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Crofton Real Estate Market News

Crofton MD Real Estate Market Update
February 2012

Metropolitan Regional Information Systems (MRIS) has just released the sales statistics for February, and the news is more good  than bad for the Crofton, Maryland, real estate market.

Median and Average prices for homes sold in Crofton last month were higher, whether you look at the numbers for last month (January 2012) or last year (February 2011).  That’s good news!

Less favorable:  Sales units were down and average days on market were up when you compare year on year and month on month statistics for Crofton.

To put these figures in better perspective, I created this chart of real estate activity in the 21114 zip code for 5 years:

3-12-2012 10-22-54 PM

The most striking number for February 2012 is the 23 contingent contracts, up from 5 for three previous years and 10 in 2008. Combined with the 11 new non-contingent contracts, there were 34 new contracts altogether vs. 31 new listings.  It’s always good news for home sellers when demand for homes exceeds the supply of new listings being added to the inventory.

In fact, the number of active listings was only 60 in February, down from triple digits in February of the four previous years.  I’m thinking this will be a very hot Spring for home sellers in the Crofton real estate area, if this continues for a few months.

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