The Long & Foster Market Minute

Focus On: Crofton, Crownsville, and Gambrills Housing Market March 2019

Zip Code(s): 21114, 21032 and 21054
Units Sold
63
Active Inventory
200
Median Sale Price
$332,500
Days On Market
77
Up 3%
Vs. Year Ago
Up 9%
Vs. Year Ago
Down -9%
Vs. Year Ago
Up 13%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 63 sold this month in Crofton, Crownsville, and Gambrills Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 16 units or 9%. The total number of active inventory this March was 200 compared to 184 in March 2018. This month's total of 200 is lower than the previous month's total supply of available inventory of 204, a decrease of 2%.

Median Sale Price
Last March, the median sale price for Crofton, Crownsville, and Gambrills Homes was $365,000. This March, the median sale price was $332,500, a decrease of 9% or $32,500 compared to last year. The current median sold price is 5% lower than in February.

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


New Listings
126
Current Contracts
101
Sold Vs. List Price
98.5%
Months of Supply
3.2
Down -8%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -1.1%
Vs. Year Ago
Up 5%
Vs. Year Ago

Months of Supply
In March, there was 3.2 months of supply available in Crofton, Crownsville, and Gambrills, compared to 3.0 in March 2018. That is an increase of 5% 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 126 homes newly listed for sale in Crofton, Crownsville, and Gambrills compared to 137 in March 2018, a decrease of 8%. There were 101 current contracts pending sale this March compared to 91 a year ago. The number of current contracts is 11% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Crofton, Crownsville, and Gambrills was 98.5% of the average list price, which is 1.1% lower than at this time last year.

Days on Market
This month, the average number of days on market was 77, higher than the average last year, which was 68, an increase of 13%.

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.