Monday, September 11, 2006

Glut by the Seashore

A Maryland man has not only dropped the price for his weekend condo but has added two WaveRunners and a pier into a package deal to anyone who will take the place off his hands. It's typical, says a Baltimore Sun article, of what's happening in Western Maryland resort areas -- a glut of condos and townhouses flooding the market.

At Ocean City and at Western Maryland's Deep Creek Lake, "the market is cooling as inventory has climbed and properties sit on the market longer. Nationally, the market for condos slowed significantly during the first half of the year, with more for sale now than at any time since the early 1990s, according to statistics from Moody's"

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