baltimoresun.com

« Housing and the government | Main | Are we there yet? »

May 9, 2008

April home sales

To the disappointment of all hoping for signs of a turnaround, April continued the trend of big sales declines in the Baltimore metro area. The number of homes sold last month was down 31 percent from a year earlier. Average prices were essentially flat. (The median price -- the point at which half the homes are less expensive and half more expensive -- fell 4.7 percent.)

Click HERE to see the data, released today by Metropolitan Regional Information Systems.

The sales drop ranged from 27 percent in Baltimore County to 42 percent in Carroll, which has really been taking a pummeling. Prices fell the most in Carroll, down 7.6 percent on average. Every other jurisdiction in the area saw tiny-to-modest price drops except Baltimore, where average prices rose 3.7 percent. (But the city's median price fell, which just goes to show that it depends on what you're measuring.)

The number of unsold homes is again on the rise. That's probably to be expected, because a number of agents mentioned in the winter months that they had clients planning to put their properties on the market in the spring.

Thoughts about the market? As always, chime in. 

Posted by Jamie Smith Hopkins at 9:16 PM | | Comments (1)
        

Comments

I was hoping for something different. At least the zip codes in the city that pay a bulk of the taxes are looking a little healthier.

I still think the absolute bottom in the City is behind us. Maybe May/June numbers will look different once the settlements from March and April happen. Right now we are still looking at Winter data, which was horrible.

FYI: Interest rates dropped again. According to Bloomberg this morning, bond rates are setting up for another all time low in mortgage rates shortly.

Post a comment

All comments must be approved by the blog author. Name-calling aimed at other commenters is not welcome here. Please do not resubmit comments if they do not immediately appear. You are not required to use your full name when posting, but you should use a real e-mail address. Comments may be republished in print, but we will not publish your e-mail address. Our full Terms of Service are available here.

Verification (needed to reduce spam):

About Jamie Smith Hopkins
Jamie Smith Hopkins, a Baltimore Sun reporter since 1999, writes about the regional economy. Her reporting on the housing market has won national and local awards. Hopkins is a Columbia native and has lived in Maryland all her life, save for 10 months spent covering schools in Ames, Iowa.
She trained to become a wonk by spending large chunks of time as a geek and an insufferable know-it-all.
Baltimore Sun articles by Jamie
-- ADVERTISEMENT --

Most Recent Comments
Baltimore Sun coverage
Baltimore Sun Real Estate section
Archive: Dream Home
Dream Home takes readers into the houses of area residents who have found their ideal home.
Sign up for FREE business alerts
Get free Sun alerts sent to your mobile phone.*
Get free Baltimore Sun mobile alerts
Sign up for Business text alerts

Returning user? Update preferences.
Sign up for more Sun text alerts
*Standard message and data rates apply. Click here for Frequently Asked Questions.
  • Sign up for the At Home newsletter
The home and garden newsletter includes design tips and trends, gardening coverage, ideas for DIY projects and more.
See a sample | Sign up

Charm City Current
Categories
Stay connected