The Long & Foster Market Minute

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

Zip Code(s): 21114, 21032 and 21054
Units Sold
98
Active Inventory
240
Median Sale Price
$351,500
Days On Market
37
Up 18%
Vs. Year Ago
Down -4%
Vs. Year Ago
Down -4%
Vs. Year Ago
Down -23%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 98 sold this month in Crofton, Crownsville, and Gambrills Real Estate versus 88 last month, an increase of 11%. This month's total units sold was higher than at this time last year, an increase of 18% versus August 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 11 units or 4%. The total number of active inventory this August was 240 compared to 251 in August 2018. This month's total of 240 is lower than the previous month's total supply of available inventory of 264, a decrease of 9%.

Median Sale Price
Last August, the median sale price for Crofton, Crownsville, and Gambrills Homes was $365,000. This August, the median sale price was $351,500, a decrease of 4% or $13,500 compared to last year. The current median sold price is 10% lower than in July.

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


New Listings
113
Current Contracts
93
Sold Vs. List Price
98.8%
Months of Supply
2.4
Up 31%
Vs. Year Ago
Up 55%
Vs. Year Ago
No Change
Vs. Year Ago
Down -19%
Vs. Year Ago

Months of Supply
In August, there was 2.4 months of supply available in Crofton, Crownsville, and Gambrills, compared to 3.0 in August 2018. That is a decrease of 19% 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 113 homes newly listed for sale in Crofton, Crownsville, and Gambrills compared to 86 in August 2018, an increase of 31%. There were 93 current contracts pending sale this August compared to 60 a year ago. The number of current contracts is 55% higher than last August.

Sale Price to List Price Ratio
In August, 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 37, lower than the average last year, which was 48, a decrease of 23%.

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.