Crofton, MD Market Report for July, 2013

The Crofton MD real estate market is doing very well moving into the secone half of the year. Despite housing inventories that have been low for quite some time, and interest rates creeping closer to 5%, Crofton experienced its best month in July since 2009.

Sold Listings

Median Sold Price

The median sold price of Crofton listings has been trending down. Earlier in the year, the more expensive homes were selling, and are no longer in the inventory, thus putting downward pressure on the medial sold price.

Average Days on the Market

Since the beginning of the year, the amount of time a home in Crofton MD stays on the market has been dropping considerably. In July, the average number of days was 26. A strong real estate market, and low inventory is contributing greatly to this excellent statistic for sellers.

Average Sold to Original List Price Ratio

As you can see, in July, 2013, sellers were getting pretty close to full price for their home. Multiple contract situations were evident, and buyers were having to compete aggressively for new listings. Good for sellers, not great for buyers. The pendulum will swing again...count on it.