Question-and-Answer Session
Operator
Thank you. (Operator instructions) Your first question is from David Darst from FTN Midwest.
David Darst - FTN Midwest Securities Corp.
Bill have you given us any statistics in the past on how the construction portfolio is allocated among your three markets?
William J. Reuter
David, we have not. You mean such thing in Maryland and New Jersey?
David Darst - FTN Midwest Securities Corp.
It sounds like your Pennsylvania market the real estate values are holding up well.
William J. Reuter
I would say Pennsylvania and Southern New Jersey are all holding up well. I think. Maryland is the cherry somewhat but not nearly as bad as all other constructions in the country.
David Darst - FTN Midwest Securities Corp.
Michael, do you have any information that will...
Michael M. Quick
Would you like to know what, how much we have in each state?
David Darst - FTN Midwest Securities
Yes, so I guess Maryland would be the first.
Michael M. Quick
Okay we have in Maryland $869 million of which $368 million is in investment properties, $500 million and change is in LAD Construction, $102 million is one to four family constructions, $72 million is commercial, $14 million is multi-family and approximately $283 million is of land.
David Darst - FTN Midwest Securities
Okay. Thank you and then regarding your deposit close and the decline in core deposit. Were most of those you accounts moving into CDs that is safe in the bank or did you actually see an outflow of core deposits?
William J. Reuter
David, that was about 50/50 and in the demand area, one of the biggest, you know, we have actually seen the increase in accounts in our demand area versus the average balance that is continuing to drop because of the economy.
David Darst - FTN Midwest Securities
Okay, thank you.
William J. Reuter
And David, that makes kind of sense because, what we look at most closely is how many net new accounts we are generating and our net new accounts are net new are actually up but the average balances are down and if you are paying more for gasoline and you are paying more for healthcare and paying more for food that would make sense if the average balance would be down somewhat.
Operator
Thank you. Your next question is from Steve Moss with Janney Montgomery Scott.
Steve Moss - Janney Montgomery Scott
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