Crofton, MD

Each month, between the 10th and 15th, I carefully review statistics published by our regional multiple listing service, MRIS. I usually fnd the numbers mirror anecdotal information shared by local real estate professionals, but I dutifully review them for the purpose of sharing accurate information with you through my blog.

In October, I was very surprised to see a spike in the average sold price, up almost 20% from October 2007, and the median sold price, up 18.16%.

Most homes which settled in October probably went under contract prior to that, so these numbers don't reflect all that occurred in the financial world in October.

The number of homes that settled in October was down over 60% from 42 in 2007 to 16 in 2008.

After the banking crisis and bailout in October, only 9 homes went under contract during the month, so look for "units sold" to go down in November and December.

Days on Market were actually down from last month, but up nearly 15% from the same month last year. Overall, in 2008, Days on Market have been greater than last year, except for January.

As I've mentioned in earlier Real Estate Updates, one of the things I look to for an indicator on what the future holds for real estate in Crofton is the absorption rate. With only 16 sold homes and 147 active listings in October, it looks like it would take almost 10 months for the existing inventory to be absorbed - and that's assuming no new listings for 10 months, which isn't going to happen.

The true effect of the banking crisis and the October economic bust, in general, will probably take a while to shake out. Be sure to check back between the 10th and 15th of each month for an update. And, if you prefer to see more statistics laid out in a single chart, visit FocusOnCrofton.com this weekend, when I'll be posting an update in that format.

CROFTON HOMES FOR SALE GAMBRILLS HOMES FOR SALE ODENTON HOMES FOR SALE

Source of data: MRIS
Charts: Margaret Woda

Linthicum Walks, tucked out of sight next to Crofton Middle School, provides a unique glimpse into Crofton area history since the 17^th century, when the original land grant was made to Evan Davis in 1672 and obtained by Thomas Linthicum in 1699. Arundel County was primarily an agricultural area and tobacco was the cash crop in the early days of this historic home, and some farming continued on the property until it was acquired by Anne Arundel County in 1977.

You may have noticed the small sign identifying the driveway for Linthicum Walks on Davidsonville Road, but you can't see the house from there. Special events are occasionally held at the house, but it's not open to the public. If you have any interest in local history, the Crofton Holiday House Tour may be your best opportunity for getting a peek inside.

Linthicum Walks will be decorated for the Holiday House Tour by Crofton Village Garden Club members, and refreshments will be served there throughout the tour. You can come and go at any time during the tour hours and visit participating homes in any order. Tickets are $15, but you can purchase them now for $12 by contacting me at 301-346-2923 or mwoda@msn.com. 80% of the limited tickets are aleady sold!

Other homes on the tour: 1631 Eton Way, 1614 Earlham Avenue, 1597 Eton Way, 1569 Eton Way, 1727 Tipton Drive, and 7515 Crofton Colony Drive.

PHOTO: Mwoda

For your own private tour of CROFTON HOMES FOR SALE click on the link to see everything on the market in Crofton, and let me know which homes you would like to see.