White Marsh growth gaining on Owings Mills
White Marsh is catching up with Owings Mills as the hub of new housing construction in Baltimore County, according to real estate consultants Lipman Frizzell & Mitchell.
After peaking at a 34.8 percent market share in 1994, the Owings Mills growth area's production of new housing represents 26.6 percent of residential building permits in the county.
White Marsh housing production, which made up an average of 11.7 percent of the Baltimore County market over the past five years, shot up over the first five months of 1995.
Residential permits in the area increased more than 50 percent compared to a 24 percent decrease in the county as a whole.
Consequently, White Marsh's market share increased from 8.9 percent in 1994 to 18.2 percent for the first five months of 1995. Much of this increase can be attributed to condominium construction.
Combined, the two growth areas represent more than 40 percent of the county's housing construction in the last five years, and more than 16 percent of its nonresidential construction, according to the report, co-authored by M. Ronald Lipman, a principal in the firm, and C. Lisa Spivey, a market
Construction contracts rise 23% in Maryland
August contracts for future construction in Maryland were up 23 percent over August 1994, but most of the increase was for nonresidential building, which was up 63 percent. Residential construction contracts were down 7 percent.
For the year, total construction in the state is down 6 percent, but residential is up 3 percent through the end of August.
The statistics are compiled by the F. W. Dodge division of DRI