With the start of National Homeownership Month, MRIS is featuring a few starter home options for new homebuyers in the MRIS footprint.
According to RealEstate Business Intelligence’s recent housing update, inventory is rising in our region, but the market remains tight.
In the DC Metro area, condos and townhomes – housing types typically associated with starter homes – saw an increase from last year in median sales price. The median sales price of condos increased 5.1 percent to $310,000 and the median sales price of townhomes rose 5.0 percent to $420,000 from last year.
For those looking in the Baltimore Metro, contracts decreased overall but townhomes continue to be a popular housing type with new contracts rising 3.1 percent in May compared to last year.
In today’s tight market starter homes can be harder to find, but these options are all under $400,000 in the DC Metro and under $300,000 in the Baltimore Metro and include condos to single family homes.
Check out this slideshow of 20 DC/Baltimore Metro starter homes.
Click the images above to learn more about these homes!