Roundup: Tough Month For Housing Market, Candlelight Vigil, And More
OWINGS MILLS - It's time to catch up on some stories from around Owings Mills/Reisterstown this Wednesday. We have four stories for you today. Let's get more informed faster.
Baltimore County Housing Market Stumbles In October
According to a Maryland Realtors housing statistics report, October was a tough month for homeowners and those home shopping in Baltimore County.
Statewide, October home sales dropped 36.5% compared to the previous year and 18.9% compared to September 2022. 5,745 units were sold in October 2022 versus 9,044 in October 2021.
Baltimore county specifically saw a 33.4% decrease in home sales compared to October 2021. Prices also rose, with the average sale price of a home in Baltimore County increasing by 10.1%.
Against this dynamic of fewer sales and higher prices were rising interest rates, as the 30-year fixed mortgage rate peaked at 7.08% and continued limited Inventory. Active statewide Inventory fell 17.4% to 10,349, and new listings fell 27.2% to 7,242.
It's not all doom and gloom. National Association of Realtors Chief Economist Dr. Lawrence Yun says that tight Inventory, inflation, and elevated interest rates would help to keep prices stable heading into 2023.
"The gap between the 30-year fixed mortgage rate and the government borrowing rate is much higher today than it has been historically," Yun said. "If we didn't have this large gap, mortgage rates wouldn't be 7%, they would be 5.8%. If inflation eases, we'd see less anxiety within the financial markets and lower interest rates, which would allow owners to refinance."
Strategic Factory Named To Baltimore Business Journal's 50 Fastest-Growing Private Companies.
The Baltimore Business Journal has released its ranking of the 50 fastest-growing private companies in the Baltimore region. Owings Mills company, Strategic Factory, came on at number 32.
The BBJ calculates the "Fast 50" each year by measuring the annual average growth rate of participating companies over a two-year period. The news outlet announced its 2022 list at an awards celebration at the Marriott Owings Mills Metro Centre in Owings Mills on Tuesday, November 1.
Keith Miller, President & CEO of Strategic Factory, says it is an honor to be included on such an exclusive list.
"We're proud to be recognized by the Baltimore Business Journal as one of the fastest-growing companies in the region over the past couple of years," Miller said. "I want to thank the incredible team at Strategic Factory, our amazing customers, and our supportive vendors. Without them, this honor wouldn't be possible."
Strategic Factory started in 1999 when Miller purchased an 800-square-foot, two-person, quick-print franchise in Pikesville, Maryland. Ambition and determination led to the building of a sprawling, 40,000-square-foot production facility in Owings Mills, MD.
According to their website, "Innovation and perseverance have made Strategic Factory into a preeminent single-point provider, continuing to expand services and product offerings while growing to more than 130 employees."
"To come together and celebrate in person with other companies on the Fast 50 list made for a very special evening," Miller said. "I look forward to seeing the continued growth of the Baltimore region for many years to come."
Owings Mills Community Holds Candlelight Vigil For Laundromat Stabbing Victim
On Sunday, the Owings Mills community gathered in memory of 39-year-old laundromat volunteer Jerry Lewis. Lewis was killed in a horrific stabbing at the 24-Hour Coin Laundromat in Owings Mills.
According to witnesses, Lewis died as he lived, being a helpful and caring community member. He was helping a female customer when a man approached the woman and began harassing her.
Witnesses say the laundromat volunteer jumped to her defense and told the man to get away, but moments later, the man returned with two knives and stabbed Lewis to death.
WMAR spoke to attendees of the vigil, who described Lewis as a gentle giant who always lent a helping hand.
"Jerry was a great guy. We will all miss him. I know he's in a better place," said Edward Washington.
23-Year-Old Shot On Reisterstown Road
According to police, A 23-year-old man walked into a hospital late Tuesday night suffering from a gunshot wound. Police responded to the hospital around 11:00 p.m.
Police say an unidentified suspect shot the victim on the 6200 block of Reisterstown Road in the Reisterstown Station neighborhood.
Police say the gunshot wound was non-life threatening.
Anyone with information about this shooting is asked to call 410-396-2466 or Metro Crime Stoppers at 1-866-7Lockup.