Most home owners and potential buyers know that spring through early summer is the most active period for the buying and selling of real estate.
In Baltimore County, this is often due to families allowing for a children to finish out their school year before moving to a new school district. In Baltimore City, however, this dynamic is less common, making for an active real estate market all year long.
Per the statistics, Baltimore City saw a 23-percent drop in home sales from August to September, the first full month of school, while Anne Arundel County saw a 29-percent drop in the same time period.
So, if city properties don’t see the largest sales drop in September, when do sales tend to start to reach a low point? Over the last two years, December has been the month with the fewest number of properties to go under contract. (Looking at properties under contract is a better indicator of buyer activity than the number of sold properties because a buyer could be under contract for months before an actual sale takes place.)
Now lets look at the spread between the months with the highest number of accepted offers and the lowest number, in the city and surrounding counties:
Baltimore City: 46-percent decrease (April 2013 vs. December 2013)
Baltimore County: 51-poercent decrease (May 2013 vs. December 2013)
Anne Arundel County: 53-percent decrease (May 2013 vs December 2013)
Harford County: 59-percent decrease (May 2013 vs December 2013)
Howard County: 65-percent decrease (April 2013 vs December 2013)
More stats: In Baltimore City, the previous two years saw a 23-percent decrease in properties going under contract from November to December. These December decreases were followed by substantial increases in both years: 30 percent for January 2012 and a 22 percent for January 2013. This shows how active Baltimore City’s real estate market is; there is really only one”down” month in the entire year.
By no means am I a statistician, but it seems evident that Baltimore City buying and selling activity stays more consistent throughout the highest months and lowest months of the year. The one constant between Baltimore City real estate activity and that of the surrounding counties is that December is the least active month.
Mario Valone is a real estate agent with Coldwell Banker Inner Harbor. He can be reached at email@example.com or 410-327-2200, and is happy to answer questions.