CROFTON MD REAL ESTATE MARKET SHOWS IMPROVEMENT
The real estate market in Crofton (21114) was looking up for home sellers in February, compared to the two previous months.
I consider the best indicator of local market trend to be total new listings compared to total new sales. When new listings significantly outnumber new sales, it is a sign of growing inventory. Based on the law of supply and demand, a growing inventory means falling prices and more days on the market. In February there were 59 new sales, 3 more than the new listings (56) in the 21114 zipcode. Yay!!!! Let's hope this turns into a trend.
Other data from MRIS (the local multiple listing service) for February 2007, comparing them with February 2006:
- Average "sold" price - DOWN 4.45%
- Median "sold" price - DOWN 6.3%
- Total homes sold UP 7.5%
- Average days on market UP 58.8%
Find out more about real estate activity in the immediate area around your home, by clicking on Market Snapshot at any time. 'No cost or obligation, and I promise I won't call you. Free information, at your own pace!
Home buyers, take a look at home prices... the decline is good news for you! With prices and rates down, it's a good time to buy a Crofton home.
CROFTON HOMES FOR SALE (21114)
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Copyright 2007. All rights reserved. Margaret Woda
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