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Gambrills MD Real Estate Market Update - April 2011

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

Average and median home prices increased in Gambrills last month (April 2011), compared to the previous month (March 2011); but the number of closed sales was down to 5 in the entire zipcode. 

I have trouble comparing any 2011 real estate statistics with those in 2010, in Gambrills or anywhere, because last year's numbers don't truly reflect market conditions.  There's no way of knowing the true impact of the tax credit for first-time home buyers…  maybe in another year or two when we can see it in the perspective of a five year trend.  Keep that in mind, as you view Year on Year statistics in this chart.  I'm more inclined to focus on the Month on Month statistics:

Gambrills 4.11

What do these numbers mean to you?

With such a small sampling of sold homes, it's hard to draw any conclusions regarding real estate trends in Gambrills.  Additionally, Gambrills communities vary widely in price range and one custom-built upscale home can throw off price calculations significantly.

Two items that aren't directly affected by price are the number of closed sales, down over 60% from last month and 50% from last year, and days on market, up 15% from last month and 74% from last year.

  • Home Sellers:  Expect your home to be on the market for six months or longer.  To sell more quickly, you'll have to price your home aggressively and make sure it's in model home condition.
  • Home Buyers:  Gambrills is a wonderful place to live, convenient to Baltimore, Annapolis, and D.C., and super-convenient to Fort Meade and NSA.  There are some highly motivated sellers in this area, so you can probably find a nice home at a good price.

Whether you're considering a home purchase or sale in this area, you should consider statistics beyond Gambrills (to Crofton, Odenton, Davidsonville) and limit them to similar communities.  You'll also want to view specifics of recent home sales, comparing yours (or one you buy) to others of similar size, features, condition, and age. 

Submit a request online or call me at (301)346–2923 for this information.

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This infoMargaret Wodarmation was provided to you by Margaret Woda, an Associate Broker with Long & Foster Real Estate in Crofton Maryland. Contact Margaret today for general real estate information or to learn how she can help you buy or sell a home in Annapolis, Bowie, Crofton, Davidsonville, Gambrills, and Odenton. 

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Comments (6)

Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Margaret - Great real estate market report for Gambrills MD.

May 25, 2011 05:26 AM
June Piper-Brandon
Coldwell Banker Realty - Columbia, MD
Creating Generational Wealth Through Homeownership

Margaret, this is great information for potential sellers and for buyers too.  They can now buy and sell with the knowledge of the market in Gambrills. 

May 25, 2011 09:13 AM
Debbie Cook
Long & Foster Real Estate, Inc - Silver Spring, MD
Silver Spring and Takoma Park Maryland Real Estate

It is tough to compare last year to this year's stats.  That Homebuyer Tax credit really has thrown a big wrench into things!

May 25, 2011 12:16 PM
Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

Margaret, we have many neighborhoods like this where the numbers are so small it's hard to tell year after year. Especially, like you said, with the tax credits last year. I'm just happy some things are selling!

May 27, 2011 03:44 AM
Teral McDowell
Referral Patners LLC - Murphy, TX

Your housing market is very smiliar to parts of our area here in Dallas. I like the way you addressed the home sellers to anticpate time to sell and be prepared. I just contracted on one my seller was getting a little nervous.

On another note one thing Raincamp can't provide is how to fix the housing crisis other than that Raincamp was interesting namely because Nikesh P. and Bob Stewart were there to deliver parts of the program. I have enjoyed my experience here in the Rain and I would like to see Market Leader make it a more stable environment.

May 27, 2011 11:53 AM
Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation

Michele - Thank you!

June - Gambrills is a toughie, with homes in the 2-300's and other neighborhoods pushing $1 million.  In a market like this, with so few homes closing, I'm not sure how much this means.  But I do know sellers and buyers alike want to see this information.

Debbie - You're right.  None of the year on year numbers mean anything because we're not comparing apples to apples.... more like apples to watermelon.

Connie - What were they thinking... using tax dollars to artificially inflate the market.   I don't know about you, but everyone I know who bought a home would have bought a home anyway, but spread out over the summer.

Teral - I came so close to going to Dallas raincamp, but it's a good thing I didn't because issues were popping on pending closings.  Glad you enjoyed it.

May 27, 2011 11:18 PM