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December 30, 2008
Laurel real estate is spread across four different counties. Two zip codes are located in Prince Georges county. In addition Laurel MD has one zip code in Howard county and one in Ann Arundel county. Each of these parts of Laurel have their own absortion rates. An absorption rate is the percentage of homes that sell within the first thirty days they are on the market. Any absorption rate below 23% is considered a buyer’s market.
Zip codes 20707 and 20708 are located in Prince Georges county Laurel MD. The absortion rate for zip code 20707 is at 14%. The absorption rate for zip code 20708 is at 24%. Both these rates are higer than the rate for all of Prince Georges county. Laurel is still a buyer’s market overall. The 24% absorption rate for 20708 actually puts it in a transition market. Transition meaning that it is between a buyer and a seller market.
Zip code 20723 is Howard county Laurel Md. Very commonly referred to as North Laurel. The absortion rate for 20723 is 13%. This rate indicates Howard county Laurel Md is still very much a buyer’s market.
And last is zip code 20724 in Ann Arundel county Maryland. This area has the Maryland city and Russett neighborhoods. The absorption rate for 20724 is at 21%. Still a buyer’s market, but some movement towards the transition market.
For more information about Maryland real estate, visit Maryland homes.
December 29, 2008
Laurel real estate is located in four different counties. The four counties are Montgomery, Howard, Prince Georges and Ann Arundel counties. Each of these counties have their own absorption rate. If you remember, an absortion rate describes what percentage of homes in a given market sell within thirty days. Any aborption rate below 23 percent indicates a buyer’s market. The lower the percentage, the stronger the buyer market.
In Montgomery county the absortion rate is 19 percent. In Prince Georges county the absortion rate is 13 percent. Howard county has an absortion rate of 12 percent, followed by Ann Arundel county at 10 percent.
All four counties are solid buyer markets, with Ann Arundel being the strongest buyer’s market with an absortion rate of ten percent.
For more information about home sales in Maryland counties, visit Maryland real estate.
December 28, 2008
Just wanted to give you some quick stats concerning West Laurel MD subdivision.
In comparing the last half of this year with the last half of last year in West Laurel, we have some interesting findings. Home prices decreased from just about $412,000 down to $385,000. That is an 18.5% drop in property prices.
Bank foreclosures and short sales are affecting property values in West Laurel Maryland. It use to be that distress sales were the exception and not used for comparables. However, now distress sales are much more prominent. Foreclosures and short sales in West Laurel are now used as comparables for home sales.
For more information about Maryland real estate, visit Maryland home sales.
December 27, 2008
Thank goodness for me the parties in Laurel Maryland are over!
Lets see…..last Sunday there were two trays of delicious cookies brought to my Bible study group. Then on Christmas Eve there was brunch at my sister’s house, several visits to friends and finally another dinner with incredible sweets to finish off the eating on Christmas Eve. Following all that food was a service at our church where my daughter sang that ended around 1 a.m.
On Christmas day there was breakfast at my other daughter’s home at 8 a.m. Presents were opened at several locations mid-day. Then at three o’clock in the afternoon it was off to another dinner of great food and numerous sweet deserts.
Mercifully, the day ended at around 8 p.m. that night. I must be getting old. Christmas is such a grueling event. I need a vacation after it to re-group.
Now, I just have to work it out that I don’t have to stay-up late on New Years.
For more information on Maryland communities, visit Maryland real estate.
December 22, 2008
My church, First United Methodist on Main Street in Laurel MD, participates in Winterhaven. Winterhaven is an event put on by local churches in the area that provides a place to sleep for the homeless. The event occurs from December to the end of March. The idea is to make sure the homeless have a place to stay on the coldest nights of the year.
First United Methodist Church (FUMC) of Laurel MD has been participating in Winterhaven for over 15 years. For this past week, FUMC has hosted between 20 to 30 men a night. In a couple of months we will do the same thing for the homeless women of Laurel and surrounding areas.
For more information about Laurel Md, visit Maryland real estate.
December 20, 2008
| |
2008 |
2007 |
% Change |
| Total Sold Dollar Volume: |
$ 224,791,913 |
$ 304,344,372 |
- 26.14 % |
| Average Sold Price: |
$ 425,742 |
$ 518,474 |
- 17.89 % |
| Median Sold Price: |
$ 330,000 |
$ 410,000 |
- 19.51 % |
| Total Units Sold: |
528 |
587 |
- 10.05 % |
| Average Days on Market: |
106 |
99 |
7.07 % |
| Average List Price for Solds: |
$ 469,945 |
$ 560,974 |
- 16.23 % |
Avg Sale Price as a
percentage of Avg List Price: |
90.59 % |
92.42 % |
Above are the numbers comparing home sales in Montgomery County Maryland this November 2008 with last November 2007. The figures indicate that Montgomery County is still feeling the market correction. Average and median sold prices are down from last November. Quite a difference between the two, with Average Sold price at $425K and Median sold price at $330K. This difference may be an indicator that some real bargains exist in Montgomery County Maryland.
