Crofton Real Estate: Fewer Sellers Taking a Loss on Sale of Home

During the past three months, less than a quarter of home sellers in Edgewater took a loss (21 percent), according to the real estate website Zillow.com. This figure is a slight reduction from the three-month period that ended in Jan 2011, which was a high-water mark of 35 percent of homeowners taking a loss on real estate as an investment.

The rate is slightly lower than the trend for the Baltimore Metro area (25 percent), and the state (also 25 percent).

In Anne Arundel County, Arnold had the lowest percentage of homes that sold for a loss at 8 percent, while Gambrills had the highest percentage (34 percent) of homes selling for a loss in the period June to August.

Just five years ago, 96 percent of homeowners earned a profit on a home sale in the county, making Anne Arundel real estate a practically risk-free investment.

That all changed around April of 2008, when the number of homes selling for a profit began to drop. That number hit a low in April of 2011 (70 percent), and has only recently started to climb.

Here are the stats:

Percent of
homes selling
for a loss:

Percent of
homes selling
for a loss:

Median
Sale
Price:

Maryland

25

27

$262,000

Baltimore Metro

25

28

$262,000

Annapolis

26

23

$381,900

Arnold

8

16

$319,200

Crofton

32

36

$361,700

Edgewater

21

28

$303,500

Glen Burnie

17

20

$219,300

Pasadena

24

23

$257,500

Severna Park

19

19

$462,900