Q: What sort of homes sold here last month?
A: Less expensive ones.
Sales of homes priced below $250,000 increased by 9 percent last month vs. a year earlier in the Baltimore metro area, according to my analysis of Metropolitan Regional Information Systems data. Homes sales in the $250,000 to $499,000 range fell by 9 percent, while the $500,000-plus sales dropped 19 percent.
A lot more homeowners are trying to tap into that sweeter spot of the market: The number of properties listed for under $250,000 rose nearly 20 percent from a year earlier. Listings in the pricier categories dropped.
But there's still less competition for sellers in that lowest range, relatively speaking. Nine homeowners were trying to sell a home priced under $250,000 for every one that sold last month, vs. 10 in the middle price range and 20 in the high range.