As we continue our Market Trends tour through the MD Suburbs of DC we move north on Rt 1 from Beltsville, MD to Laurel, MD - specifically, the historical part of Laurel. Not all of the 20707 zip code is historical. In fact, Laurel Lakes, which is a new-ish community of mostly townhouses is in the 20707 zip code. However, this zip code also include historic Main Street which has a Festival every year as well as a thriving commercial district that offers shopping and lots of restaurants.

90-day stats for Single Family properties in
LAUREL, MD20707 as of March 5, 2010
Median List Price $310,069 Average List Price $338,873
Total Inventory 81 Price per Square Foot $155
Average Home Size 2,619 Median Lot Size 9,290
Average # Beds 3.89 Average # Baths 2.85
Homes Absorbed 5 Newly Listed 5
Days on Market 230 Average Age 33

Quite honestly, this chart is just as depressing as the other towns we have been visiting in Prince Georges County, MD. Lots of homes on the market, moderate pricing and long Days on Market. You can also see that just as many homes have come on the market (5) as have been absorbed by the market (5). This shows an extremely slow turnover or "sell" rate.

Median Price for homes in LAUREL, MD 20707

Median Price for homes in LAUREL, MD 20707 as of March 5, 2010 is $310,069
Inventory for homes in LAUREL, MD 20707

Inventory for homes in LAUREL, MD 20707 as of March 5, 2010 is 81
Average Days on Market for homes in LAUREL, MD 20707

Average Days on Market for homes in LAUREL, MD 20707 as of March 5, 2010 is 230

The charts are trying to show positive news. Median pricing is trying to find a level but still bouncing around. Inventory was declining which was a good thing but it is now beginning to creep up again which will increase downward pressure on prices as home compete with one another for buyers. Days on Market is moving in the right direction although the number of days is still extremely long.

The pricing chart is interesting because it shows a kind of delayed reaction to outside stimulus and home owner wishful thinking. Check this out: home prices are pretty steady up through November of 2009 when the home buyer tax credit was due to expire. Certainly there was a lot of activity and probably a lot of homes got sold during that time period.

Homeowners heard about the activity and started to raise prices in response (big spike), winter came on with the Holidays and then the snow storms and a very lethargic market. Prices started to plummet, again. Now, we have returned to August 2009 levels.

Home owners that want to sell their home would be advised not to chase the market but to lead the market with aggressive pricing to sell their home.