Baltimore area new-home sales down 28.9%

Real Estate Watch

February 28, 1999

New-home sales in the Baltimore area fell 28.9 percent in December compared with November, spoiling an otherwise positive 1998, according to the Meyers Group, a Washington firm that tracks new residential construction.

Overall, 660 units were sold in December, compared with 928 in November. However, overall 1998 sales figures rose 16.9 percent, from 1997's 9,678 units to 11,314 units.

While sales figures for single-family homes were down 19.2 percent in December from November, Carroll County sales rose 3.7 percent. Baltimore County dropped 37.2 percent, from 86 to 55 new-home sales, and Harford County fell 33.7 percent, from 92 to 61 sales.

No county experienced an increase in new townhouse sales in December, as only 258 units were sold, a 34.1 percent drop. Baltimore and Howard counties had the largest decreases, falling 36.6 and 36.4 percent, respectively.

Condominium sales dropped 50 percent in the Baltimore area in December. Sales in Baltimore County fell 69.6 percent.

Pub Date: 2/28/99

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