County Home Sales, Condo Prices Drop In July

August 25, 1991

County home sales and the average sale price of condominiums droppedin July, as compared with July 1990, the county Association of Realtors reported.

Sales of condominiums suffered most, declining from 56 units sold in July 1990 to 32 units last month, a 42 percent slide. Year-to-date sales were down 25 percent.

Sales prices for those units dropped from an average of $89,248 in July 1990 to $88,787 last month. Condo prices since January also averaged lower, at $91,244, compared with a $92,074 average from January to July 1990.

Single-family home sales dropped only 2 percent, from 261 in July 1990 to 255 last month.

January-to-July sales weredown 12 percent, the board reported.

Fifty-seven percent of July homebuyers opted for conventional financing at an average interest rate of 8.83 percent.

The board's information was collected from theCentral Maryland Multiple Listing Service and may not represent all sales in Howard County.

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