Home > Blogs > Margaret Woda > Real Estate The Woda Way

Crofton MD Real Estate Sales Up 160% Over Last Year

Real Estate Agent with Long & Foster Real Estate, Inc.

February 15, 2010 06:37 AM

Good news for home owners in Crofton MD... The number of homes sold in January 2010 was UP 160% from the same month in 2009. This year's magic number was 13 compared to only 5 units sold in January 2009.

Unlike some other months, when there was just one item of good news to report, we have other positive indicators for real estate in Crofton - at least for January 2010:

AVERAGE SOLD PRICE - Up 17.57% from $268,400 (2009) to $315,552 (2010)
MEDIAN SOLD PRICE - Up 16% from $250,000 (2009) to $290,000 (2010)
AVERAGE LIST PRICE OF SOLD PROPERTIES - Up 13.39% from $297,360 (2009) to $337,169 (2010)
UNITS SOLD - Down 47.65% from 164 to 86. Now THAT is good news!

It was fairly easy to explain a similar increase in "units sold" for November, given the fact that November 30 was initially the expiration date for the first-time homebuyer tax credit. That was somewhat confirmed when December numbers were much different - In fact, a 38% drop in "units sold" from the previous year. I really can't explain why the pendulum swung back in January since there was no huge incentive, change in mortgage rates or other single stimulus.

I guess we should just be grateful for the good news, as homeowners, and hope the trend continues.

Homebuyers, of course, would prefer to see the market continue favoring them over sellers, and buyers can take heart in the fact that there were 40 new listings in Crofton last month and only 8 new non-contingent contracts. With a ratio of more than 4 to 1 for new listings to new contracts, it looks like the inventory isn't shrinking any time soon. It's likely, therefore, that buyers will still have options - and that's what gives them strength in any real estate negotiations... the ability to walk away from one property and choose from others of similar size, features and condition.

For more specific information about your own neighborhood or type of home (detached, townhome, or condo), please contact me any time. I'll be happy to sit down with you and explore how real estate market conditions are likely to impact your home sale or purchase. I've been helping Crofton homeowneers since the 70's, and it would be a privilege for me to help you now.

Comments (17)
Subscribe to Comments Comment

Show All Comments

Sort:

Susie Blackmon

Ocala, FL

Ocala, Horses, Western Wear, Horse Farms, Marketing

Every time I post numbers I feel like I'm being negative! ;-)

Feb 15, 2010 06:44 AM

Brian Block

RE/MAX Allegiance, Managing Broker/Branch Vice President - McLean, VA

Northern Virginia & D.C. Real Estate

Margaret, while not quite back to 2006 or 2007 levels, this is certainly good news for Crofton. The market seems to be taking a turn for the better and you've done an excellent job at providing this news to your community in a very easy to understand, readable, and visually appealing way.

Feb 15, 2010 08:06 AM

Barb Szabo, CRS

RE/MAX Above & Beyond - Cleveland, OH

E-pro Realtor, Cleveland Ohio Homes

Margaret, That's one of the most positive reports I have seen in a while. I hope it's read by many!

Feb 15, 2010 08:06 AM

Connie Harvey

Pilkerton Realtors - Brentwood, TN

Realtor - Nashville TN Real Estate

Margaret, those are some great numbers. I do feel like it's going to be a good year.

Feb 15, 2010 10:12 AM

Thom Abbott

MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living - Atlanta, GA

Midtown Atlanta GA Condos For Sale

Margaret...great presentation on your numbers...it shows light at the end of the tunnel!

I know I've got some irons in the fire for early in the year...so I hope it keeps coming!

Feb 15, 2010 11:16 AM

Donna Yates

BHGRE - Metro Brokers - Blue Ridge, GA

Blue Ridge Mountains

Margaret: That is good news and we are reporting very positive improvements here too!

Feb 15, 2010 11:40 AM

Monika McGillicuddy

Berkshire Hathaway HomeServices Verani Realty - Hampstead, NH

Southern NH & the Seacoast Area

Nice to read good news! Our numbers are up in New Hampshire too! 2010 is going to be a much better year!

Feb 15, 2010 12:21 PM

Shirley Parks

Sands Realty 210-414-0966 - San Antonio, TX

Broker, 210-414-0966, San Antonio TX Real Estate

160%!!! Wow! That's really impressive. I love seeing the good news!

Feb 15, 2010 03:57 PM

Katerina Gasset

The Gasset Group & Get It Done For Me Virtual Services - Provo, UT

Amplify Your Real Estate & Life Dreams!

