Home Prices Up Per Case-Shiller Report

Home sales are trending up across the United States, according to Case-Shiller, and Baltimore County is with the trend.

Home prices were up in many cities, as a Case-Shiller/S&P report showed as of July 2012.

In Baltimore County, we trended along with the country in general.

From July 2011 to July 2012, median home prices in Baltimore County were up 13.8% to $216,250 from $190,000, according to RBI (Real Estate Intelligence,) who uses the local MLS (MRIS) to run statistics.

New listings were down, while the number of pending sales was up. This is generally a sign of recovery as well, since the less homes on the market means there is not as much competition for sellers in finding a buyer for their house.

Individual towns within Baltimore County varied a few percentages either up or down from the same point last year. Timonium prices were down slightly, while Towson prices were down over 10%. Hunt Valley/Cockeysville showed a 7.25% improvement, though, which is part of how the County's overall numbers took shape.

Real estate is very local, and these numbers support that fact. A neighborhood in Cockeysville can see its' average sales price rise, while one in Hunt Valley may not.

The general feeling, though, is that these trends are a good thing in terms of housing recovery after the bubble burst a few years ago. How much of a recovery, or how long it will take is unknown.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.


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