The Long & Foster Market Minute

Focus On: Crofton, Crownsville, and Gambrills Housing Market May 2020

Zip Code(s): 21114, 21032 and 21054
Units Sold
76
Active Inventory
100
Median Sale Price
$422,500
Days On Market
16
Down -22%
Vs. Year Ago
Down -61%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -63%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 76 sold this month in Crofton, Crownsville, and Gambrills Real Estate versus 64 last month, an increase of 19%. This month's total units sold was lower than at this time last year, a decrease of 22% versus May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 158 units or 61%. The total number of active inventory this May was 100 compared to 258 in May 2019. This month's total of 100 is lower than the previous month's total supply of available inventory of 132, a decrease of 24%.

Median Sale Price
Last May, the median sale price for Crofton, Crownsville, and Gambrills Homes was $391,250. This May, the median sale price was $422,500, an increase of 8% or $31,250 compared to last year. The current median sold price is 6% lower than in April.

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


New Listings
77
Current Contracts
96
Sold Vs. List Price
99.3%
Months of Supply
1.3
Down -47%
Vs. Year Ago
Down -8%
Vs. Year Ago
No Change
Vs. Year Ago
Down -50%
Vs. Year Ago

Months of Supply
In May, there was 1.3 months of supply available in Crofton, Crownsville, and Gambrills, compared to 2.6 in May 2019. That is a decrease of 50% 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 77 homes newly listed for sale in Crofton, Crownsville, and Gambrills compared to 146 in May 2019, a decrease of 47%. There were 96 current contracts pending sale this May compared to 104 a year ago. The number of current contracts is 8% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Crofton, Crownsville, and Gambrills was 99.3% 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 16, lower than the average last year, which was 43, a decrease of 63%.

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.