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Anne Arundel County Real Estate Sales Down in November
December 10th, 2010 Categories: Market Updates
Sales and dollar volume were both down last month in Anne Arundel County MD real estate by about 25% from November 2009.
Attached units, including condos and townhomes were down 40%, with a decline in average sold price of just under 7%. Detached units were down less – 17.75% – and their average sold price was down 3.13% from the same month last year.
Amid all this doom and gloom, we did see a couple of bright spots: The number of average days on market for these sales was down slightly, a little over 2%, and both the average and median sold prices were down only a little.
To help put last month’s “sold” statistics in perspective, here’s a further breakdown of inventory, days on market, and new construction. This information includes only those homes listed on MRIS, and not new construction sold directly by builders.
Specific information for local zipcodes will be available next week, so check back then to find out what happened in your zipcode during November 2010.
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Local Real Estate Market Comparison
November 17th, 2010 Categories: Market Updates
Anne Arundel, Howard, and Prince George’s County Real Estate
Media reports on real estate trends can be very misleading, since different parts of the country – and even different counties, zipcodes, and neighborhoods – can vary widely.
See for yourself, by looking at these reports for real estate sales in Anne Arundel County, Howard County, and Prince George’s County last month:
YoY = Compares statistics from one year to the next
MoM = Compares statistics from one month to the next
The next time someone tells you the real estate market is declining because sales or prices are down, just take it with a grain of salt. That’s like saying the weather is beautiful in America, without taking into account that it’s actually flooding in Iowa.
No doubt you enter your zipcode into the little search box when you go online to check the weather forecast, and you need to do no less when you’re looking at real estate statistics. Real estate, like the weather, is LOCAL.
The statistics you find in my posts at Focus on Crofton rely on the same criteria, month after month – i.e., units sold, based on all listings in MRIS, our regional multiple listing service. (These copyright charts are used with permission.)
Average Sold to Average List price is based on the list price at the time the property was sold, and does not take into account any previous price reductions. Chances are, this statistic is much more favorable than it would be if the sold price was measured against original sold price.
If you have any questions about your zipcode or community, please feel free to contact me.
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Focus on Crofton is my way of attracting new home buyers to the greater Crofton area, while keeping current residents informed. For more information about real estate in Maryland , please contact Margaret Woda at Long & Foster Real Estate, Inc. or simply click on a button below for information you can review online at your own pace:
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Crofton Real Estate Prices Level in October
November 12th, 2010 Categories: Market Updates
Crofton MD Real Estate – October 2010
We can breathe a sigh of relief here in Crofton MD, as we look at home prices for last month.
The median sold price in October 2010 was down only slightly (3.43%) from last year, but the average sold price was up for the same period (2.66%), according to sales statistics released by MRIS. This report takes into account all properties listed with MRIS, but does not include properties sold directly “by owner.”
Units sold remained level in October when compared to the previous month, 22 vs. 21 in September 2010. Measured against October 2009, however, the figure for units sold in Crofton is down (18.52%).
Average days on market saw the greatest difference, year on year, up 32.53% from 83 days in October 2009 to 110 in the same month this year.
What does all this mean to Crofton home owners and prospective buyers? Our real estate market is holding its own, although sales statistics in this zipcode were not quite as favorable for October 2010 as they were for Anne Arundel County overall. (Anne Arundel County Real Estate Update for October 2010)
Here is a look at these same statistics over a five year period, to help put them in perspective for you:
Real estate sales statistics can vary significantly from one zip code to the next, and even within different areas of the same zip code. If you’d like to get a sense of what’s happening in your own neighborhood, just click on the “contact” button at the top of this page, and I’ll be happy to answer your concerns.
Recent Real Estate Market Updates for Crofton MD:
September 2010, August 2010, July 2010, June 2010, May 2010, April 2010, March 2010, February 2010
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Crofton Home Prices Level Off in September 2010
October 18th, 2010 Categories: Market Updates
The median sold price of Crofton homes leveled off in September ($332,500), dropping only $2,500 from August 2010, and increasing just $7,500 from the same month in 2009. The median sold price is considered the most accurate measure of home prices, since it is the number in the middle – with an equal number of homes sold at higher and lower prices. On the other hand, “average” price can be misleading if there are one or two extremely high or low prices.
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Days on Market leveled off in September (77), as well, with only a 3.75% drop from September last year (80). However, the fall from August (89) was much greater:
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The news is not positive, when it comes to Units Sold – they were down 46% in Crofton from 2009 (39) to 2010 (21), compared to 20% county-wide. They were down from last month (27), as well.
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What do these numbers mean? Well, that’s a good question.
You can see the huge difference between Anne Arundel County real estate statistics for September 2010 and the Crofton zipcode, and it’s likely that your neighborhood will differ from other neighborhoods within this zipcode. It really does require a hyper-local comparison for you to know where you stand, in the event you’re thinking of buying or selling a home in this market.
Please feel free to contact me for this information, and be sure to ask about a free home-seller’s tool kit.
Source of Statistics: MRIS
Copyright 2010. All rights reserved.
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FocusOnCrofton.com is my way of attracting new home buyers to Bowie, Crofton, Davidsonville, Fort Meade, Gambrills, Odenton and other communities in Anne Arundel County or nearby Prince George’s/Howard Counties, Maryland. For more information, contact Margaret Woda at Long & Foster or simply click on a button below for information you can review online at your own pace.
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Anne Arundel County Real Estate – August 2010
September 15th, 2010 Categories: Market Updates
Anne Arundel County, Maryland, is located East of Washington, D.C. and Southeast of Baltimore, Maryland. It is home to Maryland’s State Capitol in Annapolis, Fort George G. Meade, BWI Thurgood Marshall International Airport, the U.S. Naval Academy, numerous small and large businesses, and about 522,000 families.
The county covers about 416,000 square miles, but it is best known for its 533 miles of waterfront along the Chesapeake Bay and its tributaries.
Real estate news in Anne Arundel County was mixed last month, with the number of sold/settled homes and dollar volume of sales down while both the average and median sold prices up countywide in August from the previous year (YoY). A comparison with the month of July (MoM), however, was less positive.
Take a look at this chart for the exact percentages of improvement or decline in six key categories, based on data from MRIS:
I’ve been tracking real estate statistics for the past six years, and have sometimes posted 3 or 5 years on the same chart. If you prefer that format, let me know, and I can send you that information privately. These details can be very helpful to you when pricing a home, whether you are the seller or buyer.
Thanks for visiting Focus On Crofton!
This post was originally published by Margaret Woda on 9/14/10 at The Maryland Real Estate Blog.
Copyright 2010. All rights reserved.
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For answers to your real estate questions about Bowie, Crofton, Davidsonville, Fort Meade, Gambrills, Odenton and other communities in Anne Arundel County or nearby Prince George’s/Howard Counties, Maryland, contact Margaret Woda at Long & Foster. If you prefer, simply click on a button below for information you can review online at your own pace.
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