Contact MargaretCrofton Home Sales Up 166% in November
December 10th, 2009 Categories: Market Updates
The number of homes sold in the 21114 zipcode last month (40) was 166.67% higher than sold in November 2008 (15).
Can there be any explanation other than the first-time home buyer credit? What can I say except “WOW!”
More good news for Crofton real estate last month:
- Days on market for sold homes (86 days) was down 14% from November 2008 (100 days)
- The percentage of sold price vs. list price was up slightly to 93.12% from 92.11% in November 2008.
- Average and median sold prices remained relatively stable, dropping less than 2% in 2009 (compared to the same month last year) to $345,173 and $317.250 respectfully.
The first-time buyer tax credit was scheduled to expire on November 30, 2009, so these closings were the result of contracts probably written in October before the tax credit was extended. Hopefully this extended credit will continue to boost home sales in the next few months.
If you’re thinking of selling anytime in the next year, NOW is a great time to list your home! I wouldn’t wait until the tax credit expires, because it’s likely most first-time buyers will already be settled into their own home.
P.S. If you already own a home, you may now be eligible for a $6500 tax credit when you buy your next home. Contact me for more information.
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