The Long & Foster Market Minute

Focus On: Crofton, Crownsville, and Gambrills Housing Market October 2022

Zip Code(s): 21114, 21032 and 21054
Units Sold
43
Active Inventory
48
Median Sale Price
$415,000
Days On Market
17
Down
Vs. Year Ago
Down -38%
Vs. Year Ago
No Change
Vs. Year Ago
Down -15%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 43 sold this month in Crofton, Crownsville, and Gambrills Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 30 units or 38%. The total number of active inventory this October was 48 compared to 78 in October 2021. This month's total of 48 is lower than the previous month's total supply of available inventory of 60, a decrease of 20%.

Median Sale Price
Last October, the median sale price for Crofton, Crownsville, and Gambrills Homes was $415,000. This October, the median sale price was $415,000, which is similar compared to a year ago. The current median sold price is 7% higher 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
37
Current Contracts
39
Sold Vs. List Price
101.4%
Months of Supply
1.1
Down -56%
Vs. Year Ago
Down -51%
Vs. Year Ago
Up 1.9%
Vs. Year Ago
Up 22%
Vs. Year Ago

Months of Supply
In October, there was 1.1 months of supply available in Crofton, Crownsville, and Gambrills, compared to 0.9 in October 2021. That is an increase of 22% 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 37 homes newly listed for sale in Crofton, Crownsville, and Gambrills compared to 85 in October 2021, a decrease of 56%. There were 39 current contracts pending sale this October compared to 80 a year ago. The number of current contracts is 51% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Crofton, Crownsville, and Gambrills was 101.4% of the average list price, which is 1.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 17, lower than the average last year, which was 20, a decrease of 15%.

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.