As you know, Laurel real estate is located in four different zip codes.  Today, I want to talk about Laurel MD zip code 20708.

A couple of post ago, I discussed the Sales price as a percentage of List price ratio in zip code 20707.  Briefly, this number reflects the difference between the price the home was listed at and what it actually sold for.  For example, a home is listed at $100K, but sells for $80K.  Since the home sold for 80% of list price the Sales price to list price ratio is 80%.

In Laurel MD zip code 20708 the Sales price to list price ratio is just over 90%. So if you have a home listed at $250K, it would on average, sell for about $225K.  This number is almost the same as last Octobers 91%. The number is also higher than Laurel MD zip code 20707 by 3%.

One reason for this October’s numbers being close to last October’s numbers, is that sellers are pricing their homes closer to what the market says they are worth.  Home prices this October are down about 22% from last October.

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