Here are the most recent statistics in Laurel real estate:
| 2008 | 2007 | % Change | |
|---|---|---|---|
| Total Sold Dollar Volume: | $ 7,582,723 | $ 8,915,400 | - 14.95 % |
| Average Sold Price: | $ 303,309 | $ 342,900 | - 11.55 % |
| Median Sold Price: | $ 262,000 | $ 328,450 | - 20.23 % |
| Total Units Sold: | 25 | 26 | - 3.85 % |
| Average Days on Market: | 162 | 61 | 165.57 % |
| Average List Price for Solds: | $ 334,123 | $ 355,977 | - 6.14 % |
| Avg Sale Price as a percentage of Avg List Price: |
90.78 % | 96.33 % |
The above numbers are for specifically zip code 20707. The most shocking item to me is Average Days On Market more than doubling from 61 days to 162 days. The next significant item is the drop of the Median Sold Price from $328,450 down to $262,000. That is about a 20 percent drop. This number may be skewed by foreclosures. However, it is a great to buy a home in Laurel Md. There are some incredible deals out there for buyers. I don’t know what the Fed will do with interest rates and first time home buyer programs, but it would be smart to buy now.
