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Crofton MD Real Estate Market Update (21114) December 2010
There was a 23% increase in home sales last month (16) from December 2009 (13). In fact, last month's home sales were higher than the previous month, as well (14). I'm very happy to report this reversal in the four years of falling home sales since 2006 when there were 36 homes sold in December. I think that's good news for Crofton home sellers!
We also saw that slightly more expensive homes sold in December 2010 ($341,188) than the same month in the previous year ($328,776). This is true in spite of the fact that sale prices were only 92.9% of list price, compared to 93.87% last year. The bottom line is that the average sale price vs. list price was almost 4% higher in the last month of 2010 than it was in December 2009. Again, I think this is good news for Crofton home sellers.
Homes that sold in December 2010 were on the market longer (90 days) than those which sold in December 2009 (59), but many fewer days than November 2010 homes (117). County-wide, homes were on the market for 111 days during the same month, a 7% increase from December 2009. Bad news/good news… a little bit of each!
The average price of sold Crofton homes in December was $317,081, up 2.74% from the previous year at $308,638. The median price was down by 7.3%, however, to $282,750 from $305,000 the previous year. Again, home sellers, this news is mixed.
Frankly, even mixed news is good for Crofton home sellers... especially when key improvements are the number of units sold and the higher price range of homes sold. I'd keep that champagne on ice for a little more improvement in the Crofton real estate market, but I think home sellers can be cautiously optimistic. With the right price and real estate agent, selling your home at a fair price is a realistic expectation.
With 130 homes for sale in Crofton MD, buyers who want to live in this area have many options for finding and buying a home. Many of these homes have been on the market for 90 days or longer, and some of those sellers may be willing to negotiate.
Given these two ideal conditions and today's low interest rate, this is an excellent market for buying a Crofton home with terms favorable to you.
Real Estate and community information for home buyers and sellers, military transferees, and rookie agents in the greater Crofton area, including Bowie, Davidsonville, Fort Meade, Gambrills, Odenton, and the U.S. Naval Academy in Annapolis.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.