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Crofton Market Study, September 2007

Real Estate Update

 

A review of Crofton real estate sales in September provides us with some good news and bad news. 

Let’s start with the bad news, so we can end on an “up” note.

 

21114.UnitsSold

 

 

 

 

 

 

 

 

 

 

Looking at a six month study of homes sold in Crofton, we see the number declining steadily since June to a low of thirty-one in September, over 40%  below the number of homes sold during September 2006.  In September of last year, we actually saw upward movement and felt encouraged heading into the fall.

Besides looking at the number of sold homes in September, here are two other statistics:  There were fifty three new listings and only twenty-three new non-contingent contracts in Crofton.  Based on all this information, I project we are in for a long winter, with a constantly growing inventory keeping a lid on home prices.

21114 DOM

 

 

 

 

 

 

 

 

 

 

Looking at average days on market, we don’t find much better news with the increase from 45 days in August to 66 days in September.  However, that is a 13.1% improvement over September 2006, so I guess that’s not all good or all bad. 

Now for the good news:

21114 ASP

 

 

 

 

 

 

 

 

 

 

The average sold price in Crofton is UP for the third month in a row, to $381,000.  This is a 13.5% increase over September 2006.

The best news, of course, is that some homes are still selling in Crofton, and our numbers are much more favorable than those for Anne Arundel County overall.  If you want or need to sell your home, the “key” is pricing (and an experienced agent, of course).

Data Source:  Metropolitan Regional Information Systems, Inc. (MRIS)
Charts and Analysis:  Margaret Woda, Crofton, MD 

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