Bowie, Crofton, Crownsville, Davidsonville, Gambrills and Odenton, Maryland real estate sales don't always match what you see in the media.
"REAL ESTATE SALES DOWN 27%" read the headlines and led the TV news reports earlier this week.
Was anyone surprised that closings in July were down, since home buyers were bribed into closing in June with an $8,000 tax credit? Anyone who planned to buy a home this summer (maybe even this year) had big incentive to advance their timetable and buy a home in time to close before June 30. OF COURSE, home sales were down in July - at least on a global level!
Frankly, I'm surprised the drop in sales wasn't even greater. But 27% was the percentage for home closings nationwide and we've all heard repeatedly that "real estate is local"...
Let's look at units sold in the greater Crofton area during July 2010, keeping in mind that real estate sales were down 27% nationally:
Bowie (20715): 25
Down 8.7% from July 2009; Down 24% from June 2010
Crofton (21114): 25
Down 24% from July 2009; Down 17% from June 2010
Crownsville (21032): 10
Up 25% from July 2009; Down 86% from June 2010
Davidsonville (21035): 1
Down 83.3% from July 2009; Down 75% from June 2010
Gambrills (21054): 13
Up 333% from July 2009; Nearly doubled from 7 in June 2010
Odenton (21114): 32
Up 23% from Juy 2009; Down only 6% from June 2010
SOURCE: MRIS. All information is deemed reliable, but not guaranteed.
As you can see, there are huge differences even between adjacent zipcodes. This chart confirms once again that "all real estate is local." Those national statistics released by NAR and sensationalized by the media really have little, if anything, to do with real estate in our own local communities.
If you want to know what's happening in local real estate - i.e., Bowie, Crofton, Crownsville, Davidsonville, Gambrills, or Odenton - give me a call or click on the link below. I'll be glad to localize the numbers even more - to your own immediate neighborhood.
This information was provided to you by Margaret Woda, an Associate Broker with Long & Foster Real Estate in Crofton Maryland. Contact Margaret today for general real estate information or to learn how she can help you buy or sell a home in Annapolis, Bowie, Crofton, Davidsonville, Gambrills, and Odenton.
Crofton real estate