| 2008 | 2007 | % Change | |
|---|---|---|---|
| Total Sold Dollar Volume: | $ 9,973,800 | $ 9,117,041 | 9.40 % |
| Average Sold Price: | $ 269,562 | $ 325,609 | - 17.21 % |
| Median Sold Price: | $ 250,000 | $ 306,500 | - 18.43 % |
| Total Units Sold: | 37 | 28 | 32.14 % |
| Average Days on Market: | 132 | 88 | 50.00 % |
| Average List Price for Solds: | $ 296,397 | $ 339,786 | - 12.77 % |
| Avg Sale Price as a percentage of Avg List Price: |
90.95 % | 95.83 % |
The above statistics are a comparison of sales in Laurel real estate from last September and this September in zip code 20707. As you can see, the average sold price from last year to this year has dropped over $56,000, just over 17%. The median price of homes from last year to this year has dropped just over $56,000 as well. Those trends reflect pretty much what is happening in most of Maryland real estate.
However, one very important detail needs to be mentioned. The number of homes sold this September was 37. That is an increase over the 28 homes sold last September. This increase in homes sold could be the first signs of the market “bottoming out”. We just need to keep an eye on this trend and see if it continues.
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