| 2008 | 2007 | % Change | |
|---|---|---|---|
| Total Sold Dollar Volume: | $ 6,351,372 | $ 6,751,845 | - 5.93 % |
| Average Sold Price: | $ 264,641 | $ 337,592 | - 21.61 % |
| Median Sold Price: | $ 244,950 | $ 306,000 | - 19.95 % |
| Total Units Sold: | 24 | 20 | 20.00 % |
| Average Days on Market: | 127 | 58 | 118.97 % |
| Average List Price for Solds: | $ 305,857 | $ 357,055 | - 14.34 % |
| Avg Sale Price as a percentage of Avg List Price: |
86.52 % | 94.55 % |
The chart above displays the home sales in Laurel Md zip code 20707. The numbers compare December 2008 with December 2007. As you can see, the housing correction is in full force in Prince Georges County Laurel Maryland. Both the average sold price and the median sold price dropped about 20% each from last December.
A significant number is the increase in homes sold this past December as compared to December 2007. December 2008 sold four more homes than the previous year, an increase of 20%. This is a reversal of a trend that has been consistent for the past couple years.
This could be a sign that the market is nearing the bottom.
For more information on the Maryland housing market, visit Maryland real estate.
