But decline in number sold is slimmest percentage decline in months
The number of homes sold in the Baltimore area fell 8.5 percent in May, and the average sales price plunged 11.4 percent compared to a year earlier, statistics released Wednesday showed.
The number of homes that changed hands last month -- just over 1,900 -- represented the slimmest percentage decline in sales in months in the metro area, which includes Baltimore City and Baltimore, Anne Arundel, Howard, Harford and Carroll counties, according to the report by Metropolitan Regional Information Systems Inc.
The average home price in May fell to $280,015 from an average $315,989 in May 2008, the real estate listing service said. Average prices in metro Baltimore, which took their steepest dive in more than a decade in April, have been below the $300,000 mark each month since November.
Home values in May fell at least 9.25 percent in each jurisdiction except for Harford County, where priced remained flat.
The number of homes sold rose slightly in Anne Arundel County, remained flat in Carroll County, fell nearly 4.5 percent in Baltimore County and more than 13 percent in Howard and Harford counties and dipped by 17.5 percent in Baltimore city.
The May report showed it took nearly four and a half months, on average, for homes to sell. Sellers in May got about 90 percent of their asking price, MRIS said.
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