| 2009 | 2008 | % Change | |
| Sold Dollar Volume | $9,072,291 | $16,591,700 | -45.32% |
| Average Sold Price | $348,934 | $345,660 | +0.95% |
| Median Sold Price | $342,000 | $297,000 | +15.05% |
| Total Units Sold | 26 | 48 | -45.83% |
| Average Days on Market | 59 | 85 | -30.59% |
| Average List Price for Solds | $380,357 | $367,389 | +3.53% |
The Crofton MD real estate market took quite a hit when comparing August 2009 to the same period in 2008. A 45% reduction in the sales volume and units sold is very uncharacteristic of the Crofton MD market. I don't believe that there is any specific reason to point to, especially since overall sales in Anne Arundel County were up once again.
It does seem though, that new listings are selling quickly. This can be evidenced by the Average Days on Market reduction of -30.59%. That is a pretty big reduction from the same period last year. Inventory is down and good priced listings are selling, in some cases with multiple contracts.
Median and Average sales prices are creeping up but in reality, that is just a reflection of higher priced homes being sold during this period. Oddly, since the first time home buyers market is the one that is very active right now, many of the homes that sold in Crofton MD were in the price range over $500,000. Certainly not a first time home buyers range.
The sales statistics for Crofton MD will stabilize again. Right now, the real estate market in Crofton MD is pretty robust and that doesn't seem to be changing any time soon.
Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com
Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist
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