HIGH INVENTORY?

HIGH INVENTORY?

It was recently reported, in a local newspaper, that over 18,000 homes were actively on the market in metropolitan Baltimore.

18,000!!!!!!!!!, Yes, you heard it right! 18,000.

18,000, is that a high number? If I gave you a number out of context, such as the number 10, you may think that it is not a high number, unless I told you that the number represents how many hamburgers someone ate in one sitting. If I gave you a number, such as 1,000,000, you may think that it is a high number, unless I told you that it represents the number of ants in metropolitan Baltimore.

Let's take a closer look at the 18,000 which represents the number of homes in the Baltimore area, which are on the market. First the Baltimore area includes Baltimore City, and the counties of Baltimore, Harford, Carroll, Anne Arundel, and Howard. Among these areas, there is a total of over 1,000,000 homes. As a percentage, of the total number of homes, the 18,000 which are on the market is about 1.74%. When you consider that on average a house is sold every 5 to 10 years, this percentage is actually rather low. In fact, none of these areas has a high percentage of homes on the market. Here are the numbers for each area: Baltimore City: 2.21%; Baltimore County: 1.30%; Harford County: 1.94%; Carroll County: 1.68%; Anne Arundel County: 1.82%; Howard County: 1.63%. This information is based upon data from the Metropolitan Regional Information System.

My point: STOP READING THE NEWSPAPER!

Call Ron Trzcinski of Zenith Realty at 410-935-5844 for more details on the market.