BALTIMORE — A real estate database company has found that Baltimore homeowners who sold their property last year received $5,000 over what they paid.
The Baltimore Sun reports Zillow found the return on investment for homes sold in Baltimore in 2016 was 5.4 percent — the lowest for 33 cities within the report.
Zillow senior economist Aaron Terrazas says Baltimore’s housing market has had a slower recovery, resulting in lower investments compared to cities such as Oakland that topped the list with a 78 percent gain.
Live Baltimore executive director Annie Milli says Baltimore’s growth is sustainable and will allow residents to come along.
Zillow says Baltimore homeowners sold their homes quicker than some markets that saw more appreciation, which Terrazas says could be a reflection of younger homebuyers and more investment properties.
Information from: The Baltimore Sun, http://www.baltimoresun.com