Home sales are falling in neighborhood near you

THE REAL ESTAT WONK

November 30, 2007|By JAMIE SMITH HOPKINS

A new analysis -- by which I mean, of course, number-crunching and general squinting here at Wonk central -- shows that the big drop in Baltimore-area home sales in October was a pain felt in the vast majority of communities.

Here's a look at trends at the ZIP code level, taken from deals tracked by Metropolitan Regional Information Systems. I'm including the 87 ZIP codes that had at least five sales in October 2007 and at least five sales in October 2006:

Number of ZIP codes where home sales fell: 70

where sales rose: 10

with no change in sales figures: 7

Number of ZIP codes with a drop in average price: 44

where prices increased: 35

with no change in price: 8 Number of ZIP codes where average prices topped $500,000: 10

Number of ZIP codes with average prices under $200,000: 14

Number of the 10 most expensive ZIP codes that saw a decrease in average prices: 2

Number of the 10 cheapest ZIP codes that saw a decrease in average prices: 8

Interested in which ZIP code did what? Go online to baltimoresun.com/real estatewonk.

Unreal real estate

The Real Estate Metaverse Association -- Remeta -- said this week that it has joined forces with mediation and negotiation company Open Dialogue to help residents of Second Life settle real estate complaints. Second Life is a 3-D online society.

That's right. You can now pay a fee to resolve a dispute about real estate that doesn't, in the physical sense of the word, exist.

On the other hand, there's nothing like arguing over a virtual house to take your mind off the slump.

Find Jamie's blog at baltimore sun.com/realestatewonk.

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