Crofton real estate the 2008 sales statistics - A season in review
Posted Dec 7, 2008 @ 12:38 pm, Viewed by 374 Visitors, Read 386 Times.The Crofton real estate market has been a very popular choice in Anne Arundel county for many years. Once an isolated little community "in the middle of nowhere", Crofton has grown to offer not just a great family environment, but top of the line rated schools, great shopping and dining.
Of the cities that we reviewed including Crofton, Odenton, Piney Orchard, Severn and Gambrills for 2008 real estate statistics, Crofton had the greatest variances throughout, but ended up in October with some pretty good statistics.
In June of 2008, the start of the "busy" season for real estate the total number of homes sold for the month was down almost 34% as compared to 2008 but the average sales price was a pretty remarkable $394,000 which was a 0% variance from 2007. Great news for Crofton! But as the home buying season progressed we started to see some much larger disparity in the numbers as the inventory of homes for sale far exceeded the demand of home buyers looking to purchase in Crofton. We really hugged values staying right with the 2007 numbers as far as the statistics go, but what were seeing in reality is that higher priced homes were selling a bit more but WELL under their 2007 values. So that kind of skewed the numbers to look a bit better than they really were. A once $650,000 house may now close at $550,000 or less. October has been the most disappointing month with a 62% decline in the number of homes sold. That's going to back our inventory up substantially and we'll likely see some further decline in pricing before we start the upward climb again.
Short sales and foreclosure homes are becoming much more prevalent in Crofton as well and that's helping to push our pricing downward.
If you are thinking of buying selling or renting a home in Crofton contact The Roskelly Team for the very best in service for all of your Crofton real estate needs. We live work and play in Crofton and we can help you make it your home as well.
| ctober 2008 | |||||
| Crofton Real Estate sales statistics | |||||
| 2008 | 2007 | % Change | New listings | 46 | |
| Total Sold Dollar Volume: | $6,271,700 | $13,750,800 | -54.39% | Under contract | 12 |
| Average Sold Price: | $391,981 | $327,400 | 19.73% | ||
| Median Sold Price: | $355,000 | $300,450 | 18.16% | ||
| Total Units Sold: | 16 | 42 | -61.90% | ||
| Average Days on Market: | 79 | 69 | 14.49% | ||
| Average List Price for Solds: | $412,113 | $346,445 | 18.95% | ||
| Sales price as a % of list price | 95.11% | 94.50% | |||
| September 2008 | |||||
| Crofton Real Estate sales statistics | |||||
| 2008 | 2007 | % Change | New listings | 38 | |
| Total Sold Dollar Volume: | $10,567,800 | $11,830,599 | -10.67% | Under contract | 32 |
| Average Sold Price: | $340,897 | $381,632 | -10.67% | ||
| Median Sold Price: | $320,000 | $330,000 | -3.03% | ||
| Total Units Sold: | 31 | 31 | 0.00% | ||
| Average Days on Market: | 94 | 66 | 42.42% | ||
| Average List Price for Solds: | $360,958 | $398,371 | -9.39% | ||
| Sales price as a % of list price | 94.44% | 95.80% | |||
| August 2008 | |||||
| Crofton Real Estate sales statistics | |||||
| 2008 | 2007 | % Change | New listings | 43 | |
| Total Sold Dollar Volume: | $16,591,700 | $16,346,250 | 1.50% | Under contract | 31 |
| Average Sold Price: | $345,660 | $363,250 | -4.84% | ||
| Median Sold Price: | $297,700 | $322,500 | -7.69% | ||
| Total Units Sold: | 48 | 45 | 6.67% | ||
| Average Days on Market: | 85 | 66 | 28.79% | ||
| Average List Price for Solds: | $367,389 | $375,492 | -2.16% | ||
| Sales price as a % of list price | 94.09% | 96.74% | |||
| July 2008 | |||||
| Crofton Real Estate sales statistics | |||||
| 2008 | 2007 | % Change | New listings | 45 | |
| Total Sold Dollar Volume: | $12,400,200 | $20,494,450 | -39.49% | Under contract | 43 |
| Average Sold Price: | $364,712 | $379,527 | -3.90% | ||
| Median Sold Price: | $342,450 | $332,000 | 3.15% | ||
| Total Units Sold: | 34 | 54 | -37.04% | ||
| Average Days on Market: | 122 | 80 | 52.50% | ||
| Average List Price for Solds: | $396,629 | $393,194 | 0.87% | ||
| Sales price as a % of list price | 91.95% | 96.52% | |||
| June 2008 | |||||
| Crofton Real Estate sales statistics | |||||
| 2008 | 2007 | % Change | New listings | 45 | |
| Total Sold Dollar Volume: | $15,366,200 | $23,153,650 | -33.63% | Under contract | 37 |
| Average Sold Price: | $394,005 | $392,435 | 0.40% | ||
| Median Sold Price: | $385,000 | $354,900 | 8.48% | ||
| Total Units Sold: | 39 | 59 | -33.90% | ||
| Average Days on Market: | 104 | 65 | 60.00% | ||
| Average List Price for Solds: | $420,309 | $403,868 | 4.07% | ||
| Sales price as a % of list price | 93.74% | 97.17% | |||
Jessica Ballas, Realtor
The Roskelly Team
RE/MAX Leading Edge
1360 Main Chapel Way
Gambrills, MD 21054
E-Mail: TheRoskellyTeam2@aol.com
On-line: www.TheRoskellyTeam.com
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