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Year to Date Crofton Home Prices Better Than 2009

What’s my home worth?  That’s the question every Crofton homeowner wants to ask… but they’re not sure they want to know the answer. 

The only way to answer that question, of course, is to have an appraisal or market value analysis that takes into account the features, size, and condition of the property as well as the real estate market.  

 

CROFTON (21114) REAL ESTATE MARKET
Year to Date thru June 2010
 

Home Sales in Crofton MD were up last month, as expected, due to a June 30 deadline for the tax credit.  But the real estate market in Crofton has seen its share of ups and downs this year, that’s for sure:

21114-Units YTD

 

When it comes to Crofton home prices, they have consistently run higher in 2010 than they did in 2009, every month except April.

21114-ASP YTD

The Average Sold Price of Crofton homes is determined by taking the total dollar volume and dividing it by the number of sold properties. 

Median Sold Price is the number at which there are an equal number priced higher and priced lower. 

21114-MSP YTD

Most analysts feel that “median” is a more accurate measure of real estate prices and, therefore, it is the number usually reported.

 

How long do Crofton homes stay on the market?  Well, the trend is less consistent on this.  The good news is that it took less time to sell a home every month of 2010 than it did in 2009.  That should make home sellers happy.

21114-DOM YTD

 

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Looking at June alone, in comparison with June 2009, here are the sales statistics reported by MRIS:

And one more number everyone wants to know:  Average Sold Price as a percentage of Average List Price:  96.05%  In other words, if you list your home for $100,000, it’s likely the sale price will be $96,500 –  but this figure does NOT take into account any seller concessions such as paying closing costs or making repairs for the buyer.

While June real estate sales are up in Crofton, and that’s good news, it will be interesting to see what happens in July without the tax credit as a stimulus.

Stay tuned…

In the meantime, if you’d like to know what your home is worth, just click on the “My Home Value” button below.

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Focus on Crofton is my way of attracting relocating home buyers to Bowie, Crofton, Davidsonville, Fort Meade, Gambrills, Odenton and other communities in Anne Arundel County, Maryland, while keeping current homeowners informed about the community and local real estate market.  For more information, contact Margaret Woda at Long & Foster Real Estate, Inc. or simply click on a button below for information you can review online:

 Homes in Crofton MarylandHome Values in Crofton MarylandRelocating to Maryland

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