Southern Maryland Real Estate Market
Although the current real estate market is very different from any market ever experienced, there is one aspect of real estate that holds true regardless of real estate market conditions -
Real Estate is LOCAL.
The media presents a very generalized picture of what is occurring, many times basing reporting on overall national statistics. Depending on the real estate market, national statistics may have very little or no relevance to what is occurring in a particular local market.
The Calvert County and St. Mary's County median statistics per Real Estate Business Intelligence are included here.
Calvert County Market Update
2017 Calvert County Real Estate Market Improvement - The Calvert County real estate market continues an upward trend with encouraging numbers for the first half of 2017.
The Calvert County Median YTD June 2017 is $305,000 up 10%, vs. June YTD 2016 at $277,000
Median for the month of June is $337,000, vs June median 2016, $303,450, up 11.06%
Properties are selling faster with average days on market at 85 vs. the 101 day 5 year average, and at higher percentages of original list price at 97.5%, vs. the 95.5% 5 year average.
St. Mary’s County Market Update
The June 2017 median sales price YTD for St. Mary's County is $263,000 vs. the 2016 June median of $260,000. These prices reflect improvement in St. Mary's County correlating to increased activity and continued low interest rates.
Source: SmartCharts MarketStats by Showing Time, MRIS
It is important for buyers and sellers to remember that these figures are overall statistics for Calvert and St. Mary's counties and that there are communities within those counties that are seeing marked improvement - buyers need to act on prime properties as sellers are seeing improved prices in many communities.