HUGHESVILLE, Md. – It is no secret that finding a home in Southern Maryland these days has likely been a struggle. Historically low housing inventory in the region persists, but fortunately, we may be seeing some early signs of the impending spring market as new listings rose last month.
More houses are selling right now and at higher prices. The total number of units that sold over the last month in Southern Maryland is up 3.92% from the same time last year, which comes out to 17 more sales.
Of those sales, the region saw increases to both the median and average sold prices, up 15.94% and 12.4%, respectively. This contributed to a 15.95% increase to the total sale volume for the month, up over $191 million overall.
One notable stat we saw change was the slight increase in how long homes are staying on the market. While most homes that sold last month had been on the market for less than 10 days, the average days on the market across Southern Maryland increased by six days from the same time last year.
Home sellers are still selling their homes on average for more money than they are originally listing for.
Like many other places, Southern Maryland has been plagued recently with little to no inventory. While roughly six months of inventory is considered a “healthy market,” our region has been hovering around 0.5 months available.
Active listings are down 15.75% from the same time last year, from 381 to 321.
However, we may be seeing some early signs of the spring market as more listings came up. Year-over-year metrics calculated with the most recently available market data showed an 11.62% increase to new listings in February.
“While our real estate market has seen relatively consistent and steady sales indeterminant of the time of year, Spring generally heralds relocations of our military families. All signs indicate a continued, strong market, despite impending mortgage rate increases,” SMAR President Gregg Kantak said. “Additionally, mortgage payments are now lower on average than the ever-increasing rents throughout our region.”
Housing market statistics from each county in the Southern Maryland region can be found below:
Units Sold: 99 (-1.98%)
Total Sales Volume: $43,897,348 (+12.37%)
Average Days On The Market: 24 (+3 Days from February 2021)
Median Sold Price: $398,000 (+13.71%)
Units Sold: 235 (+15.20%)
Total Sales Volume: $101,766,310 (+31.11%)
Average Days On The Market: 20 (+8 Days from February 2021)
Median Sold Price: $430,000 (+16.63%)
St. Mary’s County
Units Sold: 117 (-9.30%)
Total Sales Volume: $45,664,967 (-5.50%)
Average Days On The Market: 34 (+7 Days from February 2021)
Median Sold Price: $360,000 (+14.29%)
Visit https://www.southernmarylandrealtors.org/pages/housing-statistics/ every month for additional details about the housing market in Southern Maryland. A video breakdown of the local statistics can be found on the SMAR YouTube page at: https://www.youtube.com/watch?v=664Q8gDmIJg
Statistics for this article were compiled with cooperation from Bright MLS, a leading housing market data source and a real estate listing service for Realtors® throughout the region.
I wonder if No Clue, in any of his childish screen names, is going to claim again that there are “thousands” of homes for sale in Southern MD!! According to the people who know such things and produce the report above, there are 321 homes for sale in Calvert, Charles and St Marys’ combined.
There are tons of homes for sale dumb dumb, open your eyes, look online
There are no “affordable “ homes in Southern Maryland
I do real estate on the side dumb dumb
No Clue, read the article which states: “Active listings are down 15.75% from the same time last year, from 381 to 321”.
Don’t need to dumb dumb, read my comment
Oh that’s right, you can’t read
You really gotta work on nicknames, no clue doesn’t rhyme with anything, you’re really bad at this, just like everything else
I read your comment, moron. That’s what I replied to. Funny how you say I can’t read.
I don’t know where they pull these “statistics “ from but they are totally false!
I do real estate investment on the side, there are tons are homes for sale, the problem and the only problem is that the average/median person cannot afford them, nor can they afford the sky high rent prices
If they’re going off of real estate websites or apps for listings that’s why they’re not seeing a big inventory
There’s a large amount of homes that don’t get listed on them for sale, all’s anyone has to do is go outside and look around at all the for sale signs in front yards
As for the quick turn around in sales? I don’t believe that one bit unless it’s homes under $275,000
I’ve seen homes for sale for over 3 years and still haven’t sold yet, I’ve had property for sale for over 5 years and haven’t gotten the first offer on it
The number one problem here is the sky high prices, rent costs and low paying jobs PERIOD
In your little rambling you confuse the number of homes for sale with the number of homes that sold, you confuse home prices with home affordability (that alone shows you are not a “real estate investor”), you confuse the state of the entire SOMD housing market with 2 properties you claim to have knowledge of.
