The real estate market in Calvert County, Charles County, and St. Mary’s County, (Southern Maryland), is bustling with activity, offering opportunities for both buyers and sellers. Here’s a detailed look at the key statistics and trends from the last 30 days, providing you with the insights you need to make informed decisions. Sign up today to receive a monthly report
Median Prices on the Rise
- Sold Homes: The median price of homes sold in the last 30 days is $450,000.
- New Listings: Newly listed homes have a median price of $428,200.
- Active Listings: Currently, active listings show a median price of $410,240.
These figures indicate a competitive market, with homes often selling for slightly more than their listing prices. This trend underscores the strong demand and desirability of properties in the region.
Strong Sale-to-List Price Ratio
The sale-to-list price ratio is a crucial indicator of market competitiveness. In Southern Maryland, homes are selling at 104% of their listing prices. This means that, on average, buyers are paying above the asking price, reflecting the high demand and limited inventory.
Days on Market
- Median Days on Site: The median number of days a property stays on the market is 51 days.
This statistic suggests that while the market is active, buyers still have some time to make decisions without feeling overly rushed. However, desirable properties can move quickly, so staying informed and ready to act is essential.
Inventory Insights
- Sold: 195 homes sold in the last 30 days.
- New Listings: 238 new homes were listed.
- Active Listings: There are currently 585 active listings.
The inventory data shows a healthy turnover with a consistent influx of new listings, giving buyers a variety of options to choose from. Sellers benefit from the steady demand, which helps maintain strong sale prices.
Trends Over the Last Six Months
Median Prices
- The median price for sold homes has shown a steady increase from February through July, reflecting the robust demand and limited supply in the market.
Sale-to-List Price Ratio
- The sale-to-list price ratio has consistently been above 100% over the past six months, highlighting the competitive nature of the market.
Days on Market
- The median days on site have fluctuated but remained within a range that indicates a balanced market. Properties are selling in a reasonable timeframe, offering both buyers and sellers the opportunity to achieve their goals.
Listing Inventory
- The number of active and sold listings has shown seasonal variations, with peaks and troughs that align with typical real estate cycles. However, the overall trend points towards a dynamic and resilient market.
Recent Notable Sales
- 8635 Keech Road, Charlotte Hall: Sold for $682,000 (List Price: $695,000)
- 16905 Tidewater Lane, Hughesville: Sold for $1,140,000 (List Price: $1,135,000)
- 7600 Chapel Point Road, Port Tobacco: Sold for $1,100,000 (List Price: $1,200,000)
These sales exemplify the diversity of the market, with homes ranging from mid-range family residences to luxurious estates. Each sale reflects the unique value and appeal of properties in Southern Maryland.
Bottom Line
Southern Maryland’s real estate market is vibrant and competitive, offering numerous opportunities for both buyers and sellers. Whether you’re looking to buy your dream home or sell your property at a favorable price, understanding these market trends is crucial. Stay informed, stay prepared, and make the most of the dynamic Southern Maryland real estate market.
For more detailed insights and personalized advice, feel free to contact me, Kenneth Powell, at 240.237.7855. Let’s navigate this market together to achieve your real estate goals.