Posted on March 12, 2015 by Corey Hart
Mar

12

2015

Using Big Data Drawn from its $45b Marketplace, RBI Data Identifies
The Most Affordable Neighborhoods for First-time Buyers

BALTIMORE, MD—March 12, 2015--First-time home buyers looking for affordable starter homes this spring can choose from a wide variety of local communities and neighbors in the greater Baltimore market, according to a new listing of 20 Home Buyer Hot Spots from RealEstate Business Intelligence (RBI) based on the latest listings on the Mid-Atlantic Regional Listing Service (MRIS).

Though Baltimore is known nationally as a top market, many buyers are unfamiliar with neighborhoods that feature a wide selection of affordable listings because good prices on starter homes can be found in every county as well as Baltimore City.

“Our list of 20 home buyer hot spots is based on the latest listing data at the hyper local level.  We’ve tried to create a road map for buyers that will expand their horizons to include neighborhoods that may not have considered.  Baltimore is full of attractive and affordable neighborhoods to fit every lifestyle” said John Heithaus, chief evangelist for RBI.

Posted on March 12, 2015 by Corey Hart
Mar

12

2015

Using Big Data Drawn from its $45b Marketplace, RBI Data Identifies
The Most Affordable Neighborhoods for First-time Buyers

WASHINGTON DC—March 12, 20015— First-time home buyers looking for affordable starter homes this spring can choose from a wide variety of local communities and neighbors in the greater Washington DC market, according to a new listing of 25 Home Buyer Hot Spots from RealEstate Business Intelligence (RBI) based on the latest listings on the Mid-Atlantic Regional Listing Service (MRIS).

Often ranked among the nation’s most expensive housing markets, Washington DC is also a mecca for the Millennial generation, many of whom transition from renting to homeownership with the help of affordable homes.

According to a recent Nielsen Study, Washington ranks seventh among cities popular with Millennials and first among East Coast markets and it has been called the fastest growing destination for the Millennial generation. Thousands move to the nation’s capital each year, attracted to its cultural, educational and career opportunities.  

The Washington market also ranks among the top markets in the nation in terms of its median family income, which makes it possible for most Washington area families to qualify for more expensive housing.  According to the Bureau of Labor Statistics, the median income for the Washington Metro is $65,250. To buy a home at $372, 800, with 20 percent down and a 30 year fixed rate mortgage at 3.98 percent, buyers need an annual income of $77,395, according to the National Association of Realtors and mortgage web site HSH.com.

RBI created an index to rank local markets by zip code that incorporates total number of listings below $300,000 and $200,000, saturation of lower priced listings in the hyper local market’s inventory and median price of active listings.

Posted on March 10, 2015 by Corey Hart
Mar

10

2015

February home prices, contracts and closed sales up over 2014 levels; Days-on-market up significantly with increased inventory levels

Rockville, MD – (March 10, 2015) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by Elliot Eisenberg, Ph.D. of RealEstate Business Intelligence (RBI) and is based on February 2015 MRIS housing data

OVERVIEW

The Washington DC Metro housing market enjoyed a strong February, with year-over-year (Y-O-Y) increases in sales, prices, new contracts, inventories and median days-on-market compared to February 2014.  Closed sales increased by almost 1% from February 2014, while prices rose by 4%, new contracts rose by 7.7%, with all categories experiencing a rise, inventories rose 16.6%, and median days-on-market (DOM) rose by 50%.  The median price for single-family detached and townhomes each rose $10,000 to $470,000 and $385,000 respectively, while condos increased by $3,000 to $286,000.

Click here to view PDF version of this report

Posted on March 10, 2015 by Corey Hart
Mar

10

2015

21% gains in closed sales, 25% jump in February contract activity compared to 2014; Prices remain flat

Rockville, MD – (March 10, 2015) – The following analysis of the Baltimore Metro Area housing market has been prepared by Elliot Eisenberg, Ph.D. of RealEstate Business Intelligence (RBI) and is based on February 2015 MRIS housing data.

OVERVIEW

The Baltimore Metro housing market saw large increases in sales, new contracts and inventories compared to February 2014, but a slight decline in prices.  Closed sales of 1,861 increased by 21.1% from February 2014.  Single-family detached median prices dipped -0.9% to $275,000 and townhomes experienced a 14.3% decline in median price to $150,000, while condos rose 0.1% to $185,000.  However, the median price for a non-bank-mediated home increased $5,000 to $260,000.

Click here to view PDF version of this report

Posted on February 10, 2015 by Corey Hart
Feb

10

2015

January home prices, contracts and closed sales up over 2014 levels

Rockville, MD – (February 10, 2015) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by Elliot Eisenberg, Ph.D. of RealEstate Business Intelligence (RBI) and is based on January 2015 MRIS housing data.

 

OVERVIEW

The Washington DC Metro housing market started 2015 on a good note, with increases in sales, prices, new contracts and inventories compared to January 2014.  Closed sales increased by 4.5% from January 2014, and all property segments increased year-over-year.  While single-family detached prices remained flat at $450,000, townhomes and condos increased by 1.4% and 4.7% respectively.

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