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Odenton Sales Up in July

MARC StationThe Odenton real estate market showed a 46% increase in units sold last month, over July 2011, with 38 closings.  That’s the highest number for any July over the past five years, although that number is down slightly from 41 in June.

In more good news, the inventory of homes for sale in Odenton is down to the lowest point for July over those same five years –  to 107, compared to 185 last year and more than 200 the previous three years.  As the supply of homes for sale shrinks, conventional wisdom suggests prices will show improvement and days on market will go down.

In fact, the days on market in Odenton decreased over 10% to 91 in July 2012 from 102 in the same month last year, but it’s still slightly higher than the three previous years.  I expect the days on market to continue dropping, unless we have a flurry of new listings in Odenton during the next few months.

The average and median sold prices did not show any improvement, but I caution you to understand that does NOT mean the value of your property went down last month.  The 5% decline in average sold price and 12% decline in median sold price, comparing this July with July 2011, is based on the homes which sold…  more homes selling in the lower end will pull down these numbers.  It’s my observation that values are holding their own, and the shrinking inventory will help maintain them for Odenton home owners.

Fort Meade continues to have a transient population, and related businesses also continue to attract new hires.  If there’s a sound real estate market anywhere in Maryland, it has to be in the 21113 zipcode with so many affordable homes. 

Affordable Homes Near Fort Meade:

Seven Oaks
Piney Orchard

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


The Crofton MD real estate market showed improvement in nearly every category last month, when we look at a 5–year comparison of sales statistics:

Crofton Real Estate Market July 2012

There’s no denying that Crofton home prices trended down from July 2008 to 2011, but we did see a turnaround in July 2012 with a 10% increase in the average price over 2011 and a 12% improvement in the median sold price in 2012 over 2011.

Based on this glowing market report, Crofton residents have good reason to feel very optimistic about the real estate market! 

For more specific information – about your own neighborhood or type of home (detached or townhome) – contact me any time. No obligation, of course.

Posted by Margaret Woda | Discussion: Comments Off on CROFTON REAL ESTATE MARKET GLOWS IN JULY

Crofton Home Prices Up in June

The conference rooms at Long & Foster in Crofton are busy with buyers throughout the day.  I see that as one indicator that the market is alive and well in the greater Crofton area.

The number of homes sold/closed last month (33) is fairly consistent with last year, down just slightly (from 34).

New contracts, including contingent contracts was 37, down from 40 in 2011. 

However, these figures represent a larger share of the inventory than in 2011 because the there were “only” 78 active listings, down 32.76% from 116 in June 2011. 

The average and median sold prices were up from May 2012 and from June 2011.  On the surface this seems like great news, but it  probably indicates that a few more higher-priced homes sold.  No one can look at the 20% increase in median sold price and assume that means the value of their home went up by 20%.  That’s wishful thinking!

For a market analysis on your home, or to view real estate statistics that are specific to your immediate neighborhood or type of home, just contact me.  I’m here to help.

In the meantime, here’s a chart to help you visualize what’s been happening with Crofton home prices so far this year.  The blue line is for detached home prices; the purple line indicates sold prices of attached homes, both condos and townhomes.

7-17-2012 4-24-04 PM

Posted by Margaret Woda | Discussion: Comments Off on Crofton Home Prices Up in June

Crofton Real Estate Market – May 2012

The Crofton real estate market showed improving trends in some key areas last month, most notably the number of homes that sold and settled.  Closed sales were up over 12% from last year, and higher than any May over a five year period. 

New listings were down to the lowest figure for any May in five years, which is a good indicator that supply and demand may be headed towards some kind of balance.  Days on Market were down over 23% from the same month last year, back to 2008 levels.

21114 - 2012.05

Unfortunately, the average and median sold prices didn’t show an upward-bound trend, but that number includes ALL homes; detached home prices showed a marked improvement over last year.

Home sellers –  In my opinion, you can be more optimistic about a likely home sale now than in recent years.  If your home is priced well and in good condition, chances are it will sell in about 3 months, at a price 93–95% below list price. For an estimate of your home’s likely sale price, contact me.

Home buyers –  Would you like to know what’s for sale at the median price in Crofton?  There’s a 3 bedroom, 2.5 bath townhome with basement for sale on Sharwood Place in the Crofton Square neighborhod of Crofton Meadows at $279,000.  You just missed a home in Crofton Commons and another in Lake Louise that were priced about the same.  The lowest price detached home inside the Crofton triangle is a rancher on Urby Drive, at $365,000.  To view the details of this and other homes currently for sale in Crofton, click on Crofton Homes for Sale.


Posted by Margaret Woda | Discussion: Comments Off on Crofton Real Estate Market – May 2012

Crofton Real Estate Market Update – April 2012

I’m happy to report that the Crofton MD real estate market showed several signs of improvement last month  My office is hopping busy, with every one of our many conference rooms often occupied by potential buyers and their agents.  Statistics prove that many of them purchased a home in April 2012.

21114 - 2012.04

Price:  The median sale price in Crofton last month was the highest we’ve seen in any April over a five-year span, and the average sale price was the highest over a four-year span. 

Balance:  While new listings still outnumber new contracts and new solds, the ratio is more favorable to home sellers than any April in this 5–year chart. 

Days on Market:  Days on market have steadily dropped since 2008.  Only 2010 was lower, when the federal home buyer credit was in place (requiring buyers to be under contract by April 30 to qualify).

What does this mean to you?

Home Sellers –  These and other real estate statistics suggest there hasn’t been a better time to sell in years.  If you’ve been waiting to downsize or make a move up from your crowded townhome to a detached home, now is the time!

Home Buyers –  You may have missed the bottom of the market, because we seem to be on the upswing.  Yes, there’s a chance things will turn around, but I wouldn’t risk waiting –  especially since interest rates are the lowest I’ve seen in my forty-year career.

There have been many months during recent years when I’ve struggled to find one positive statistic to report.  This month, it was easy.  Let’s hope it stays that way!

If you’d like more specific information about real estate trends in your own Crofton neighborhood, or you’d like to see a breakdown of “just” townhomes or “just” detached homes, please contact me.

To see how Crofton compares with the county as a whole, click on Long & Foster Market Minute for April 2012.

Posted by Margaret Woda | Discussion: Comments Off on Crofton Real Estate Market Update – April 2012

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