Real estate expert Stephanie Schultz of Ellicott City in Central/northern Howard County, Maryland, is reporting that while the overall market is weaker than several years ago, the most predictable effect through mid-range price points has been on the probability that a home will sell, and the time that it takes to sell.

Final sale prices for those homes which do successfully sell vary considerably, and not always in a downward direction. Average sold price is near $430,000.

She goes on to report that market statistics for moderate and mid-priced homes actually can show modest rises in final sale prices, although the presence of seller-paid closing costs and other concessions have become much more prevalent in the market.

Prices for higher-priced neighborhoods in contrast have been softer, with some homes requiring significant price reductions before sale. New construction communities also have been compelled to seek more aggressive pricing and marketing strategies to sustain their sales.

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Published: January 15, 2008

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