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Market Snapshot
Things to Do in Baltimore, MD
Baltimore is the largest city in Maryland and the second-largest seaport in the Mid-Atlantic region, with a long history as one of the country's most important seaports. Fort McHenry, known as the birthplace of the national anthem, sits at the mouth of Baltimore's Inner Harbor. The area around the harbor is home to many shops, upscale seafood restaurants, and attractions like a Civil War–era warship and the National Aquarium. Baltimore has more public statues and monuments per capita than any other city in the country and is home to some of the earliest formally recognized historic districts, including Fell's Point, Federal Hill, and Mount Vernon. Check out the Fort McHenry National Monument and Historic Shrine, the American Visionary Art Museum, the Baltimore and Ohio Railroad Museum, and the Maryland Science Center. Recreational opportunities abound at the Sherwood Gardens, the Patterson Park Pagoda, the Canton Waterfront Park, the Leakin Park, and the Druid Hill Park.
Industries in the Baltimore Area
Baltimore is an established center of medicine and biosciences. It serves as the headquarters for advanced medical treatment and research with two pioneering teaching hospitals, the Johns Hopkins Hospital and the University Hospital. Moreover, rapid growth in the tech sector, in areas like electronics, information technology, telecommunications, and aerospace research, has helped boost the area's economy and create ample job opportunities.
Baltimore Housing Market Conditions
Baltimore has a strong job market, which is good news for market conditions on the housing front. With many government and private sector jobs available in the region, Baltimore's housing market is expected to remain resilient, even in the face of inventory troubles.
Baltimore is struggling with a scarcity of building site inventory. This trend has plagued the city since the pandemic when inventories fell to some of the lowest levels in the country. Because these low inventory levels are expected to continue throughout 2023, and new home options will be lacking, buyers can expect high sale prices.
Compared to similar markets across the United States, Baltimore has been experiencing some of the biggest year-over-year drops in new home construction projects, mostly among detached single-family dwellings. Still, you can still find affordable new homes for sale in Baltimore.
There are plenty of communities in Baltimore, particularly in West Baltimore and East Baltimore. That being said, your options are not limited to the city. You'll find homes located in new home subdivisions in Ellicott City, which is about a half hour drive west of the city.
School Districts in the Baltimore Area
Your kids’ educational advancement is catered to at the Baltimore City Public Schools, comprising 175 individual schools, and serving over 82,000 students. Bask in everything the city has to offer.
Want to Learn More About Moving to Baltimore?
Here are resources that can help you find the perfect new home in the Baltimore area.
- The Best Suburbs Near Baltimore
- First-Time Homebuyer Programs in Maryland
- How to Build a House in Maryland
- The Safest Cities in Maryland
- The Best Cities in Maryland for Retirees
- The Cheapest Places to Live in Maryland
Market Overview: New Homes in Baltimore, MD
Here is a quick overview of new housing developments in the Baltimore area and the new construction market for new build homes in Baltimore:
| Market Name | Baltimore |
| State Name | Maryland |
| Subdivisions | 81 |
| Homes Under Construction | 84 |
| Quick Move-in Homes | 112 |
| Floor Plans | 385 |
| Starting Price | $294,990 |
| Average Price | $794,758 |
| Price Per SqFt | $277 |
| New Home Builders | 31 |
| Leading Builders |
|