Crofton MD had a pretty good real estate month in July, 2009. The market was pretty much unchanged from the same month last year. 34 houses went to settlement in 2008, while 33 sold in 2009.
Keep in mind that July 2008/2007 sales showed a significant reduction of almost 40%. Looking at the data it would certainly seem to indicate that the real estate market in Crofton, MD has stabilized quite a bit, and seems to be on the rise.
Along with the 33 houses that sold last month, 32 also went under contract. This bodes well for future closings.
There also seems to be more of a sense of urgency on the part of buyers because of a dramatic reduction in the number of Days on the Market, 45.9%. The Days on the Market in Crofton, MD went from 122 to 66 when comparing July 2008 to July 2009. This is a huge reduction and has to be another indicator that the market is stabilizing.
Once again, sales were most robust in the price range below $500K.
According to the statistics provided by the Metropolitan Regional Information Systems, Inc., our local MLS, buyers were more willing to pay closer to the actual list price. The Average Sale Price as a % of Average List Price was 94.86% compared to 91.95% in July of 2008.
If you've been fence sitting, waiting for the market to drop further in Crofton, MD, you might just have missed your opportunity.
There is still time though to get a great deal on a Crofton, MD home.
If you're coming into the area because of a relocation to Ft. Meade, Crofton is a great place to purchase. Crofton, MD is about 10 -15 minutes from Ft. Meade. Crofton is ideally situated between the Baltimore and Washington, DC employment markets.
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Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com
Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist
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