Home Sales Triple in Laurel, Maryland 20707

2009 2008 % Change
Total Sold Dollar Volume: $ 6,813,045 $ 2,622,250 159.82 %
Average Sold Price: $ 252,335 $ 291,361 – 13.39 %
Median Sold Price: $ 240,000 $ 300,000 – 20.00 %
Total Units Sold: 27 9 200.00 %
Average Days on Market: 167 116 43.97 %
Average List Price for Solds: $ 291,873 $ 314,300 – 7.14 %
Avg Sale Price as a
percentage of Avg List Price:
86.45 % 92.70 %

Home sales in Laurel, Maryland 20707 this past March were three times as much as March of 2008!  Can you believe it?  As you can see from the above chart, March of 2009 27 homes sold in Laurel 20707 as compared to 9 homes sold in March of 2008.

Probably the biggest contributing factor is the price point of homes.  The average sold price and medium sold price were about $250K or below.  I believe that $250K is the magic number at which most first time home buyers can buy a home.  It looks like my theory was correct.

Lets see if this holds up.

 

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