{"id":46336,"date":"2024-07-30T09:31:59","date_gmt":"2024-07-30T16:31:59","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=46336"},"modified":"2026-04-06T00:38:11","modified_gmt":"2026-04-06T07:38:11","slug":"home-values-in-baltimore","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/home-values-in-baltimore\/","title":{"rendered":"Home Values in Baltimore: Current Market Insights"},"content":{"rendered":"

Are you wondering what your Baltimore home is worth in today’s market? Whether you’re looking to sell, want to cancel PMI<\/a>, or are simply curious about the current home values in Charm City, understanding your home’s worth can help you make better financial decisions.<\/p>\n

This article will cover the latest home price trends in Baltimore, provide methods to get an accurate home value estimate<\/a>, and share effective strategies to boost your home’s value. We’ll also highlight useful tools to help you get the best price for your Baltimore home when it comes time to sell.<\/p>\n\n\n\n\n\n

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\n \"homelight\n <\/div>\n \n

Already Own a Home? What's It Worth Now?<\/h3>\n

Home values have rapidly increased in recent years. How much is your current home worth now? Get a ballpark estimate from HomeLight’s free Home Value Estimator.<\/p>\n \n

\n Get Estimate<\/a>\n <\/div>\n <\/div>\n<\/div>\n\n\n

Editor\u2019s note: This post is for educational purposes and is not intended to be construed as financial advice. HomeLight always encourages you to consult your own advisor.<\/em><\/p>\n

<\/div>\n

Current home values in Baltimore<\/h2>\n

Since 2020, home values in Baltimore have jumped by 29%. Back in 2020, the average home sold for $179,500. As of June this year, that figure has risen to $241,000<\/a>, based on data from the Maryland Realtors Association.<\/p>\n

\u201cPrices hit new record highs in the city of Baltimore, as well as in Baltimore and Howard counties,\u201d notes Bright MLS\u2019 June 2024 Housing Report<\/a>.<\/p>\n

\u201cFalling rates in the second half of 2024 will bring both more buyers and more sellers into the market. Prices in the Baltimore metro area will continue to rise, but at a slower pace as buyers will begin to have more leverage in many \u2014 though not all \u2014 local markets in the region.\u201d<\/p>\n

This table highlights the marked increase in home values within the City of Baltimore over the last five years:<\/p>\n\n\n\n\n\n\n\n\n
Year<\/strong><\/td>\nMedian home price<\/strong><\/td>\nPercent change year-over-year<\/strong><\/td>\n<\/tr>\n
2024 (June)<\/a><\/td>\n$241,000<\/td>\n+2.6%<\/td>\n<\/tr>\n
2023<\/a><\/td>\n$215,000<\/td>\n-3.4%<\/td>\n<\/tr>\n
2022<\/a><\/td>\n$223,500<\/td>\n+6.4%<\/td>\n<\/tr>\n
2021<\/a><\/td>\n$210,000<\/td>\n+16.9%<\/td>\n<\/tr>\n
2020<\/a><\/td>\n$179,500<\/td>\n+13.5%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source: Maryland Realtors Association<\/a><\/em><\/p>\n

Nationwide, home prices have followed a similar upward trend. The Case-Shiller National Home Price Index reveals that U.S. home prices have risen by 47%<\/a> since 2020. This increase has allowed homeowners to build substantial equity<\/a>, which can be used for purchasing new properties, making home improvements, paying down debts, or saving for retirement. ICE\u2019s Mortgage Monitor report shows that by early 2024, the average mortgage-holding homeowner possesses $299,000 in equity<\/a>.<\/p>\n

For comparison, the table below shows median home prices in cities near Baltimore:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
City<\/strong><\/td>\nMedian home price<\/strong><\/td>\nDistance from Baltimore<\/strong><\/td>\n<\/tr>\n
Catonsville<\/td>\n$428,600<\/td>\n18-35 min (9.4 miles)<\/td>\n<\/tr>\n
Ellicott City<\/td>\n$731,700<\/td>\n24-45 min (13.2 miles)<\/td>\n<\/tr>\n
Towson<\/td>\n$481,700<\/td>\n20-35 min (14.4 miles)<\/td>\n<\/tr>\n
Columbia<\/td>\n$495,500<\/td>\n28-50 min (21.5 miles)<\/td>\n<\/tr>\n
Bel Air<\/td>\n$425,800<\/td>\n35-65 min (27.5 miles)<\/td>\n<\/tr>\n
Eldersburg<\/td>\n$561,700<\/td>\n40-65 min (28.7 miles)<\/td>\n<\/tr>\n
Annapolis<\/td>\n$599,800<\/td>\n40-60 min (30.5 miles)<\/td>\n<\/tr>\n
Aberdeen<\/td>\n$322,100<\/td>\n40-65 min (31.7 miles)<\/td>\n<\/tr>\n
Westminster<\/td>\n$415,600<\/td>\n40-70 min (36 miles)<\/td>\n<\/tr>\n
Havre De Grace<\/td>\n$400,000<\/td>\n40-70 min (37 miles)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Home value averages of multiple public transaction sites\u00a0<\/em><\/p>\n

Typical travel times 8 a.m. midweek<\/em><\/p>\n

Up next, we\u2019ll explain how you can estimate your Baltimore home\u2019s value accurately.<\/p>\n","protected":false},"excerpt":{"rendered":"

Find out how to assess and maximize home values in Baltimore. Learn about current market trends and top tips for selling.<\/p>\n","protected":false},"author":360,"featured_media":46342,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","cybocfi_hide_featured_image":"","footnotes":""},"categories":[320,330],"tags":[],"class_list":["post-46336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-add-value","category-house-value"],"acf":[],"yoast_head":"\nHome Values in Baltimore: Current Market Insights | HomeLight Blog<\/title>\n<meta name=\"description\" content=\"Find out how to assess and maximize home values in Baltimore. 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