HUD Homes Articles | Those who guessed that August prices in the Baltimore metro area would drop below two-year-ago levels were more or less on the mark: The average price last month was $317,500, down 1.7 percent from a year ago and 1.8 percent from two years ago. The median price last month was $275,000 — exactly the same as two years ago.
That’s according to housing numbers out today from Metropolitan Regional Information Systems.
Sales fell 29 percent from a year ago. It’s the first time since August 2007 that the year-over-year drop wasn’t at least 30 percent, so you might count that as a smidge of change.
Average prices rose about 3 percent in Baltimore from a year ago but sales there dropped a larger-than-average 35 percent. In case you’re wondering: The 430 homes that changed hands last month is about a third of the sales the city had in August 2005, at the height of the boom.
The drop isn’t quite as steep in the ‘burbs, though it’s still a sizable decline. Baltimore County, for instance, saw half as many sales last month as it did three years earlier.
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