baltimoresun.com

« Q&A: Would-be landlords | Main | What do homebuyers, sellers and agents want? »

May 26, 2009

A useful way to look at home sales

Average and median home sale prices are all well and good, but what the typical homeowner really wants to know is, "Could I sell for more than I bought?" Neither the average nor the median price will necessarily answer that.

Analyze same-home sales, on the other hand, and you're getting somewhere.

That's just what The Washington Post has done for D.C.-area jurisdictions, including two that the Baltimore area claims, Anne Arundel and Howard counties. The newspaper found that only 38 percent of home sellers who bought in 2000 or later made a profit in the first three months of this year, vs. almost everyone who sold in 2005.

You can see the graphic here and the story here.

It's not a simple matter to compare same-home sales over an entire metro area, but you can do it with data culled from jurisdictions. Analyzing this for the Baltimore area has been on my to-do list for a while, but a couple of things interceded. The financial meltdown, first of all. Then a baby. (Not that I'm complaining about the baby. She's wonderful.) I'm hoping to make some progress on this to-do item once I'm back at work.

You can help me out: If you've sold a home this year, let me know how it compared with the price you bought it for.

Posted by Jamie Smith Hopkins at 1:50 PM | | Comments (1)
Categories: Housing stats
        

Comments

Bought in 2004 for 160 sold for 220 last month - did some upgrades over the years but I've done about 15K in upgrades. Foreclosure and short sales are what is driving down the median home price

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