For more information on Maryland real estate, visit Maryland homes.
December 18, 2008
I remember when I was a young kid growing up in Rockville MD. We would drive around with my parents and looking a Christmas lights on homes. Just a string of lights on a tree or a gutter seemed so festive. On occassion we would drive by a home that had colored lights on both the gutters and some of the trees. That was exciting.
Well, Christmas decorations in Laurel MD have come a long way since I was a kid. I can not believe how many homes have incredible Christmas decorations on them. Some of these homes must have hired a professional decorater to do the outside lights of their homes.
Have you seen that great job on Bond Mill Rd just before 198? These people do an incredible job every year. Their yard is full of electric dears, trees, bushes and a tunnel leading to the front door. It is really a great site. Looks like a Winter Wonderland. Keep driving on Bond Mill Rd, there is still more to see all the way to Riding Stable.
Make sure you drive down Montgomery Street into Historic Laurel. The street is full of wonderful historic homes decorated beautifully. You know there is some competition on that street. And we all get to benefit from it.
The limits of my Blog prevent me from showing pictures, but pictures would not do these homes any justice.
For more information on how you can become a part of this great community, visit Maryland homes for sale.
December 17, 2008
| 2008 |
2007 |
% Change |
| Total Sold Dollar Volume: |
$ 88,206,720 |
$ 131,493,067 |
- 32.92 % |
| Average Sold Price: |
$ 264,885 |
$ 314,577 |
- 15.80 % |
| Median Sold Price: |
$ 246,500 |
$ 308,000 |
- 19.97 % |
| Total Units Sold: |
333 |
418 |
- 20.33 % |
| Average Days on Market: |
141 |
103 |
36.89 % |
| Average List Price for Solds: |
$ 307,127 |
$ 337,236 |
- 8.93 % |
Avg Sale Price as a
percentage of Avg List Price: |
86.25 % |
93.28 % |
The above numbers display a comparison of home sales in Prince Georges County Md between November 2008 and last November 2007. The bulk of Laurel real estate is in Prince Georges County.
Down, down, down, she goes. The numbers above continue to show the correction is in full force in Prince Georges County. Total volume down almost 33%. Average sold price down from about $315K to about $265K. Median sold price down from $308k to $247K. That is almost a 20% drop. Average days on market increased by just over a month.
This wont go on forever. It is a great time to buy a home.
For more information on Prince Georges County home sales, visit Maryland real estate
December 16, 2008
| 2008 |
2007 |
% Change |
| Total Sold Dollar Volume: |
$ 2,394,500 |
$ 3,012,500 |
- 20.51 % |
| Average Sold Price: |
$ 299,313 |
$ 376,563 |
- 20.51 % |
| Median Sold Price: |
$ 285,000 |
$ 399,500 |
- 28.66 % |
| Total Units Sold: |
8 |
8 |
0.00 % |
| Average Days on Market: |
153 |
64 |
139.06 % |
| Average List Price for Solds: |
$ 348,588 |
$ 397,656 |
- 12.34 % |
Avg Sale Price as a
percentage of Avg List Price: |
85.86 % |
94.70 % |
Above are the numbers comparing November 2008 and November 2007 in Laurel MD 20724. As you can see, the numbers continue to reflect the correction that most of Maryland real estate is experiencing. Total dollar volume, Average Sold Price and Average List Price are all down from last November. Median Sold Price is down an incredible 28%!
Despite the dramatic decrease in home values in Ann Arundel County Laurel MD, the number of sold homes remained flat at eight. Days On Market more than doubled from last November.
It is still a great time to buy in Laurel Md.
For more information on home sales in Laurel Md, visit Maryland real estate.
December 15, 2008
|
2008 |
2007 |
% Change |
| Total Sold Dollar Volume: |
$ 5,840,220 |
$ 2,944,580 |
98.34 % |
| Average Sold Price: |
$ 389,348 |
$ 327,176 |
19.00 % |
| Median Sold Price: |
$ 360,000 |
$ 299,000 |
20.40 % |
| Total Units Sold: |
15 |
9 |
66.67 % |
| Average Days on Market: |
105 |
94 |
11.70 % |
| Average List Price for Solds: |
$ 415,928 |
$ 340,722 |
22.07 % |
Avg Sale Price as a
percentage of Avg List Price: |
93.61 % |
96.02 % |
Those of us who own Laurel real estate are very excited about Laurel MD 20723. Look at the above comparison between November 2008 to November 2007 in zip code 20723. Total dollar volume doubled. Average sold price increased 19 percent and median sold price increased just over 20 percent in Laurel MD 20723. The average list price for solds jumped just over 22 percent.
The days on market increased from 94 days to 105. However, the number of homes sold this November 2008 as compared to November 2007 increased by six. Laurel Md 20723 shows a possible resurgence in the Laurel housing market.
For more information about Laurel Md real estate, visit Maryland homes for sale.
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Contact Us
Brien Berard
RE/MAX
13994 Baltimore Ave.
Laurel, MD 20707
Phone: (301) 604-0198
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