Crofton Real Estate News By Alex Estill: Summer Summary

Good Afternoon Everyone!

I wanted to get the first informative post of the blog up on the same day we launched! I want to give everyone in Crofton a summary of how the summer has been for residential real estate in our fine town!

First of all, don't listen to the national real estate forecasts.  They have little to no impact on our area here in Maryland.  We are very lucky to be in an area where real estate is usually not as impacted by negative National financial shortcomings and reports.  The presence of the government in Washington DC bleeds out into Montgomery, PG, Anne Arundel, and Baltimore counties as evident in the enormous amount of government contractors in the area.  Also, the Fort Meade/NSA presence in Annapolis Junction is HUGE for Crofton real estate.  Their might be quite a bit of supply in the housing market, but there is definitely almost as much demand.  The following stats should prove exactly that!

Without further delay our Summer in review (as of August 29, 2011)!  Since June 1st, 2011 (90 days) their have been 86 homes sold in Crofton.  Obviously that's about 1 a day.  Those 86 homes have sold for a total of, get this...$27,245,310!!  The smallest sale was $100,000 and the largest $590,000.  The average sales price in this span was $316,806.  That is not bad considering the average starting list price was $326,462.  Sellers had to come off their asking price a little, but they were able to to get it sold!

Those numbers are even more impressive considering July and August are two of the worst months for sales in the industry.  The stock markets definitely spooked some potential sellers from listing here in August, but it looks as though we will finish with a descent August.  So far this month in 29 days, 16 homes have sold for a total of $5,123,500.  Not stellar, but not bad either!  Fall and spring are great times to buy and sell real estate so if you are on the fence about selling/buying and have questions feel free to email me at alex@abr-i.com or call me at 443-370-7283.  As a Crofton resident and Realtor, I can most certainly help answer your questions and discuss your best course of action!

Until next time!

Alex Estill