November 2016 was a record breaker for real estate sales in Crofton. That is
great news for Crofton home owners who may be thinking of listing their homes
for sale in 2017. I can't recall another Fall that was quite as busy as this one
since 2005!
Here are a few quick snapshots along with my thoughts.
Closed Sales were up 75% over the past 5 year average with 51 homes sold
in the month of November. New pending sales (under contract homes) are up as
well, but the biggest indicator of our HOT market is the months of supply.
We generally consider 3 months of supply a "healthy" market. We now have
less than 2 months of inventory. Supply and demand dictate that prices
will rise as we have more buyers vying for the same small inventory of homes.
The total volume of real estate sold in Crofton MD in November was $14,853,950.
That's up 57% over the same period last year. We are looking forward to 2017 to
see if the market continues to climb.
| Statistic | Nov | YoY | MoM |
|---|---|---|---|
| Total Sold Dollar Volume | 14,853,950 | 57.3% | 23.1% |
| Closed Sales | 51 | 75.9% | 30.8% |
| Median Sold Price | $259,900 | 17.5% | 5.5% |
| Average Sold Price | $291,254 | 10.5% | 5.9% |
| Median Days on Market | 48 days | 9.4% | 33.3% |
| Average Days on Market | 60 days | 7.7% | 33.3% |
| Median Price per Sq Foot | $187 | 4.5% | 3.6% |
| Average Price per Sq Foot | $185 | 1.7% | 8.4% |
If you have been waiting for the Spring market to hit before listing your Crofton
home for sale, you might want to reconsider. The market in Crofton is hot right
now and inventory is at an all time low.
The Roskelly Team specializes in Crofton real estate. We live, work and play
in Crofton. If you would like a complimentary market value analysis, whether
you are selling your home or just curious about your homes' value, give us
a call at 410-721-6694 or visit us on-line at www.FortMeadeHomes.com anytime.
We'd love to go to work for you
