Whether you are buying or selling a home in Baltimore County in 2023, it’s important to know the state of the Baltimore County housing market. Why? Because the state of the market will impact your real estate transaction in every way, from the price paid to the terms of the sale.
Knowing what type of market you are in can gain you advantages when buying or selling a home in 2023. Because the market fluctuates, it’s important to have the most up-to-date information possible. Here we explore the 2023 Baltimore County housing market and let you know what to expect in the new year.
What’s a Buyer’s Market Versus a Seller’s Market in the Baltimore County Housing Market?
There are two main types of markets: a buyer’s market and a seller’s market.
A buyer’s market favors the homebuyer. The demand for houses is low and the supply of houses is high, giving the homebuyer ample choices to find their dream home. Houses also sell more slowly and for more modest prices than in a seller’s market. The homebuyer will also have the upper hand when it comes time to negotiate the price and terms of the sale.
A seller’s market, on the other hand, favors the home seller. There is high demand from homebuyers with less supply. Homes tend to sell quickly and for higher prices. The home seller has the advantage in a seller’s market so they have greater power to negotiate the terms and price.
Is Baltimore County a Buyer’s Market or a Seller’s Market?
As 2022 came to a close, Baltimore County’s housing market was a seller’s market. The beginning of 2023 sees the market continuing as a seller’s market.
What does this mean for you? You can expect for the number of homes available for sale to remain low and demand for those houses to remain high. Because sales occur quickly, it’s important as a prospective buyer to get to listings first to beat out the competition. At Your Home Sold Guaranteed Realty - Vinny Steo we give homebuyers priority access to all the hottest listings in Baltimore County so you can be one step ahead. We are also experienced negotiators who can advocate on your behalf to get a reasonable price on a fantastic home.
But it’s not just home buyers that can benefit from our services – home sellers in a seller’s market can maximize their profit and greatly reduce the amount of time their home is on the market by working with us. We’ll market your home aggressively to accelerate the sale process, getting you the price you want in the shortest amount of time.
Buying or Selling a House in Baltimore County
Whether you are buying or selling a house in Baltimore County, the knowledgeable real estate team at Your Home Sold Guaranteed Realty - Vinny Steo can ensure that your real estate transaction is a success and your experience is hassle-free.
Get started with our world-class services today by calling us at 410-220-0016 or completing the form below. Don’t wait – contact us today.