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Baltimore Real Estate

Baltimore Real Estate

The city of Baltimore is considered to be the largest independent city in the country, and acts as the state of Maryland's cultural center. Due to its location, Baltimore has once been one the major seaports on the East Coast of the United States, acting as a major manufacturing resource as well as the door way to many immigrants.

However, most of its economy is now based in the service industry, being home to Fortune 1000 companies such as Black and Decker and T. Rowe Price. Being close to Washington D.C., it may also prove to be a popular home to those individuals involved in the government and would rather commute to their jobs as opposed to living in the nation's capital city.

When it comes to the Baltimore real estate market, there are several aspects that affect its activity. The current average listing for Baltimore property is about $185,000, with an average sales price of $150,000. Even though there is not much of a difference between these two amounts, these figures are on a decline from previous years. A lot of this activity is directly correlated to the city's notorious crime rates.

Even though crime is declining, the rates are still much higher than the national average, thus having a direct effect on the Baltimore real estate market. Baltimore investment property may prove to be the only positive market currently, which would entail property such as office space. Homes, on the other hand, are Baltimore property that is decreasing in value. However, current Baltimore property values will prove to be much higher than in previous years due to the city's efforts to reduce crime.

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