New-home sales in area fell 22.9% in first quarter


May 12, 2002

Sales of new homes in the Baltimore metropolitan area declined 22.9 percent in the first quarter of this year compared with the same period last year, according to statistics released by the Meyers Group, a Washington-based firm that tracks new homes and construction.

Sales of single-family homes, townhouse and condominiums totaled 1,620, down from 2,102 in the first three months of last year.

March sales were 23.7 percent lower than those of March last year.

The biggest drop in the first quarter was in Anne Arundel County, where sales were off 53.2 percent. The average sales price for a new home in the county rose to $256,357 from $215,634, an 18.9 percent increase.

In other jurisdictions in the first quarter:

Baltimore County: sales down 23.8 percent; average sales price up 38.3 percent to $257,687.

Carroll County: sales down 10.9 percent; average sales price up 3.5 percent to $209,942.

Harford County: sales down 15.6 percent; average sales price up 6.3 percent to $190,856.

Howard County: sales down 15.2 percent; average sales price up 16 percent to $347,239.

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