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Odenton, Gambrills, and Davidsonville Real Estate News

Real Estate UpdateCrofton MD real estate sales were up 160% in January 2010 (13) compared to January 2009 (5), but what about the Greater Crofton Area? 

Units Sold:

Odenton – 16, down 20% from 20 sold in January 2009
Gambrills – 1, down 50% from 2
Davidsonville – 5, up 15% from 2

Crofton real estate statistics improved in virtually every category last month.  How did nearby communities compare? 

Days on Market:

Odenton – 144, up 22% from 118 in January 2009
Gambrills – 219, up 133% from $394,375
Davidsonville – 126, up 9.57% from 115 
Crofton – 86, down 47.56% from 164

Average Sold Price:

Odenton – $322,005, relatively stable with only a 2.33% drop from $329,690 in January 2009
Gambrills – $285,000, down nearly 28% from $394,375 
Davidsonville – $759,400, up 8.74% from $699,000 
Crofton – $15,552, up 17.57% from $268,400

Median Sold Price:

Odenton – $281,000, down 7.18% from $302,745 in January 2009
Gambrills – $285,000, down nearly 28% 
Davidsonville – $749,000, up 7.15% from $699,000
Crofton – 290,000, up 16% from $250,000

With only one sale in Gambrills (21054) during the month of January, there’s really not enough information to draw any conclusion(s) except that the absorption rate in Gambrills is over 4 years, with just one of the 51 homes on the market selling each month – and that assumes no new listings come on the market during that period, which is unlikely.  Let’s hope this is an anomaly, and that real estate picks up in Gambrills during the spring months.

The Greater Crofton Area, as a whole, just didn’t do as well as Crofton (21114) in January.  I think we should keep that champagne on ice and hold off any celebration until the entire community has similar positive news to report.

P7310062Home buyers, what do these numbers mean to you?

If I were a betting woman, I would bet you can get a better “deal” on a home outside the 21114 zipcode, because Crofton homesellers will be feeling a little cocky after such a great month. 

I recommend you check out the detached homes for sale in Four Seasons Estates to get the best bang for the buck in this area. 

Home sellers, what do these numbers mean to you?

It’s still a “buyer’s market”, even in the 21114 zipcode.  Homebuyers are still in the driver’s seat when it comes to demanding their price, terms and condition because the home inventory is very high. 

A sub-text that isn’t evident in these statistics is the impact of the temporary tax credit for both first-time and move-up home buyers; once the April 30 deadline passes, it’s likely we’ll see a negative turn in the real estate market.

If you want to sell your home any time soon, you must be aggressive in your pricing, terms, and marketing for the next 75 days.

 

While it’s good for you to be familiar with real estate statistics in your zipcode, it’s better for you to know the ones for your own neighborhood.  If you’re thinking of selling or buying a home, contact me or details about specific neighborhoods or types of homes (detached, condos, townhomes).

RELATED LINK:  Crofton Real Estate Sales Up 160% in January 2010

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FocusOnCrofton.com is your one-stop source for information about Crofton, Maryland, and the surrounding area.  It’s my way of keeping current residents informed about their community while also attracting relocating home buyers to the Crofton area (including Bowie, Crownsville, Davidsonville, Fort Meade, Gambrills, Millersville and Odenton).  Please feel free to contact me any time for more information.

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