Fort Meade - USNA - Andrews AFB: Crofton MD - Market Report for April 2007

CROFTON MD 21114 

Yikes!  93 new listings and 31 listings sold!  Three times as many new listings as sales in the month of April in the Crofton (21114) zipcode.  Now THAT is something to be concerned about.  During my 33 years in Crofton real estate, it has never been more important for home sellers to choose an experienced real estate agent who knows how to get results in a "buyer's market".

Okay, let's be more objective now and look at the facts (comparing April 2007 with April 2006):

• Total sold dollar volume:  DOWN 16.29%
• Average sold price:  UP .12%
• Median sold price:  DOWN 5.05%
• Total units sold:  DOWN 16.39%
• Average days on market:  UP 50%

Something we didn't see much during the past few years:  Contingent contracts.  In April, we saw 21 contingent contracts, in addition to the 31 sales. 

So what is the average "sold price" in Crofton?  According to the Metropolitan Regional Information System (MRIS), it is $318,000.  This includes Crofton condos, townhomes and detached homes.

How do sale prices compare with list prices, you might ask.  Well, this is a more encouraging figure, at least according to the averages:  97.07%.  But that's not everyone - a beautiful and well-priced home in Crofton Meadows just sold at 90% of listing price.  'Guess that will impact the May statistics...

Buyers, this is a market for you to enjoy.  Get out there and take advantage of these very favorable market conditions for you.  It's the first time that real estate statistics have been in your favor in over 5 years!

MRIS releases information monthly, so please contact me directly if you would like more information about Crofton, or if you would like statistics on any other zipcode in the area.  mwoda@remax.net