Elkridge Experiences More Distressed Home Sales than Howard County as a Whole
Sorting through the state of the housing market in Elkridge.
Many economic forecasters believe that recovery from the Great Recession will be very difficult unless the housing market recovers as well. “Elkridge has been hit hard because there was a lot of new construction there just before the bottom dropped out of the market,” said Yvonne Deardorff, vice president of Lakeside Title Company in Columbia. “Condos were especially hard hit. Some people have watched prices drop more than $200,000, [representing] over 50 percent of their home’s value.” Owners in Elkridge hoping to sell newer homes often are competing against builders who are still selling new construction in their developments at drastically reduced prices. Today’s market bears mixed news for Elkridge. Clearly, there are signs that the …
