The October numbers are out and they look good!  Anne Arundel, Baltimore City, Carroll, Howard, and Montgomery County's sales prices from October 2007 are higher then that of last year.  Only Baltimore and Frederick County's numbers are down. 

The most surprising number I found was the activity from September to October of this year.  There are more homes being purchased in every county!  The number of homes under contract is up across the board!

Anne Arundel County:  October 2007 VS October 2006
Sales prices rose from a year ago by 0.49% from an average of $417,301 to $419,355.  Sellers are being negotiated 7.66% off of their original list price versus 7.35% one year ago and homes are staying on the market longer.  In 2006 the average home was on the market for 81 days.  In October of 2007 the average home is on the market for 123 days.  927 new listings came to the market and 451 where put under contract.  These numbers show there is a large supply of homes on the market and it is getting bigger every month.

Baltimore County:  October 2007 VS October 2006
Sales prices fell from a year ago by –3.64% from an average of $306,822 to $295,652.  Sellers are being negotiated 6.81% off of their original list price versus 5.58% one year ago and homes are staying on the market longer.  In 2006 the average home was on the market for 61 days.  In October of 2007 the average home is on the market for 89 days.  1243 new listings came to the market and 630 where put under contract.  These numbers show there is a large supply of homes on the market and it is getting bigger every month.

Baltimore City:  October 2007 VS October 2006
Sales prices rose from a year ago by 9.52% from an average of $172,418 to $188,830.  Sellers are being negotiated 7.61% off of their original list price versus 5.87% one year ago and homes are staying on the market longer.  In 2006 the average home was on the market for 69 days.  In October of 2007 the average home is on the market for 94 days.  1569 new listings came to the market and 614 where put under contract.  These numbers show there is a large supply of homes on the market and it is getting bigger every month.

Carroll County:  October 2007 VS October 2006
Sales prices rose from a year ago by 1.98% from an average of $352,995 to $359,979.  Sellers are being negotiated 6.85% off of their original list price versus 5.32% one year ago and homes are staying on the market longer.  In 2006 the average home was on the market for 72 days.  In October of 2007 the average home is on the market for 128 days.  241 new listings came to the market and 128 where put under contract.  These numbers show there is a large supply of homes on the market and it is getting bigger every month.

Frederick County:  October 2007 VS October 2006
Sales prices fell from a year ago by –9.19% from an average of $362,097 to $328,826.  Sellers are being negotiated 8.87% off of their original list price versus 4.82% one year ago and homes are staying on the market longer.  In 2006 the average home was on the market for 95 days.  In October of 2007 the average home is on the market for 133 days.  482 new listings came to the market and 199 where put under contract.  These numbers show there is a large supply of homes on the market and it is getting bigger every month.

Howard County:  October 2007 VS October 2006
Sales prices rose from a year ago by 10.08% from an average of $416,736 to $458,725.  Sellers are being negotiated 6.32% off of their original list price versus 5.18% one year ago and homes are staying on the market longer.  In 2006 the average home was on the market for 69 days.  In October of 2007 the average home is on the market for 103 days.  507 new listings came to the market and 237 where put under contract.  These numbers show there is a large supply of homes on the market and it is getting bigger every month.

Montgomery County:  October 2007 VS October 2006
Sales prices rose from a year ago by 2.11% from an average of $510,758 to $521,555.  Sellers are being negotiated 7.64% off of their original list price versus 4.8% one year ago and homes are staying on the market longer.  In 2006 the average home was on the market for 74 days.  In October of 2007 the average home is on the market for 94 days.  1710 new listings came to the market and 766 where put under contract.  These numbers show there is a large supply of homes on the market and it is getting bigger every month.

If you would like a more detailed valuation of your home, contact us today.