March sales rise for new homes, 14.6% over 1997

Real Estate Watch

May 17, 1998

New-home sales in the Baltimore-metropolitan region continued their upward swing in March with a 14.6 percent increase over the same time last year.

However, Meyers Housing Data Reports, a Washington firm that tracks new-home sales, reported that March sales dipped 7 percent compared to February, with 1,042 units sold vs. 1,121.

The strength of the 1998 new-home market remained evident as single-family home sales climbed 10.3 percent more than in March 1997. Harford and Howard counties led the way with increases of 40 percent and 39 percent, respectively.

Buyers in the region also showed an interest in townhouses as sales shot up 28 percent over the same time last year. The largest gains came in Anne Arundel County, which had 172 sales vs. 104 in March 1997, a 65 percent gain. Townhouse sales were also strong in Howard with an increase of 38 percent and Baltimore County with an increase of 13 percent.

The condominium market had the only downturn in sales with 8 percent less than in March 1997.

Pub Date: 5/17/98

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