April 2025 Catonsville Real Estate Insights

Catonsville Real Estate Market Bucks National Trends

In the Wall Street Journal this past weekend, there was an article titled, "The Spring Home Sales Season is Shaping Up to Be a Dud." If you only read that article and weren't subscribed to The Catonsville Report, you may have no idea how different the market dynamics can be in our small town. It's funny, because almost all the cited statistics are the opposite of what's happening in Catonsville.

The article is filled with words like, disappointment, tepid demand, anemic, deterioration, cooling buyer demand, and crushing hopes. But those are not the feelings in Catonsville! Let's compare:

WSJ Article
- spring housing season is a disappointment
- inventory is rising
- buyers are hesitant
- there is an excess of new construction homes

Catonsville Market
- spring is cruising along similar to previous years
- inventory is flat; we could always use more houses
- when great properties are listed, buyers move fast
- very few new construction homes available

Mortgage Rates Up Slightly in April

April was another insignificant month for mortgage rates. There were small ups and downs, but not enough to change consumer behavior. The interest rate for a 30-year fixed loan started the month down slightly from March. Rising in the third week of April to 6.83%, rates have fallen over the past few days. Currently at 6.76%, rates remain higher than last month with no signs of relief.

When rates don’t fluctuate, buyers feel more secure making long-term financial commitments. This can lead to steady buyer demand, especially among those who were waiting for volatility to calm down.

Catonsville Housing Inventory

In March, the supply of housing inventory in Catonsville was 0.88, meaning less than one month's worth of houses were available to buy. April showed an increase to 0.96, which is more than double the number of houses in March 2024, but still less than one month's supply. Lack of inventory continues to choke the Catonsville real estate market, creating competition among buyers.

Days on Market Still Under One Week

Remaining unchanged from March, the median days on market for sold listings in Catonsville is 6 days. You really don't have any time to waste if you're trying to buy a house in Catonsville. Many listings go live on Fridays and are under contract by Monday. Unless you're making a cash offer or you're already pre-approved for a mortgage, it's going to be difficult to write a winning offer.

Most Catonsville Houses Sell Above Asking Price

Catonsville is not seeing the reduction in home sales that many other communities are experiencing. In fact, most homes still sell above the asking price. At 101.61%, for April, that's only slightly better than March at 101.42%. I will be surprised if we hit last year's peak in May of 106%.

Median Sold Price Unchanged

The chart of home prices over time still shows an upward trend, but the median sold price for April remained unchanged from March at $400,000. I expect to see this number rise for May and June, typically the most active months for real estate in Catonsville.

Number of Listings and Sales Stays Flat

Comparing April 2025 sales numbers to the previous year doesn't really tell us much.

• There were 44 closed sales this year compared to 43 last April

• New pending listings are down a bit from 51 to 48

• New listings were up to 48 last month compared to 40 a year ago

Conclusion

There were no surprises last month. Catonsville's real estate trends of low inventory, high demand, and steadily rising prices show no signs of wavering. If you're a buyer, only the strongest offers have a chance. If your'e selling, setting the right price is the difference between a quick sale and a painful slog.

If you're considering buying or selling a house in Catonsville, please reach out. We are here to help.