WOW !60%! That is a great stat! Thanks for sharing. Our market is a sellers market in most price brackets now.

Feb 15, 2010 04:39 PM

Thesa Chambers

West + Main - Bend, OR

Principal Broker - Licensed in Oregon

Hi - I am standing in the corner sheepishly waving at you - I miss you and all your wonderful real estate advice and knowledge - will be back much more frequently

Feb 15, 2010 04:45 PM

Bill Gassett

RE/MAX Executive Realty - Hopkinton, MA

Metrowest Massachusetts Real Estate

Margaret that is fabulous news! I hope the trend continues in your area.

Feb 15, 2010 10:34 PM

Ed Silva, 203-206-0754

Mapleridge Realty, CT 203-206-0754 - Waterbury, CT

Central CT Real Estate Broker Serving all equally

Margaret the results look promising, and maybe an indication for the rest of the east coast. The numbers that jump out are the January differential for 2008 and 2010. Only 3 more homes sold, but the avg differential in value of over $1,800,000 says at least one of them was pretty big. Thanks for sharing.

Feb 15, 2010 11:47 PM

Margaret Woda

Long & Foster Real Estate, Inc. - Crofton, MD

Maryland Real Estate & Military Relocation

As you've probably noticed, I've been on sabbatical from Activerain for about a month, and I'm so glad to log in and hear from my Activerain friends!

Susie - The trick is to find ONE good statistic, if possible. Our MLS provides a lot of this data and there's not usually this much good news... it's usually a little good and a little bad...

Brian - These reports are tedious to prepared, but I think they're critical to decision making for both buyers and sellers. Thanks for your kind words!

Barb - I agree! We had positive numbers in November, but I attributed that to the tax credit. No explanation for this that I can think of.

Connie - I sure hope so!

Thom - There's a little more effort required to track the statistics from year to year, but I think this info helps put things in perspective.

Donna - I'm so glad to hear that!

Monika - It sure is a lot better in Crofton, but I'll be able to tell more when I do the adjacent communities and find out if this improvement is consistent across the area.

Shirley - It IS impressive... I wasn't that surprised to see it in November (with the tax credit deadline in Nov.) but I sure was surprised to see it in January.

Katerina - That's good news. Quite a turnaround for your area, isn't it?

Thesa - This post marks my limited return to Activerain after a month hiatus for personal reasons. 'Hoping to do some more market updates today/tomorrow and then get back involved with Activerain.

Bill - Me too! 'Hope things are going well for you.

Ed - Very observant! Thanks for taking the time to actually read this... I think a lot of people aren't really into statistics. I believe this knowledge sets us apart from our competition.

Feb 16, 2010 03:05 AM

William James Walton Sr.

WEICHERT, REALTORS® - Briotti Group - Waterbury, CT

Greater Waterbury Real Estate

Hmmm...I may have to delve into an analysis like this for my area, Margaret...as several people have questioned whether the number of homes that sold last month were typical, and I discovered that they are, but that there has been a steady increase over the last several years...not as pronounced as the increase you reported, but an increase nonetheless...hmmmm....

Feb 16, 2010 03:16 PM

Jeanean Gendron

The Address Realty - Redding, CA

Specializing in Selling Unique Properties

Margaret, nice to see those numbers. I love this format and it gives us the right perspective for the bigger picture on the trending market. Nice post and good news in those numbers!

Feb 16, 2010 11:53 PM

Yvette Chisholm

Long & Foster Real Estate, Inc. - Rockville, MD

Associate Broker - Rockville, MD 301-758-9500

Margaret, great report and good information, looks like there is good news in your area...and DOM headed back down. Looks like your inventory is decent.

Feb 17, 2010 09:29 PM

Margaret Woda

Long & Foster Real Estate, Inc. - Crofton, MD

Maryland Real Estate & Military Relocation

William, it is time-consuming to track these numbers over a period of time, but I don't feel that the numbers of a single month tell homeowners or buyers the info they need to put things in perspective. The information certainly helps me!

Jeanean - Thank you for the compliment on this format. While I admire the pretty graphs that some agerns create and others purchase, I personally feel that this format best informs consumers.

Yvette - Yes, that's true... but unfortunately, neighboring communities aren't following the same positive directions. In another report, on FocusOnCrofton, I compared Crofton's numbers to adjacent zipcodes and the larger area statistics are disappointing.

Feb 20, 2010 03:54 AM