January 16th, 2013 Categories: Market Updates
Median and Average Sale Price UP in Crofton
The AVERAGE home sale price in the 21114 zip code last month (December 2012) was $345,274. This is the highest we’ve seen in any December since 2006, when it was $363,155. The low point was December 2009, when the average sale price in Crofton was $308,638.
The MEDIAN home sale price was $330,000, the same as December 2006, and 26% higher than December 2011.
Both of these numbers are good news for Crofton homeowners, who wondered how long it might take for home values to get back to 2005–2006 levels.
The average “days on market” totaled 62 days for sales closed in December. This was down 11% from the previous month and a whopping 53% from December 2011. More good news for Crofton home owners!
On the flip side: It’s not unusual for home sales to fall between November and December, and this year the drop was nearly 41%. I’m actually more concerned about the 22.73% drop from December 2011… but I don’t think it’s any reason to panic, given the strong prices and relatively few days on market.
All real estate is local, of course, and that means that statistics for your immediate neighborhood may or may not have seen these same directions in December 2012. Why don’t you contact me for an update on the real estate market in your neighborhood or for your home type (detached or townhouse) throughout Crofton.
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