What home sellers wanted, and what they got
A few numbers that caught my interest when I took another look at the April home sale statistics from Metropolitan Regional Information Systems, which tracks the Baltimore metro area:
--Average sellers got close to 92 percent of their asking price, up from 89 percent a year earlier. The increase is partly because sale prices rose slightly, and partly because sellers this year asked for a bit less.
--The dollar difference between what sellers asked for on average and what they got? $25,000.
--The average asking price vs. sales price varied a lot across the region. Baltimore City had the lowest percentage (average sellers got 88 percent of their asking price in April) and Howard County had the highest (94 percent), closely followed by Carroll (93 percent).
--The average home in the metro area that sold in April was on the market for two weeks less than the average home selling in April 2009. But it still worked out to more than three-and-a-half months waiting for a buyer.
--A third of homes that sold went in 30 days or less.
--Another third of homes were on the market more than 120 days before selling.
Any stats out there catch your eye?
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Comments
"Average sellers got close to 92 percent of their asking price, up from 89 percent a year earlier."
You need to insert the word "last" between "their" and "asking". As your recent post points out, many sellers in this area have had to lower their asking prices--often by large amounts--to attract offers.
Posted by: John | May 18, 2010 9:43 AM
Looks like these sellers are screwed now that mortgage applications are at a 13 YEAR LOW. That's right. Mortgage applications are now at the same levels as 1997 since the tax credit expired. So much for a housing recovery. Who would have guessed that people would stop buying once the tax subsidies ended?
Posted by: "Nutty Bar" | May 19, 2010 1:15 PM