January 15th, 2014 Categories: Market Updates
Crofton Real Estate Update
This report is based on closed sales in the 21114 zip code during December 2013
Is this a good time to list my Crofton home?
The answer to this question can be found in the housing inventory. There were only 68 homes available for sale in Crofton in December, compared to 75 in November and 79 in October. As the inventory drops, competition usually heats up for available listings, so I would say this is an excellent time to put your home on the market.
Here is some additional information that may give you a peak into the future…
The number of closings in Crofton was up from November 2013, and consistent with December 2012.
The average days on market were up from both November 2013 and December 2012.
The average and median prices were down from both November and December 2012. This is not to say that the value of any one house went down, only that more lower priced homes sold than higher priced ones – many of these were bank-owned and short sales, which throw off the “real” numbers. We can’t ignore them, however, because they are the competition.
When we look at the full year for 2013 in Crofton compared to 2012,the number of closings and home prices were up and the days on market down almost 50%.
So what does all this mean to you and your prospects of selling if you put your home on the market in the next few weeks or months? That’s the questieon of the day!
The answer isn’t “simple” because there are so many potential factors beyond our control – the economy, politics (from local to International and everywhere in between), and even the weather – but… barring any major changes from something beyond our control – I think we’re in for a better market in the next few months than we’ve seen during the spring season in any of the past three years. That’s good news for you if you’re thinking about selling your property.
Want more details? Give me a call at (410) 451-6245.
Visit my website at MargaretWoda.com for more real estate information.