BALTIMORE NEW HOME SALES DECLINE DURING
JANUARY 2000
BALTIMORE - (March 15, 2000) - The Meyers Group (TMG), a leading
provider of new home real estate information, has released its January
2000 results for the Baltimore metropolitan market area. In January of
2000, new home sales decreased 20.2% in comparison to January of 1999.
Overall, reported net new home sales totaled 618 compared to the 774 new
home sales in 1999.
According to Patrick Crowley, Senior Consultant with The
Meyers Group, "Metro Baltimore's January 2000 results indicated that
higher single family and townhouse prices were measured this year, a condition
likely due to the fact that a higher proportion of larger, more expensive
units were sold during the period. In contrast, condominium activity remained
unchanged in terms of net sales results, yet accounted for a higher proportion
of lower priced, smaller units than were sold a year ago, resulting in
the average price reduction measured during January."
|
Baltimore, MD January 2000
|
January '00 Net Sales
|
January '99 Net Sales
|
%Change
|
January '00 Average Price
|
January '99 Average Price
|
%Change
|
|
All Products
|
618
|
774
|
-20.2%
|
$193,169
|
$185,540
|
4.1%
|
|
Single Family
|
293
|
399
|
-26.6%
|
$261,417
|
$240,540
|
8.7%
|
|
Townhouse/Plex
|
268
|
318
|
-15.7%
|
$134,934
|
$128,452
|
5.1%
|
|
Condominium
|
57
|
57
|
0.00%
|
$116,161
|
$119,025
|
-2.4%
|
» Overall Net Sales for the Baltimore metropolitan area were down 20.2% compared to January 1999
» Overall single family net sales for the Baltimore metropolitan area were down 26.6% compared to January of 1999.
» Overall townhouse net sales
for the Baltimore metropolitan area were down 15.7% compared to January
of 1999.
About The Meyers Group
Founded in 1985, The Meyers Group has quickly become the largest provider
of new home real estate information in the United States. The company's
mission is to deliver the most accurate, timely and technologically advanced
information possible via a wide range of products.
The Meyers Group also has a Consulting Services Division that conducts more than 600 feasibility studies in 14 states for the top builders, developers, investors and lenders in the real estate industry. The key management team has over 120 years of combined real estate experience and holds advanced degrees in economics, business, marketing and psychology.
Clients of The Meyers Group range from homebuilders and land developers to real estate investors, financial institutions, and investment banking firms. The company is regarded as a premier source for new home statistics by major media publications and news organizations around the country. Information about The Meyers Group can be accessed through its Web site at www.meyersgroup.com.
# # #
*Complete Executive Summary Reviews are available upon request.
Contact:
Hunter Robbins
The Meyers Group
(310) 656-0084 ext. 225
hrobbins@meyersgroup.com
toll free: 1.800.639.3777 | e-mail: HWMIcustomerservice@hanleywood.com
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