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No Sugar-Coating Crofton Recent Real Estate News

CROFTON MD REAL ESTATE UPDATE, November 2010

Crofton MD Real Estate sales in November were down 65% from November 2009, with only 14 homes selling in the 21114 zipcode this year compared to 40 in the same month last year.  Some people think you can always make statistics say anything, but I don’t believe there’s any way to sugarcoat this and interpret it as good news for our local real estate market. 

Yet, 14 Crofton homeowners DID sell their properties and move on with their lives, while 14 other families became new Crofton homeowners.  For those people 28 households, that IS good news!

Average and median sold prices were down, too, but not so drastically.

21114 - 12.10

The median sold price was “only” down by 3.7% from 2009 to 2010.  The average sold price was down 5.26%.  On the other hand, the average days on market were up significantly from last year, 36.05% –  from 86 to 117.

The best advice I can give anyone who may be thinking of selling in the next few months, or even years, is to put your property on the market now.  While the real market is disappointing, it could be the best we’ll see for a while.  If anyone tells you differently, they’re sugar-coating the facts.

Home buyers, YOU are the winners in this situation because there’s never been a better time to buy.  Your options are many, because of the large inventory of homes for sale in Crofton, and rates are near historic lows.  What are you waiting for?!?

 

* Compare the Crofton real estate market for November 2010 with the Anne Arundel County real estate market, as a whole.

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