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Gambrills, MD Market Analysis

By John Newman

Real Estate Agent with The Newman Group Real Estate

January 17, 2008 05:30 AM

This is the first market analysis for Gambrills, MD of 2008. This will be updated on a monthly basis. As 2007 came to a close, the Gambrills housing market was showing some signs of stabilizing. Obviously, we would need several more months data to truly define the current market. As we analyze the market there are a couple of interesting observations which I have noted below.

GAMBRILLS, MD Market Statistics
From: 12/01/2007 to 12/31/2007

	Residential Unit Sales Number of Bedrooms					Active Listings			Time on Market
Price Class	2 Or Less	3	4 or More	Condo Coop	Ground Rent	Residential	Condo Coop	Ground Rent	of Units Sold (No. of Units)
Under $100,000	0	0	0	0	0	0	0	0	1 -30 Days	1
$100,000 - 149,999	0	0	0	0	0	0	0	0	31-60 Days	3
$150,000 - 199,999	0	0	0	0	0	1	0	0	61 - 90 Days	2
$200,000 - 249,999	0	0	0	0	0	0	1	0	91-120 Days	1
$250,000 - 299,999	1	0	1	0	0	1	0	0	Over 120 Days	6
$300,000 - 349,999	0	0	0	0	0	4	2	0	Total	13
$350,000 - 399,999	0	0	2	0	0	11	1	0
$400,000 - 449,999	0	0	1	0	0	5	1	0	Type of Financing of Units Sold (No. of Units)
$450,000 - 499,999	0	0	0	0	0	4	0	0	Type of Financing of Units Sold (No. of Units)
$500,000 - 599,999	0	0	2	0	0	9	1	0	Conventional	10
$600,000 - 699,999	0	0	2	0	0	7	0	0	FHA	1
$700,000 - 799,999	0	0	1	0	0	6	0	0	VA	0
$800,000 - 899,999	0	0	2	0	0	5	0	0	Assumption	0
$900,000 - 999,999	0	0	0	0	0	8	0	0	Cash	1
$1,000,000 - 2,499,999	0	0	1	0	0	4	0	0	Owner Finance	0
$2,500,000 - 4,999,999	0	0	0	0	0	1	0	0	All Other	1
$5,000,000 & Over	0	0	0	0	0	0	0	0	Unreported	0
Totals	1	0	12	0	0	66	6	0	Total	13
Grand Totals	13					72

	2007	2006	% Change
Total Sold Dollar Volume:	$ 7,643,913	$ 2,924,900	161.34 %
Average Sold Price:	$ 587,993	$ 487,483	20.62 %
Median Sold Price:	$ 590,000	$ 477,450	23.57 %
Total Units Sold:	13	6	116.67 %
Average Days on Market:	114	93	22.58 %
Average List Price for Solds:	$ 642,116	$ 529,100	21.36 %
Avg Sale Price as a percentage of Avg List Price:	91.57 %	92.13 %

Total NEW listings:	6
Total Properties Marked Contract:	6
Total Properties Marked Contingent Contract:	3
Total NEW pendings (Contracts + Contingents):	9

Source: Metropolitan Regional Information Systems, Inc. - MLS Resale Data
Copyright 2008 - Information deemed reliable, but is not guaranteed.

1) Avg. Sale Price as a percentage of list is 91.57% compared to 92.13% a year ago and down from 95.29% last month. What does this mean? As a seller you can use this information (all other things being equal) to evaluate the quality of your offers. As a buyer you can use this to structure your best offer. The other thing that we are seeing is an increase in the amounty of seller help given to buyers, this number is not reflected in this chart.

2.) There were six new listings in December, but nine properties went under contract. If this trend continues this could be a sign of a market stabiling and/or change to a sellers market from a buyers market. Also, this trend if it were to continue would slowly chip away at the existing supply of homes. When supply is less than demand prices should start to increase.

3.) The average days on market has increased from 93 days a year ago to 114 days today. This number is also up from 87 days a month ago. If you are selling your house you should take this number into consideration to determine the approximate time it will take to market your home.

4.)Avg. List Price, Avg. Sold Price and total volume data should not be read into as closely because these numbers can be skewed due to the amount of new construction in the Gambrills area.

If you are thinking about buying or selling a home in Gambrills, MD, please visit www.THINKNEWMAN.com or give me a call at 301-343-7671. WHEN YOU THINK REAL ESTATE, THINK NEWMAN!!