Troll that knows nothing
Not a real estate investor? I own 4 rental properties, 7 vacant lots and one permanent home
You own a cardboard box, in ghetto mills
Nice try kiddo
I confuse home prices with home affordability???? You are obviously even dumber than I thought
If you spend $400,000 plus thousand on a home, how do you expect to rent that out? You can’t, oh no here’s some big numbers you don’t understand because it’s larger than 1+1
I invested in homes all under $200,000 to rent them out to make something called income every month, another term you don’t understand
All my rental homes I rent out for $2000 and under a month
At $400,000 you would have to rent that home out for over $4000 a month, literally nobody is gonna spend that much a month on rent
Again there are tons of homes available, however, the average worker CANNOT afford them
I don’t care what “stats” you pull from lala land I speak facts, the truth and nothing else
Homes that sell in a matter of weeks are all under $275,000 I’ll even go to $300000
I helped sell my neighbors home in CRE for $305,000 it sold in 2 weeks, the waterfront property has been for sale for 3 years and hasn’t budged
My vacant lots haven’t budged, not because of price but because it’s so difficult to work with Maryland to even build anything on them
Anything else you want to attempt to come at me with? Didn’t think so
So now you confuse home ownership with rents. Christ make up your mind about what you are talking about. The payment on a 30 year $400k mortgage at 4.55% is $2k per month. That certainly does not require a rent of $4k to make a profit. A $400k home with 20% down at 4.55% interest is $1600 per month. Well within the capability of the average worker. Just ask any mortgage professional. You see what makes a home affordable is the monthly payment, not the asking price. Anyone with actual knowledge of real estate would understand this. It does not surprise me that you fail to understand.
Thank you for clearing up that you cannot do 1st grade math
Using the sales stats from the article (the one above you didn’t bother to read): Avg sales price in Calvert $444k; Charles $433k, St Mary’s $390k. Average time on the market between the 3 counties is under 30 days. All these facts refute your opinions.
So you are a “real estate investor” who bought properties he can’t sell? Sounds like you suck at a real estate investor.
Have I “come at you with enough” or do you want more?
Oh and you may be the only person who doesn’t understand where SMAR gets its stats.
They probably get their “stats” from you
Naturally you offer no facts to support your opinion.
Not a opinion, as usual you’re clueless
You tell me why homes are currently selling 25 percent above appraisal
I’ll wait for this one
That question is on you as the article clearly states there is insufficient supply to meet demand. By definition, this puts upwards pressure on prices. You claim there is an oversupply and insufficient demand. If your scenario were true, prices would be stagnant or going down. So you need to explain how prices are going up based on your opinion that there is an oversupply and a lack of demand.
I need a laugh…so here’s one more question for No Clue. Why are home prices going up?
Never mind, you’re making me dumber everyday
Yeah…that’s what I thought. When it comes right down to it, you have nothing to back up what you say.
I’m not gonna keep repeating facts just because you can’t read and don’t understand anything, it’s a waste of my time
My last comment
Home prices in this area are so expensive because of inflation, homes didn’t sell during the scamdemic so now the prices are through the roof along with everything else, example would be the cost of building materials
Another example is I sold a rental property last fall in CRE (Chesapeake ranch estate) it appraised for $213,000, that’s all
I sold that home for $269,000
Why? Because people are doing the same thing back in 2004-2010 when the housing market crashed, people were buying homes well above appraisal only to end wayyyy upside down on them, that’s when I bought the 4 rental homes.
I’m gonna unload all the homes as leases run out before the economy tanks again which is right around the corner then it will become a buyers market
Maryland’s income DOES NOT support the extremely high cost of living in this state, if I did not have rental properties I wouldn’t be able to live here period, it’s just too expensive
As for your “math” on a $400,000 home, you are wayyyyyy wrong as usual
Interest rates are still in the 3% range, even with 20% down you ARE looking at close to a $4000 monthly mortgage, the finance payment may be $2000 however you are not including mortgage insurance, nor escrow which will send it soring
Yes banks require you to have mortgage insurance because of what happened 15 years ago when the economy tanked, another thing you have zero comprehension of
Now that I’ve totally wasted my time trying to explain this to a 5 year old that cannot read, I’m moving on to the next article
#1: So you don’t understand that higher prices and inflation are the same thing. I asked you the cause of the higher prices aka “inflation”. How can you call other people dumb when you fail to understand definitions?
#2: I knew you would come back with a stupid point about the escrow. First off, if you use a 3% mortgage rate, the monthly mortgage is lower than I quoted at 4% with 20% down ($1350 vs $2000). You make my point for me. But you are not smart enough to know that. Insurance on a $400k house is about $1500 per year. Property taxes in Southern Maryland are less than 1%…but lets say 1%…so $4000. On the high end those two add up to $5500. That is less than $500 per month. So the total monthly payment PITI is less that $2000. Sorry you fail again.
$1500 for property taxes!!!!!!! You definitely don’t live here!!!!!
All of the CRE properties I own are over $2000 a year!!!!
Get out of here with your bs I’m done with you
Good lord..PLEASE learn how to read!!! $1500 was the insurance. $4000 was for property insurance.
