Best and worst places to be selling a home
Where's the easiest place in the Baltimore area to sell a home for the full asking price? Catonsville, by one measure.
Real estate brokerage ZipRealty, analyzing the "hottest" and "coldest" ZIP codes in metro areas it tracks, said the average sales price in in 21228 was 99.9 percent of the average listing price during the last three months of the year. That's a difference of $257.
On the other end of the spectrum is 21216 in West Baltimore, where sellers got 87 percent of what they'd asked for. With an average list price of about $103,000, that's a difference of more than $13,000.
Sales price vs. asking price isn't the only measure of a market's health. Sometimes it's just a yardstick of how realistic sellers are being about what buyers will pay. But it's certainly one way to get at the push-and-pull of supply compared with demand.
Here's ZipRealty's full hot-and-cold list:
HOT:
1. Catonsville, 21228. Average listing price: $282,701. Average selling price: $282,444. Sales price as a percentage of list price: 99.9 percent.
2. Laurel, 20723. Average listing price: $319,093. Average selling price: $315,355. Sales price as a percentage of list price: 98.8 percent.
3 (tie). Laurel, 20724. Average listing price: $274,333. Average selling price: $270,062. Sales price as a percentage of list price: 98.4 percent.
3 (tie). Abingdon, 21009. Average listing price: $241,064. Average selling price: $237,295. Sales price as a percentage of list price: 98.4 percent.
5. Nottingham, 21236. Average listing price: $241,716. Average selling price: $237,644. Sales price as a percentage of list price: 98.3 percent.
COLD:
1. Baltimore, 21216. Average listing price: $103,211. Average selling price: $89,783. Sales price as a percentage of list price: 87 percent.
2. Aberdeen, 21001. Average listing price: $253,409. Average selling price: $236,710. Sales price as a percentage of list price: 93.4 percent.
3. Baltimore, 21215. Average listing price: $93,048. Average selling price: $87,131. Sales price as a percentage of list price: 93.6 percent.
4. Baltimore, 21209. Average listing price: $291,610. Average selling price: $273,266. Sales price as a percentage of list price: 93.7 percent.







Comments
Well I live in 21209, so that sure makes me happy.
Posted by: Scott | January 26, 2010 9:46 AM
These stats do not take into the effect of releasing and relisting properties. That will cause your numbers to seem higher.
Posted by: John | January 26, 2010 10:53 AM
I would urge caution using something like this as statistics. Just as each market is local, each house is varied in its own way. Great houses, priced well in today's market are going to sell faster than a neighbor's house which may not be as updated or could be overpriced. Using a broad stroke to paint an entire zip code loses some of the nuances of sales statistics. It absolutely doesn't touch on zip codes that are in two different counties, let alone the diffrences between zip codes that straddle Baltimore City and Baltimore County. I think you really need to dig a little deeper before releasing such "statistics' as fact.
Posted by: Frank Locke | January 26, 2010 11:00 AM
John, good point -- that's another reason why asking price vs. selling price isn't the end-all and be-all on market health.
Frank, I'm not presenting these figures as the final word on the housing market -- take another look at the post, and you'll see several cautionary "this is just one statistic, and not necessarily the best one" notes. But list vs. sales isn't chopped liver, either. It's worth looking at.
Posted by: Jamie Smith Hopkins | January 26, 2010 11:07 AM
Bought a house in 21128 about 6 months ago - Glad I bought for much less then the listing price.
Posted by: JB | January 26, 2010 12:25 PM
JB, 21128 (Perry Hall) or 21228 (Catonsville)?
Posted by: Jamie Smith Hopkins | January 26, 2010 12:27 PM
oops is was Perry Hall
Posted by: JB | January 26, 2010 1:00 PM
Nope.I wasn't saying you were presenting these as facts. But, the Brokerage firm who released these "statistics" is setting up that impression. I think "hottest" and "coldest" zip code is certainly giving the wrong impression.
Posted by: Frank Locke | January 26, 2010 7:26 PM
Aberdeen Maryland Cold, what? Did someone tell the reporter that BRAC is coming and these people will be arriving this summer 2010. I will be selling my for 350k. It's a brand new home only 1.5 miles from the APG. The reporter needs to be objective in her reporting that the first rule in news.
Posted by: Anthony Seda | January 26, 2010 9:44 PM
Anthony, you don't have to refer to me in the third person. I'm right here. :-)
Also, I'm simply noting statistics released by a real estate brokerage -- you know, a company that works with buyers and sellers. No doubt ZipRealty's local agents are aware of BRAC, and I certainly am too, but that doesn't appear to have affected the sales price vs. listing price of Aberdeen homes in the last three months of 2009. And that's what this statistic is all about. It's not anyone's prediction of things to come.
Best of luck with that home sale.
Posted by: Jamie Smith Hopkins | January 26, 2010 10:28 PM
I think people need to realize that Jamie sometimes just posts interesting facts that you don't see in most places. People take everything she puts on here so literally like she is saying this fact or that fact is the end all be all. She always notes that this is just another way of looking at housing besides, housing sales price and sales numbers month over month. Thanks Jamie, this is an interesting statistic, but you probably need to NOTE IN BOLD LETTERS THAT THIS IS JUST AN INTERESTING FACT SO PEOPLE DON’T COMMENT ON HOW THIS STATISTIC IS INCORRECT.
Posted by: M | January 27, 2010 9:20 AM
WILL DO, M. THANK YOU.
:-)
Posted by: Jamie Smith Hopkins | January 27, 2010 9:38 AM
I'm surprised neither Columbia nor Elicott City are on the "hot" list. Or are they not part of the "Baltimore area" for the purpose of this post?
Posted by: Jelena | January 28, 2010 2:23 PM
Jelena, I believe that ZipRealty included the entire Baltimore metro area in its analysis. (Harford and Howard ZIPs are on the list, in any case.)
Columbia and Ellicott City ZIP codes are pretty big, with a fair amount of home-price variety, so it could be that the list-to-sale experience varies.
Posted by: Jamie Smith Hopkins | January 28, 2010 3:13 PM