Crofton MD Real Estate - November 2009 Home Sale Statistics

November was an explosive month for Crofton, MD real estate sales. Don’t be fooled by the over the top sales though, there is good reason to believe that the 1st time home buyer tax credit caused the blip in sales.

The Crofton MD real estate market is pretty stable and mature. Whenever you see an increase in sales of 166% comparing the current month to the same month the previous year, you have to question why. That type of increase is very unusual, for any market.

Yes, when looking at the November 2009 statistics for home sales in Crofton MD, we see that 40 units sold. November of last year only 15 units sold, showing an increase of 166%.

Why the tremendous increase? You have to remember that the original 1st time home buyer $8,000 tax credit was set to expire…..November 30th. The government stepped in late in the game and extended that deadline into 2010. When they did that the pressure was off, but, many 1st time home buyers already had offers in, with settlement dates before November 30th.

Since the vast majority of sales were below $350,000, most real estate professionals believe that it was the 1st time homebuyers, who were looking to close before November 30th, that fueled the 166% increase. We don’t expect to see that type of increase in December.

Crofton MD still has a great inventory of wonderful homes to choose from. If you’re looking to purchase or sell a home in Crofton MD, or the surrounding area, I can help.