The dynamics of the housing market today are COMPLETELY different than the dynamics of the housing market in 2006. Given how little you have shown you understand, it does not surprise me that you are completely clueless on this topic as well. Time for you to run and hide in another thread now.
I have taken the liberty in reporting both of you clowns to the baynet, you two ruin every single article on here, you both act like a bunch of 4 year olds
Both of you need to be removed from the site, hopefully baynet will do that
No one forces you to read the comments, Karen.
And nobody is forcing you two to act like a bunch of little kids
Look who is talking. Get over yourself.
Have you two read any of your comments? Kindergartners don’t bicker back and forth that much
But he’s my best friend
“Have you two read any of your comments? Kindergartners don’t bicker back and forth that much” Why is that any concern of yours? Don’t like it…don’t read it. BTW…you might actually read what I am saying as I have actual points to make. If you are fine believing everything some internet troll says, that is your prerogative. I choose to call these people out. BTW…it is odd that you are annoyed by this string of posts and not the slew of posters who end every post with “FJB”. Your precious little feelings don’t seem offended by that.
Yep you two have made my point, I also took a screen shot of this garbage and sent that in as well
Like I said, nobody cares about the facts , we’re all tired of you two turds destroying every single article with your childish ranting
Thank you for making my point so directly, Karen. You have made 4 posts in this thread. Not once did you say “nobody cares about facts”. So your comment “Like I said, nobody cares about the facts” is a false statement. And I do not comment on “every single article”. So that comment is also a false statement. Like I said before “Get over yourself” and “if you don’t like the comments, don’t read them.”
Thanks for the comment, I’ll share that with the moderators as well
Care to keep going?
You two have 35 comments of nothing but bickering back and forth, yet I’m Karen? Lol
You are the one who is crying about something that has nothing to do with her and has no impact on you what so ever. There is nothing in those 35 posts about you that YOU didn’t initiate. So yeah…you are Karen. And I’ll say it again: no one forces you to read the comments and if you don’t like them don’t read them. It’s not rocket science.
Hahahahaha literally everyone hates you
You can’t help but read them, you two clowns flood every article with nonsense bickering
Both of you get off this site and get a life, bottom line
You’re both ignorant asf
Have you clicked on the articles?? Obviously not, literally every single one has a comment “dumb dog is a troll “
I’d rather be Karen then two little kens bickering back and forth non stop
I see the story is changing again. What is it with you people? So just to refute your latest whiny rant: One. you CAN not read our comments. It is really easy, just scroll past them. Two: Every article is not flooded with nonsense bickering. You may not care about facts but I do. Three: Maybe you should get off the site and get a life? You are the one who is crying and whining. Four: “ignorant asf”?? maybe you should report yourself? 5. Yes. I click on lots of articles as they interest me. You are almost right. The quote is “big dog eats first is a troll”. If you would pay attention, you will notice that I don’t respond to most of them as those are just No Clue playing the part of a troll trying to get a response. 6. Glad you admit the term “Karen” fits you. Are we done with this now or do you want to continue bickering like a kindergartner??
And if you want to keep on with me I’d be more than happy to meet you somewhere because unlike you I’m not gonna act like a kid behind a keyboard bickering back and forth
What a hypocrite you are, Karen. You whine and cry about posts that have nothing to do with you. You stick your precious nose in where it doesn’t belong. You spend two hypocritical days bickering and whining like a little girl. Now because holding your breathe and stomping your little feet hasn’t worked, you are resorting to threatening me! God, that is just priceless. Take my advice: 1. get over yourself. 2. scroll past the comments you don’t like. 3. Go report yourself for your threatening post. 4. Have a wonderfully precious day!
And just so you know, you’re both completely wrong, even this article is completely wrong
There’s currently 5900 homes for sale in southern Maryland, there’s no home shortage, it’s just fake media propaganda to push for more sales making people think there’s a home shortage
Well look at that, your story changes yet again! You don’t care about facts, remember? You don’t care about the article, remember? All you care about is whining about how offended you were reading comments that were directed at you and had nothing to do with you. Priceless.
And at what point were you threatened? I just offered a face to face interaction, you really can’t say anyone can’t read when obviously you can’t
Runaway little one, go back to your mommy
Dumb dogs lover you’re next if you want to keep cracking dumb jokes
Hahahaha dumb dog is about to catch a beat down!
Enough is right on one point, No Clue. You are a child.
Hahahahaha you’re the one scared right now, not me! 😁😁😁
Announced today that US will sell 15 billion cubic meters of liquified natural gas to Europe. The amount is expected to increase in coming years as Europe reduces its dependence on Russia for energy. US companies are supposed to benefit from US foreign policy…which benefits US workers and US stock holders. Under an isolationist mentality, the US’ dominant world position erodes and evaporates.
That gas is from your rear
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