Maryland Real Estate Statistics - May 2010

New Maryland Real Estate Statistics show Howard, Anne Arundel and Baltimore Counties UP and Caroline and Garrett counties down.

The Maryland State Association of Realtors released it’s May 2010 statistics today.

Prince Georges County showed the most significant increase in sales with a 61.7 % increase in pending units sold. P.G. County home sales surged from 494 last May to 799 this year.

Howard, Baltimore and Anne Arundel Counties all showed decent gains in units sold.

Garrett County, home to Deep Creek Lake showed a nasty 32% drop in home sales showing that the 2nd home buyer is slipping away in a cash strapped economy.

Average sales prices continued to decline:

5% Drop May 2009 -May 2010
11.8% Drop May 2009-May 2008
5.5% Drop May 2008 -May 2007

In May 2007 the average sale price was $366,072 compared to this May’s average sales price of $289,900

Big Question is will 2011 show an increase or a continued decline?