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Real Estate Update for Gambrills and Davidsonville

Margaret’s Monday Morning Real Estate Update – July 2011Crystal ball flipped
Gambrills, Maryland and Davidsonville, Maryland

There are relatively few transactions each month in Gambrills and Davidsonville, two communities adjacent to Crofton, Maryland.  It’s very difficult, if not impossible, to draw any conclusions from such a small sampling of sales. Unfortunately, the statistics don’t help to enhance the clarity of my crystal ball regarding any market trends.

Yet sales did take place and I’m sure you’d like to see those statistics if you live in one of these areas or if you’re considering a home purchase in one of them.  So…. here goes:

21054 - 8-23-2011

Davidsonville - 8.23.10

It never ceases to amaze me how different the ups and downs are from one zipcode to the next, or even the same zipcode compared from one month to the next.

My regular blog readers know that I frequently turn to one set of numbers for a general indication of where the market is headed:  Closed sales vs. new listings.  When we consistently see more sales than listings for several months, my crystal ball will be much more clear.  That’s because reduced inventory will impact the most basic rule:  supply and demand.  When supply is down, prices will stabilize and eventually increase.

Gambrills:  75 active listings including 22 new listings.  Only 13 homes closed in July, and 13 went under contract. 

The good news: Average and median sold prices are up, both Year on Year and Month on Month.

Davidsonville:  There were 47 active listings in July, including 7 new ones;  5 homes closed, and 1 went under contract.

The good news: Average days on market for closed sales went down, both Year on Year and Month on Month.

If you live in a townhome and wish you could afford a single family… if you’ve outgrown your current home and wish you could move to something larger… don’t assume it’s not possible.  This may be perfect timing for you to make that change.

The interest rates and listing prices are both low, and the inventory of homes is high.  If that isn’t the ideal situation for any home buyer, I don’t know what is.

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