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Crofton Area Real Estate Update – June 2009

Market Falling

 

One word – DOWN – describes the real estate market in Crofton, Davidsonville, Gambrills, and Odenton Maryland during June 2009 compared to June 2008.

 

 

CROFTON: 

Cartoon Market StatsDAVIDSONVILLE:

GAMBRILLS: 

ODENTON: 

The only positive number in all this is the # of homes sold in Odenton during June.  In fact, I wrote an offer for a Piney Orchard townhome that had FOUR offers the same day.

 

Crystal ball 000002902730My crystal ball is very clear about the near future of local real estate. There’s nothing magical or mysterious about these predictions, however, because they’re based on a simple math calculation to determine the absorption rate.

Simply divide the total number of listings by the month’s sales.  You’ll find the numbers on the blackboard in the above image

Of course, new listings will come on the market, and some of the current listings will sell, expire or withdraw…  Looking at the absorption rate is an interesting exercise, but certainly not scientific.  I guess the point of all this is that it’s never been more important to have an experienced agent representing you in the sale of your home… one who knows how to get homes sold in this market.

For more information, including data that is specific to your own neighborhood, you can contact me by phone or text at 301–346–2923.

SOURCE:  Statistics published by MRIS

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