Home Value Decline Slowing in Broadneck
Broadneck home values dipped just 3.7 percent on average.
Among nearly 60,000 residential properties reassessed this year between Broadneck, Severna Park and other areas, values dipped ionly single-digit numbers, which Realtor members say is a sign of progress.
The Baltimore Sun reports that home values in Maryland have been slowly recovering from recession level declines, when values were reassessed at double-digit numbers. But this year, the average home value was down just 7 percent.
Among properties surveyed in Broadneck and other regional areas, homes lost just 3.7 percent since the last assessment, with most single-family homes seeing an average decline of 1.5 percent, according to Joseph Glorioso, the county's assessments supervisor. Larger homes saw larger drops in value, however.
To read the full story, visit The Baltimore Sun.