New-home sales drop 20.2 percent


average prices up

March 19, 2000

New-home sales for the Baltimore metropolitan area decreased 20.2 percent in January when compared with January of last year, according to statistics released by the Meyers Group, a Washington company that tracks and analyzes new-home construction.

Overall, the Baltimore area recorded 618 sales in January, down from 774 for that month in 1998.

Sales in the Washington metropolitan area dropped by 15.4 percent.

While sales were down, the average price for all home products in the Baltimore area increased 4.1 percent to $193,169 from $185,540.

Single-family home sales fell 26.6 percent to 293 from 399 last year. However, the average price was up 8.7 percent to $261,417 from $240,540. Townhouse sales dropped 15.7 percent to 268 from 318. The average price increased 5.1 percent to $134,934 from $128,452.

Condominium sales remained unchanged with 57 units sold. The average price fell 2.4 percent to $116,161 from $119,025.

Washington-area sales slipped to 1,885 from 2,229 a year ago. The average sale price increased 7.6 percent to $239,009 from $222,036.

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