Baltimore House sales, slower, lower but average prices rock steady

From the Baltimore Sun.

The volume of home sales in the Baltimore area fell 17% in August - 2,868 homes were sold in Baltimore and the five surrounding counties, compared with 3,460 homes sold in August 2006, the Metropolitan Regional Information Systems Inc. (MRIS) report.

The average price fell US$70 to US$323,215 during the corresponding month a year earlier, MRIS said.

Sellers, obtained just under 95 % of asking price. Homes were sold after an average 84 days on the market, a 44 % increase in selling time from August 2006.

A Sun analysis this year found that nearly 30 % of the city homes that lenders began foreclosure proceedings on from January through March belonged to "nonowner occupiers,"