October 14th, 2013 Categories: Market Updates
Crofton Real Estate Sales UP (and down) in September 2013
Crofton real estate news in September was good, when compared to September 2012 – at least in some categories we track monthly. Month to month statistics were not quite so positive, however, in the face of rising interest rates in July and August when contracts were written for most of the sales that closed in September.
- Units sold: 22 – Up 22% over 18 last year, but down 50% from the 44 of August 2013.
- Days on market: 48 – Down over 27% from 66 last year, but up 60% from 30 in August 2013.
- Average % of sold vs. list price: 97.66% – Improved slightly over last year (96.2%) and last month (96.6%).
Crofton home prices reflected the declining consumer confidence in September. Fortunately, prices remained fairly stagnant and didn’t show a huge decline. In fact, the average sold price was up 8% to $351,241 over September 2012, while dropping nearly 5% from August 2013. The median sold price of $322,75o was down, but less than 2% from last year and less than 3% from August 2013.
As you can see from this chart, the market was still better last month than 3 of the past 5 years. Let’s hope for better news next month because I’d hate to see this become a trend. It was kinda fun to see things get back to “normal” for Crofton real estate.
Home Sellers: Given last month’s sales statistics, it’s a good idea for you to be conservative in pricing if you want to move and get settled into your new home before Thanksiving. If consumer confidence continues to decline and interest rates keep going up, your odds may not be favorable for getting today’s pricein another month or two.
Home Buyers: It’s your lucky day because the housing inventory is up, thanks to increasing listings and decreasing sales. Interest rates have stalled, so that’s more good news if you’ve been thinking of firing your landlord.
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