The price ranges with rising home sales (surprise!)
Q: Did any price ranges see home-sale gains in September, despite the overall drop?
A: Why, yes. So glad you asked.
You probably won't be shocked to hear that sales in the under-$100,000 category increased, compared with a year ago, since that's the most affordable to buyers and is also the niche most attractive to investors. But guess what also rose? Sales of $1-million-plus homes.
I analyzed sales data from Metropolitan Regional Information Systems for Baltimore and the surrounding suburbs, and here's what the stats showed:
Sales of homes priced under $100,000 rose 30 percent, from 208 a year ago to 270 in September.
Also up: homes priced in the $500,000s. Sales in that price range rose 31 percent, to 101 homes.
Sales of homes in the $800,000s remained steady at a grand total of 11. Every other category dropped. (This is according to MRIS's dataset of all sales, which varies a bit from its online report because it's culled at a different time.)
The $200,000s was the most popular price range in September, same as a year earlier. But the buying pool there really shrunk. People picked up 475 homes in that category, compared with 700 a year ago -- a 32 percent drop.