| 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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