Not a revelation really, but I enjoyed the article/stats nonetheless:
Baltimore, Philly housing prices 40% cheaper than DC
https://wtop.com/business-finance/2022/03/baltimore-philly-housing-prices-40-cheaper-than-dc/
The median price of a home that sold in the D.C. metro area in February was $526,000, up 10.6% from February 2021 and near an all-time high, but prices in two of our nearest big city neighbors are considerably less.
In the Baltimore metro, the median selling price last month was $319,000, or 39% less than the D.C. area. And in the Philly metro, the median selling price of $295,000 was 44% below the D.C. region, according to listing service Bright MLS.
Total active listings on the market in the Baltimore area last month were down 12.3% from a year earlier, and 64.3% below February 2020. In Philadelphia, the number of homes for sale was down 34% from a year earlier, and down 63.3% from two years ago.
As a result, there were fewer sales. Closed sales in Philadelphia so far this year are down 6.3% from last year, and down 8.9% in the Baltimore region. Inventory remained fairly steady in both D.C. and Philadelphia compared to the previous month, but the number of listings in Baltimore fell another 5.7%. The number of property showings by real estate agents was down about 8% from a year ago in Baltimore and about 9% in Philadelphia.
The three housing markets aren’t that different, but, particularly for the District itself, there is a distinct difference.
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