The Long & Foster Market Minute

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

Zip Code(s): 21114, 21032 and 21054
Units Sold
80
Active Inventory
210
Median Sale Price
$364,000
Days On Market
23
Down -9%
Vs. Year Ago
Up 9%
Vs. Year Ago
Down -3%
Vs. Year Ago
Down -44%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 80 sold this month in Crofton, Crownsville, and Gambrills Real Estate versus 83 last month, a decrease of 4%. This month's total units sold was lower than at this time last year, a decrease of 9% versus May 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 18 units or 9%. The total number of active inventory this May was 210 compared to 192 in May 2017. This month's total of 210 is higher than the previous month's total supply of available inventory of 200, an increase of 5%.

Median Sale Price
Last May, the median sale price for Crofton, Crownsville, and Gambrills Homes was $374,000. This May, the median sale price was $364,000, a decrease of 3% or $10,000 compared to last year. The current median sold price is 5% 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
120
Current Contracts
83
Sold Vs. List Price
98.8%
Months of Supply
2.6
Up 6%
Vs. Year Ago
Down -30%
Vs. Year Ago
No Change
Vs. Year Ago
Up 21%
Vs. Year Ago

Months of Supply
In May, there was 2.6 months of supply available in Crofton, Crownsville, and Gambrills, compared to 2.2 in May 2017. That is an increase of 20% 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 120 homes newly listed for sale in Crofton, Crownsville, and Gambrills compared to 113 in May 2017, an increase of 6%. There were 83 current contracts pending sale this May compared to 118 a year ago. The number of current contracts is 30% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Crofton, Crownsville, and Gambrills was 98.8% 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 23, lower than the average last year, which was 41, a decrease of 44%.

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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.