A year after the protests and riots following the death of Freddie Gray, Baltimore’s real estate prices have over taken pre-unrest levels, reports Realtor.com.
In April 2015, the median cost of a city residence was $102,750. A year later, the median cost was $135,000. Not only that, but more homes were sold in the city in the 12 months since the unrest than in the 12 months before.
Alan Ingraham, CEO of the Greater Baltimore Board of Realtors, told Realtor.com that the deep-seated problems exposed by the unrest attracted investment in Baltimore that benefited the real estate market.
“It ends up having a better resolution than we ever could have hoped for,” Ingraham told Realtor.com. “After the unrest, nobody could avoid recognizing that there are widespread problems, like unemployment, poverty, and racial disparities that affect inner-city neighborhoods.”
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