Baltimore, MD 21224 Real Estate Market Report

ZIP Code: 21224
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Baltimore, MD are 6.3% compared to the 6.0% average observed earlier in 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The neighborhood's primary market indicator, the median sold price of 289,900, signals recent transaction-level value and suggests realized prices remain the central reference for valuation despite mixed signals elsewhere; neutral market temperature and a down price year-over-year trend imply caution for sellers.

2. There is a notable spread between the median listing price of 259,000 and the median sold price of 289,900, which may indicate pricing friction or that competitive bidding drove some final sale prices above asking levels in recent transactions; monitor listing-to-sale behavior for persistence.

3. Slower sales velocity is evident with a median days on market of 164, which suggests longer exposure before closing and that emerging buyer leverage may be present; this aligns with the down rent year-over-year trend and could pressure near-term pricing.

4. Market fundamentals show a median price per square foot of 200 and a median market rent of 2,000, while financing conditions reflect moderate interest rate pressure and reported mortgage rates at 6.3% versus a 6.0% earlier-2026 average, suggesting cost of capital is a headwind for some buyers and should be factored into deal pacing and pricing strategy.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

Baltimore, MD 21224 Real Estate Market Report

ZIP Code: 21224
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Baltimore, MD are 6.3% compared to the 6.0% average observed earlier in 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. median sold price: $382,450 is the most reliable indicator of recent market value in ZIP 21224; with asking prices showing a notable spread above transactions (median listing price: $549,900), sellers may need to align expectations to convert listings into closed sales.

2. median days on market: 333 signals materially slower sales velocity versus typical seasonal norms and, combined with observed price softening, suggests increasing buyer time to evaluate offers, which may create opportunities for negotiated concessions or contingent terms.

3. price year-over-year trend: down and market temperature: neutral together indicate a market that is cooling from prior strength while remaining relatively balanced; sellers should expect more conditional offers and buyers may see modest leverage — exercise pricing discipline when listing or underwriting acquisitions.

4. median price per square foot: 286 alongside median market rent: 1,650 and a rent year-over-year trend: down point to softer near-term rental demand and stable price-per-foot benchmarks; investors should prioritize localized comparables and underwriting sensitivity to vacancy and rent pressure, especially given interest rate pressure: moderate (current 30-year fixed at 6.3% vs 6.0% earlier in 2026).

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Notable Properties

The following 7 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.