Tri-County 2017 4th Quarter Report

Prices Climb in the Fourth Quarter in Calvert County

Home prices climbed appreciatively during the fourth quarter in Calvert County according to the Southern Maryland Association of REALTORS® (SMAR). Average and median prices grew by 9.8 and 6.8 percent respectively as compared to the same time in 2016. Despite a drop of 0.8 percent in October, overall there was a modest gain of 1.3 percent in home sales. “Notwithstanding the small rise in home sales, we were encouraged by the growth in both average and median prices in the fourth quarter,” said SMAR President Kathy Suite.

Monthly housing statistics for Calvert County are compiled by data as reported by MRIS. For the purposes of this report, “units” are defined as the closed sales and “pending units” are properties under contract. Months of inventory are based on the current active inventory and monthly sales for the corresponding month.

Calvert County is part of the Southern Maryland Association of REALTORS®, which is an affiliate of the Maryland REALTORS® and National Association of REALTORS®. We are proud to serve our members and our community and work to ensure professionalism in the industry. Our volunteers and staff work to offer services to real estate professionals and to provide avenues for our members to become more successful. We proudly work to promote and protect home ownership and private property rights.

Charles County 4thQtr2017 Market Stats

Fourth Quarter Market Remains Stable in Charles County

Charles County homes prices rose steadily during the fourth quarter according to the Southern Maryland Association of REALTORS® (SMAR). Average and median prices grew by 5.1 and 3.8 percent respectively as compared to the same time in 2016. Due to a sharp drop of 15 percent, overall homes sales stood at an increase of 1.5 percent. In October and December, homes sales had increased by 4.9 and 19.14 percent.

“Despite the decrease in home sales in December, the pace for the fourth quarter is steady in Charles County,” said SMAR President Kathy Suite. “Average and median prices rose at healthy rates and pending units or home under contract but not settled, also saw a jump in December," she added. Suite went on to note, “we are on track for a successful 2018.”

Monthly housing statistics for Charles County are compiled by data as reported by MRIS. For the purposes of this report, “units” are defined as the closed sales and “pending units” are properties under contract. Months of inventory are based on the current active inventory and monthly sales for the corresponding month.

Charles County is part of the Southern Maryland Association of REALTORS®, which is an affiliate of the Maryland REALTORS® and National Association of REALTORS®. We are proud to serve our members and our community and work to ensure professionalism in the industry. Our volunteers and staff work to offer services to real estate professionals and to provide avenues for our members to become more successful. We proudly work to promote and protect home ownership and private property rights.

St Mary's 4th Qtr 2017 Market Stats

Home Sales on the Rise in the Fourth Quarter in St. Mary's County

Despite the dip in homes sales in December, the residential market was active during the fourth quarter in St. Mary’s County according to the Southern Maryland Association of REALTORS® (SMAR). With increases of 7.7 and 11.3 percent in October and November, the average rate of growth in home sales was 4.2 percent for the fourth quarter. Average and median prices grew by 2.5 and 1.4 percent respectively as compared to the same time in 2016.

“With the exception of the decrease in December, we are pleased with the level of activity in home sales in the fourth quarter,” said SMAR President Kathy Suite. “Price appreciation was modest mostly because if decreases in December in both average and median prices,“ she added. Suite went on to note, “pending units or homes that are under contract but not settled are also up 5.9 percent.”

Monthly housing statistics for St. Mary's County are compiled by data as reported by MRIS. For the purposes of this report, “units” are defined as the closed sales and “pending units” are properties under contract. Months of inventory are based on the current active inventory and monthly sales for the corresponding month.

St. Mary's County is part of the Southern Maryland Association of REALTORS®, which is an affiliate of the Maryland REALTORS® and National Association of REALTORS®. We are proud to serve our members and our community and work to ensure professionalism in the industry. Our volunteers and staff work to offer services to real estate professionals and to provide avenues for our members to become more successful. We proudly work to promote and protect home ownership and private property rights.