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Crofton Home Sale Report – September 2012

MRIS has released real estate sales statistics for September, and the numbers for Crofton are somewhat mixed. Generally speaking, they indicate that the market has improved over September 2011, but didn’t live up to the terrific numbers we saw in August 2012.

Eighteen homes closed during September in Crofton MD (21114), up almost 6%% from from September 2011 but down significantly from the 37 sales we had last month.

21054.08 SnapshotMedian and average home prices enjoyed a turnaround and went up -to $328,950 and $325,288 respectively.  That’s an increase of 22% over last year and 18% over last month for the median sold price, while there was a 9% increase in the average sold price over last year, and 6% over the previous month in Crofton.

Average days on market for closed home sales (66) were down 63% from September 2011, but they increased 35% from August. 

As I mentioned at the beginning of this post, September 2012 was a good month for Crofton real estate, compared to recent years, but it’s a bit of a roller coaster from month to month this year.

Home Sellers:  This advice is timeless… Location, list price, and property condition are the three primary factors influencing home sales. It’s more important than ever to make sure your home is uncluttered, clean, updated, and in good repair before you put it on the market. I highly recommend professional staging and photographs, as well, to showcase your home at its best online and in print media. If you’re unwilling or unable to get your home into “top” condition for selling, don’t expect to get top dollar. 

Home Buyers:  What will happen to interest rates after the election?  It’s anyone’s guess. For now, Crofton remains affordable for home buyers with today’s low 3.25% interest rate. Low down payment loan programs are available (95% Conventional loans and 96.5% FHA loans, not to mention zero-down VA loans) and many sellers will provide closing help. Prices seem to be declining in the 21054 zip code, so this really is a GREAT time to buy a Crofton home.

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Next week: Real estate sales statistics for Bowie (20715)

  

Posted by Margaret Woda | Discussion: Comments Off on Crofton Home Sale Report – September 2012

Sales Up in Gambrills – August 2012

Thirteen homes closed in Gambrills (21054) during August 2012, up 85% from from August 2011.  (That’s no typo… it really does say 85%.)  Sales were up over the previous month, too – more than 8%. 

21054.08 SnapshotMedian and average home prices ($308,900 / $350,888) were down, however, when measured against August of last year and against July 2012.  However, I’m optimistic that home prices will hold their own in the coming months due to a shrinking inventory of homes on the market and the demand of buyers relocating to the area due to BRAC 2005.

Average days on market for closed sales (116) were up only slightly (2%) from August last year but more than 75% from July 2012. Again –  no typo, that 75% is correct. This statistic is very disappointing for home sellers.

To put all this information into perspective, take a look at the snapshot of Gambrills real estate activity in August this year compared to recent years.  No arguing with the numbers… the real estate market was more active in August 2012 than we have seen in a long time.

Home Sellers:  Location, list price, and property condition are the three primary factors influencing home sales. It’s more important than ever to make sure your home is uncluttered, clean, updated, and in good repair before you put it on the market. I highly recommend professional staging and photographs, as well, to showcase your home at its best online and in print media. If you’re unwilling or unable to get your home into “top” condition for selling, don’t expect to get top dollar. 

Home Buyers: Gambrills is still affordable for first-time home buyers with today’s low 3.25% interest rate. Low down payment loan programs are available (95% Conventional loans and 96.5% FHA loans, not to mention zero-down VA loans) and many sellers will provide closing help. Prices seem to be declining in the 21054 zip code, so this really is a GREAT time to buy a Gambrills home.

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Posted by Margaret Woda | Discussion: Comments Off on Sales Up in Gambrills – August 2012

Sales Down in Bowie – August 2012

Twenty-one homes closed in the 20715 zipcode of Bowie during August 2012, down over 22% from August 2011. In fact, sales were down 25% from last month.  Disappointing sales numbers, but new contracts were up, as you can see from the August snapshot of real estate activity in Bowie.

20715.08 SnapshotMedian and average home prices ($240,000 / $236,776) were stable, when measured against August of last year, but up about 2% from July of this year. I think we can expect Bowie home prices to hold their own in the coming months due to a shrinking inventory of homes for sale.

Average days on market for closed sales (61) were down significantly (46%) from last year and nearly 12% from the July 2012. This is a ray of sunshine for home sellers in the 20715 zipcode.

