The Long & Foster Market Minute

Focus On: Crofton, Crownsville, and Gambrills Housing Market October 2018

Zip Code(s): 21114, 21032 and 21054
Units Sold
53
Active Inventory
244
Median Sale Price
$349,000
Days On Market
62
Down -23%
Vs. Year Ago
Up 16%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 5%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 53 sold this month in Crofton, Crownsville, and Gambrills Real Estate versus 49 last month, an increase of 8%. This month's total units sold was lower than at this time last year, a decrease of 23% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 34 units or 16%. The total number of active inventory this October was 244 compared to 210 in October 2017. This month's total of 244 is higher than the previous month's total supply of available inventory of 242, an increase of 1%.

Median Sale Price
Last October, the median sale price for Crofton, Crownsville, and Gambrills Homes was $335,000. This October, the median sale price was $349,000, an increase of 4% or $14,000 compared to last year. The current median sold price is 2% lower than in September.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
102
Current Contracts
69
Sold Vs. List Price
98.5%
Months of Supply
4.6
Up 2%
Vs. Year Ago
Down -15%
Vs. Year Ago
No Change
Vs. Year Ago
Up 51%
Vs. Year Ago

Months of Supply
In October, there was 4.6 months of supply available in Crofton, Crownsville, and Gambrills, compared to 3.0 in October 2017. That is an increase of 51% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 102 homes newly listed for sale in Crofton, Crownsville, and Gambrills compared to 100 in October 2017, an increase of 2%. There were 69 current contracts pending sale this October compared to 81 a year ago. The number of current contracts is 15% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Crofton, Crownsville, and Gambrills was 98.5% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 62, higher than the average last year, which was 59, an increase of 5%.

The Long & Foster Market Minute Crofton, Crownsville, and Gambrills are defined as properties listed in zip code/s 21114, 21032 and 21054.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.