In comparing the last half of this year with the last half of last year in West Laurel, we have some interesting findings. Home prices decreased from just about $412,000 down to $385,000. That is an 18.5% drop in property prices.
Bank foreclosures and short sales are affecting property values in West Laurel Maryland. It use to be that distress sales were the exception and not used for comparables. However, now distress sales are much more prominent. Foreclosures and short sales in West Laurel are now used as comparables for home sales.