

While national stats paint a broad picture, Baltimore’s real estate market varies by neighborhood. Some areas are cooling off, while others remain in high demand. That’s where working with a local expert—like me—can give you the edge in finding the right home at the right price.

📞 Thinking About Buying? Let’s Talk.

If you’re ready to explore your options, I can help you navigate Baltimore’s market and find the best opportunities. Let’s chat about your homebuying goals—reach out today!