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Crownsville MD - Market Report for May 2007 vs. May 2006

By Margaret Woda

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

June 10, 2007 02:54 PM

CROWNSVILLE MD 21032

Sales statistics for Crownsville, MD (21032) were almost scary for May 2007.

There were twenty-four new listings and only three new sales (plus three contingent contracts). Talk about an imbalance of supply and demand! All I can say is this: BUYERS, IT'S A GREAT TIME TO BUY A HOME IN CROWNSVILLE. (Sorry, Sellers!) Here are some additional statistics from Metropolitan Regional Information Systems, Inc. (MRIS), comparing May 2007 with May 2006:

Total Units Sold: Down 61.54%
Total Sold Dollar Volume: Down 71.09%
Average Sold Price: Down 24.84%
Median Sold Price: Down 43.17%

Contrary to other areas, however, the days on market are also Down - from 139 to 55. That's the one bright spot in real estate trends for Crownsville in May 2007, as compared to May 2006.

If you would like to learn about real estate activity in your neighborhood, or a community where you are considering buying, click on Market Snapshot to receive a map by email, with current listings and recent sales listed. If you like, you can subscribe to receive an updated Market Snapshot monthly. No cost or obligation.

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Aziz Abdur-Raoof

RE/MAX Rewards - Columbia, MD

Howard Co. Real Estate Scoop

How would you describe this market as a seasoned realtor?

Do you have a listing in the Gambrills/Crownsville area?

Jun 10, 2007 04:15 PM

Margaret Woda

Long & Foster Real Estate, Inc. - Crofton, MD

Maryland Real Estate & Military Relocation

Good morning Aziz - Hmmmm.... interesting question...

I really don't think today's market in this area is any more complicated than a "Buyer's Market" - i.e., conditions are more favorable to buyers than sellers. It's as simple as Supply and Demand. This is one of the reasons why I always look first to "how many new listings?" and "how many new contracts?" - because these numbers are the best indicator to me of what's going to happen in the near future. I think most agents in our area fail to use these statistics to educate themselves or their clients. In fact, I always print out three months of zip code reports from the MRIS homepage to include with each contract I offer and each listing presentation. Consumers are very interested in this information - it's the listing agents (when I present an offer) who are resistant to these facts.

No, at this moment I do not have a listing in Gambrills/Crownsville, but it is part of my market area. Gambrills is adjacent to Crofton (most people don't know where one stops and the other starts) and Crownsville is just up the road from both. Do you ever get over to this area, Aziz? Every now and then I used to sneak into Howard County, but I haven't done so since I came out of retirement a few months ago.

Jun 10, 2007 10:54 PM

Margaret

I grew up in AA County and I am actively combing the are for my client. My client loves Bretton Woods, however, the listing that are active are so so. Good tips, I will remember them and I believe the new stats just came out for last month. Education is the key.

If you have a waterfront buyer --please bring them by 967 Phillips Drive in Arnold(Shore Acres).

Jun 11, 2007 03:28 PM

Crownsville MD - Market Report for May 2007 vs. May 2006

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Margaret Woda

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