July 10th, 2012 Categories: Market Updates
The conference rooms at Long & Foster in Crofton are busy with buyers throughout the day. I see that as one indicator that the market is alive and well in the greater Crofton area.
The number of homes sold/closed last month (33) is fairly consistent with last year, down just slightly (from 34).
New contracts, including contingent contracts was 37, down from 40 in 2011.
However, these figures represent a larger share of the inventory than in 2011 because the there were “only” 78 active listings, down 32.76% from 116 in June 2011.
The average and median sold prices were up from May 2012 and from June 2011. On the surface this seems like great news, but it probably indicates that a few more higher-priced homes sold. No one can look at the 20% increase in median sold price and assume that means the value of their home went up by 20%. That’s wishful thinking!
For a market analysis on your home, or to view real estate statistics that are specific to your immediate neighborhood or type of home, just contact me. I’m here to help.
In the meantime, here’s a chart to help you visualize what’s been happening with Crofton home prices so far this year. The blue line is for detached home prices; the purple line indicates sold prices of attached homes, both condos and townhomes.