Monthly Archives: February 2008

Maryland Home Prices Hold Steady in 2007!

According to recently released data from MRIS, the Maryland MLS database, home prices held steady across the state for the 2007 year. In fact, across all counties in Maryland, the average home selling price increased by 1.1%!

County Average Selling Price %
Change
2007 2006
Anne Arundel

$416,404

$418,564

-0.52%

Baltimore City

$183,527

$173,157

5.99%

Baltimore

$308,413

$300,502

2.63%

Carroll

$364,703

$362,271

0.67%

Frederick

$350,985

$363,854

-3.54%

Harford

$296,884

$293,728

1.07%

Howard

$456,372

$453,751

0.58%

Montgomery

$550,210

$529,511

3.91%

Prince George’s

$333,139

$341,456

-2.44%

MARYLAND*

$359,375

$355,574

1.1%

*Estimated

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Maryland Homestead Tax Credit

Maryland real estate property owners will receive an assessment notice containing a Homestead Tax Credit Application for the first time this year beginning January 1, 2008.

This one-time application must be submitted in order to insure that the credit is granted only on eligible properties and not on properties that are rented or used as vacation homes. For commonly asked questions and to file an application on-line visit the Maryland State Department of Assessments and Taxation website or mail the paper form in the postage paid envelope included in the assessment notice.

Homeowners not reassessed until 2009 or 2010 can wait until then to submit a Homestead Tax Credit application.

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