baltimoresun.com

« March home sales in the Baltimore metro area | Main | Q&A: Tim Higgins, home loan consultant »

April 12, 2009

The market for new condos in the Baltimore area

Asking prices for new condos in the Baltimore metro area were down 10 percent in the first three months of the year vs. the same period a year earlier, according to real estate information provider Delta Associates. The company's new report on the new-condo market says asking prices dropped most in Baltimore's northern suburbs (more than 16 percent) and least in the city (4.8 percent).

Some of the more eye-popping factoids:

--At the pace things are moving right now, the northern suburbs have enough new condos for sale to last buyers through 2022, according to Delta.

--In Baltimore City, contract cancellations in the first three months of the year outnumbered sales. (The same thing happened in Washington's Fairfax/Falls Church area.)

Delta addresses these supply vs. demand issues in the report:

The inventory of condos in the Baltimore metro area is still too high compared to sales velocity, and as a result, more projects have been removed from the pipeline, and this trend will likely continue over the period ahead.
Posted by Jamie Smith Hopkins at 1:09 PM | | Comments (1)
Categories: Housing stats, New developments
        

Comments

How is the market looking for existing condos? I'm especially interested in Rockland Run, I know they got some really bad press a while back.

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