To put all this information into perspective, take a look at the snapshot of Bowie real estate activity in August this year compared to recent years.  No arguing with the numbers… the real estate market is more active than we’ve seen in a long time, in spite of lower closed sales

Home Sellers:  Location, list price, and property condition are the three primary factors influencing home sales. It’s more important than ever to make sure your home is uncluttered, clean, updated, and in good repair before you put it on the market. I highly recommend professional staging and photographs, as well, to showcase your home at its best online and in print media. If you’re unwilling or unable to get your home into “top” condition for selling, don’t expect to get top dollar. 

Home Buyers: Bowie is still affordable for first-time home buyers with today’s low 3.25% interest rate. Low down payment loan programs are available (95% Conventional loans and 96.5% FHA loans, not to mention zero-down VA loans) and many sellers will provide closing help. Prices are not escalating yet, so this really is a GREAT time to buy a Bowie home.

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Posted by Margaret Woda | Discussion: Comments Off on Sales Down in Bowie – August 2012

Crofton Home Sales Up – August 2012

Thirty-seven Crofton homes closed in August 2012, up over 76% from August 2011. In fact, sales were up 32% over last month. I can’t speak for all of these transactions, but my home buyers last month were relocating to the area as part of BRAC 2005 for duty at Fort Meade. I believe that BRAC continues to be a positive influence on the real estate market throughout the Fort Meade area, including Crofton.

21114.08 SnapshotAverage days on market for closed sales (49) was down significantly from last year – almost 32% – and up only slightly from the previous month. This certainly relieves the stress-factor for Crofton home sellers.

Median and average home prices ($279,000 / $307,158) were both down from last month and last year.  However, I think we can expect Crofton home prices to hold their own in the coming months due to a shrinking inventory of homes for sale.

To put all this information into perspective, take a look at this snapshot of real estate activity in August this year compared to recent years.  No arguing with the numbers… the Crofton real estate market is more active than we’ve seen in a long time.

Home Sellers:  Location, list price, and property condition are the three primary factors influencing home sales. It’s more important than ever to make sure your home is uncluttered, clean, and in good repair before you put it on the market. I highly recommend professional staging and photographs, as well, to showcase your home at its best online and in print media. Be sure to ask your listing agent if these services are included in the commission or if these are optional, at additional cost.

Home Buyers: Crofton is still affordable for first-time home buyers with today’s low 3.25% interest rate. Low down payment loan programs are available (95% Conventional loans and 96.5% FHA loans, not to mention zero-down VA loans) and many sellers will provide closing help. Prices are not escalating yet, so this really is a GREAT time to buy a Crofton home.

Button Find my Next Home      Button - Sell my home

Posted by Margaret Woda | Discussion: Comments Off on Crofton Home Sales Up – August 2012

Bowie Home Sales Up in July

July home sales in the 20715 zip code of Bowie hit a new high for 2012. That’s only one fewer than closed sales during July 2011, the best July since 2007 for home sales in this zip code.

Bowie Home Sales Jan-July 2012

Other numbers for home sellers and buyers to watch:

Sold Price:  Prices for closed sales are holding steady from last year at $234,950 median sold price (+3.27%) and $232,232 average sold price (-.37%).  This includes all homes in the 20715 zip code, including foreclosures and short sales reported by MRIS. 

Days on Market:  Homes that sold in July were on the market 69 days – down almost 24% from the same month last year. That was 83% higher than June 2012, however. 

Active Listings:  The best news of the month for Bowie home sellers is this:  The inventory of homes for sale in July (57) was half the size it was a year ago (119). With fewer options, some sellers are getting top dollar for their homes and buyers are finding themselves in bidding wars for the well-priced homes in good condition. 

It’s interesting to analyze the real estate market in Bowie because there are four zipcodes and trends sometimes differ from one Bowie zip code to the next. If you’re interested in finding out what’s happening in another zipcode or in your own immediate neighborhood, please contact me.  A Market Trends Analysis is one of the reports I’ll share with you when we discuss the likely sale price of your home.

Check out the Long & Foster Market Minute for last month in Prince Georges County, Maryland.

Click on Bowie Homes for Sale to view all homes currently on the market. You can modify the search to limit the price range, type of home, and even search by address.

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Posted by Margaret Woda | Discussion: Comments Off on Bowie Home Sales Up in July

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