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Home sales jump but distressed properties drag down Baltimore area prices
Home sales jump but distressed properties drag down Baltimore area prices

Sales of distressed properties in the Baltimore region continued to distort the area's real estate market in October, inflating overall sales but acting as a drag on home prices, according to the monthly report from the regional multiple listing service. October sales were up 13 percent to 2,562 sales, the highest October total since 2006, according to the report by RealEstate Business Intelligence, a subsidiary of the Metropolitan Regional Information Systems multiple listing service. Yet the median sales price was essentially flat at $239,000. Both the restrained prices and growing volume reflect a surge in sales of properties owned by banks or other financial institutions and...

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