The Crofton real estate market has remained more stable over the last month than I anticipated, In fact, the Average Sold Price dropped only 5.43% from last year, while the Median Sold Price went up 3.04%
Total units sold were in line with last year's - 45 in 2007 and 41 in 2006. Days on Market were about the same as last year, too - 66 in 2007, only two more than the same month in 2006.
| Crofton (21114) | 2007 | 2006 | |
|---|---|---|---|
| Total Sold Dollar Volume: | $ 16,346,250 | $ 15,748,000 | 3.80 % |
| Average Sold Price: | $ 363,250 | $ 384,098 | - 5.43 % |
| Median Sold Price: | $ 322,500 | $ 313,000 | 3.04 % |
| Total Units Sold: | 45 | 41 | 9.76 % |
| Average Days on Market: | 66 | 64 | 3.13 % |
| Average List Price for Solds: | $ 375,492 | $ 400,824 | - 6.32 % |
| Avg Sale Price as a percentage of Avg List Price: | 96.74 % | 95.83 % |
I was so impressed with these numbers that I decided to do an Absorption Rate comparison with Anne Arundel County, which had a less favorable month overall.
ABSORPTION RATE is the pace at which homes are absorbed by the market. By measuring the number of homes in inventory and the number of homes sold, we can estimate how long it will take to sell the homes currently available.
As you can see from this chart, Crofton is experiencing a far better real estate market than Anne Arundel County overall with about a 4-month inventory compared to the county with about a 9-month supply of housing available.
There are 66 detached homes on the market for sale now in Crofton (21114), between $354,900 and $899,900. Of these, 22 are priced under $500,000; 24 more are less than $600,000; 18 more are under $700,000 and the remaining two are priced higher.
There are 114 townhomes availble, with prices ranging between $220,000 and $390,00, including 60 priced under $300,000. Additionally, there are 7 condos for sale.ports
For more information about Crofton or anywhere in Anne Arundel County, contact Margaret Woda, RE/MAX Vision, 1662 Village Green, Crofton, MD 21114 (410)451-1900 mwoda@remax.net
Anne Arundel County Market Trend Reports:
Copyright 2007. All rights reserved. Margaret Woda
Comments(4)