CROFTON MD 21114 

Each month, when new sales statistics are published by the Metropolitan Regional Information Systems, Inc. (MRIS) - the multiple listing service for Crofton (21114) - the first thing I look at is the Total New Listings (76) and the Total New Contracts (41).  If these numbers are not close, then I can predict the future.  How, you might ask?  Well, it's a case of Supply and Demand.

If 76 property owners in Crofton put their homes on the market in a month when only 41 homebuyers elect to purchase a home, the inventory of homes for sale continues to grow.  Under these circumstances, the number of sold units and $ averages will continue to decline, while days on market will continue to increase as we move forward into the summer of 2007.

Here is a look at the "official" sales statistics from MRIS for May 2007, the most recent month for which information is available, compared to May 2006:

• Total Sold Dollar Volume:  Down 20.78%
• Total Units Sold: Down 13.79%
• Average Sold Price: Down 8.10%
• Median Sold Price: Down 7.91%

As you might expect, the average days on market is another statistic that does not bode well for home sellers: Up 20.69%

It is more difficult to know an accurate percentage for Average Sale Price vs. Average List Price (97.68% in 2007 vs. 97.39% in 2006) because the published information provides the List Price at time of Contract.  It does not take into account the original price or any subsequent price reductions.  I don't pay much attention to this, other than to warn my seller clients that they should not expect a full price offer.

For information about real estate activity in your neighborhood, or a community where you are thinking of buying a home, just click on Market Snapshot. 

Photo:  2090 Montpelier Ct., Crofton, MD.  Sold in 39 days, 5/14/2007, after a failed 5-month listing with another agent and broker.  For more information about this property, see www.CroftonRancher.com.