Year-over-year housing figures for Gambrills, Md., show that the number of homes sold in the area last month remained on par with the number of homes sold in November 2013. However, the median price of those homes dropped 18 percent from last year.
Moreover, the homes sold in Gambrills last month stayed on the market much longer than the year before.
According to data prepared by RealEstate Business Intelligence, the average price of detached single family homes sold in Gambrills in November dropped 16 percent from last year. The average price of attached homes, which include townhomes, condominiums and duplexes, dipped 29 percent.
The number of homes actively for sale in Gambrills in November (67) was roughly the same as the prior year (62). However, homes sold last month took 58 percent longer to sell than last year. The average “Days on Market” was 106 days in November 2014, up from 67 days in November 2013.
Overall, 14 homes sold in Gambrills in November 2014, compared to 13 over the same period last year. Ten of the homes sold last month were detached properties and four were attached homes.
Jerry Kline is a Realtor with the Odenton, Md., office of Keller Williams Flagship Realty (1216 Annapolis Rd., Odenton.) For more information on the local real estate market, contact him at (443) 924-7418 or JerryKline@kw.com, or visit his blog (www.JerryKlineRealtor.wordpress.com) or website (www.JerryKline.kwrealty.com).