Baltimore Metro #4 overpriced area

In a recent Forbes article, Baltimore metro area was ranked as the fourth most overpriced area in the United States. Francesca Levy of Forbes wrote a piece titled “Where U.S. homes are most overpriced.”

According to the December 3rd, 2009 Forbes article, the top ten overpriced metro areas in the U.S. are:

1. Orlando-Kissimmee, Florida
2. Miami-Fort Lauderdale-Pompano Beach, Florida
3. Jacksonville, Florida
4. Baltimore-Towson, Maryland
5. Chicago-Naperville-Joliet, Illinois-Indiana-Wisconsin
6. San Antonio, Texas
7. Denver-Aurora, Colorado (tied)
7. Tampa-St. Petersburg and Clearwater, Florida (tied)
9. Indianapolis-Carmel, Indiana
10. Austin-Round Rock, Texas (tied)
10. Nashville-Davidson-Murfreesboro-Franklin, Tennessee (tied)

To read the original Forbes article and view the full list of the 40 most overpriced metro areas in the U.S. go here Forbes.com.

The table in the article goes on to rank the Baltimore metro area:

ninth (9th) when looking at Properties with Price Reductions
eight (8th) when considering List Price versus Absorbed Price
tenth (10th) in Days On Market
twenty-first (21st) on the Five Year Price Forecast

Basically, this determined that homes, here in Baltimore, were on the market longer and sold for less than the original list price. I am uncertain if that should or would be an accurate measure of how to be ranked. It is, however, certainly interesting information and could help explain quite a bit about our current market.

No Comments

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a comment