Real estate statistics for Crofton in July 2009 were much improved over last month and, in some categories, over the same month last year. 

• Average days on market for sold properties declined over 45%, from 122 in 2008 to 66 July this year -  which was nearly the same as the difference between last month and this.
• The number of units sold in July 2009 (33) is stable, compared to the same month last year (34).
• Median and average sold prices are down less than 5% from last year.
• Average selling price was almost 95%, compared to 92% for July 2008.

I wouldn’t get too excited, though, because the number of new non-contingent contracts in July was only fifteen - less than 10% of the available inventory.  Add to that the forty-five new listings last month, and you’ll see why my optimism is guarded.

Just take a look at this graph, to see what a small percentage of homes have sold each month since the beginning of the year.  With an inventory like this, we can’t expect Crofton home values to revive any time soon.

I thought you might like to see a comparison of average home prices in the Greater Crofton area – Crofton (21114), Davidsonville (21035, Gambrills (21054) and Odenton (21113).

Gambrills and Davidsonville both have some high-value properties that can dramatically impact the sales statistics, and not necessarily reflect the market very accurately… especially during a month when very few homes sell.