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Gambrills Real Estate Update – April 2011

Margaret’s Monday Morning Market Update
April 2011:  Gambrills, MD (21054)

Average and median home prices increased in Gambrills last month (April 2011), compared to the previous month (March 2011); but the number of closed sales was down to 5 in the entire zipcode. 

I have trouble comparing any 2011 real estate statistics with those in 2010, in Gambrills or anywhere, because last year’s numbers don’t truly reflect market conditions.  There’s no way of knowing the true impact of the tax credit for first-time home buyers…  maybe in another year or two when we can see it in the perspective of a five year trend.  Keep that in mind, as you view Year on Year statistics in this chart.  I’m more inclined to focus on the Month on Month statistics:

Gambrills 4.11

What do these numbers mean to you?

With such a small sampling of sold homes, it’s hard to draw any conclusions regarding real estate trends in Gambrills.  Additionally, Gambrills communities vary widely in price range and one custom-built upscale home can throw off price calculations significantly.

Two items that aren’t directly affected by price are the number of closed sales, down over 60% from last month and 50% from last year, and days on market, up 15% from last month and 74% from last year.

Whether you’re considering a home purchase or sale in this area, you should consider statistics beyond Gambrills (to Crofton, Odenton, Davidsonville) and limit them to similar communities.  You’ll also want to view specifics of recent home sales, comparing yours (or one you buy) to others of similar size, features, condition, and age. 

Submit a request online or call me at (301)346–2923 for this information.

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