Has the Crofton Maryland real estate market stabilized? That's a question many people are asking these days, and there is no simple answer. There are so many factors to consider, and here are a few of them tracked over a number of years:
If you prefer colorful graphs, I have some of those, too. Here's one illustrating how many homes sold in the 21114 zipcode vs. how many active listings there were in recent months:
There were 46 new listings in Crofton during August, compared to 13 new non-contingent contracts. Ideally, the two numbers would be about the same, because these figures indicate that the housing inventory is growing - and that's not what home owners want to see. (Economics 101: Supply and Demand) It is good for home buyers, but many of them are still sitting on the fence.
For more information about the local real estate market, including specifics about your neighborhood (as opposed to your zipcode), CONTACT ME any time.
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DISCLAIMER: Information contained in this post is deemed reliable on the date of publication, but it is not guaranteed and it is subject to change without notice.
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Margaret Woda, REALTOR and Associate Broker
Direct: (301)346-2923 or click on EMAIL
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Long & Foster Real Estate, Inc., 2191 Defense Hwy., Crofton, MD 21114 (410) 721-1500
Great information Margaret, you're right though so much to consider when asking this question of any local market. The builders here in So. CAL have actually opened up their sales offices and have begun building. Good news for job seekers here.
Margaret ~ We continue to see some positive indicator in various markets, but we still have a ways to go given what we are reading in the news.
Margaret I came over to follow you on Twitter and saw your market report. Nice, succinct and well done. I have GOT to start posting these for my neighborhoods too!
Margaret: You do such a nice job with colorful charts. The North Georgia market is considered stable after being classified as declining for a number of months. We saw a nice increase in buyer activity this summer.
Good to see the average sales price climbing usually that is an indicator of some price appreciation.
Hi Margaret--EXCELLENT market report and I just love your graphs! I hope to see that 200 number repeated in September of this year (or preferrably higher)! I think our market has a bit of turning around to do yet but, we are on the upswing and hope to keep it going in that direction.
Have a wonderful Wednesday...
Debe - Thank you! It takes some time to put these together, but I think it's a lot more informative to track these numbers over a period of time than just comparing this year and last.
Terry - I hope so!
Donna - That's very good news, and I hope it's an indicator of things to come.
Russell - Consumers like them, so yes... you should!
Joan - There seems to be some good news each month that helps balance out the bad.
Jane - That IS good news when the builders are thinking positive.
Once again you demonstrate how to be the local real estate expert. Nice work!