Real Estate
JULY 2017
THE COASTAL REAL ESTATE RESOURCE Coastal Association of Realtors/Ocean City Today
Realtors pitch in on pocket park for Smith Island National association issues $5,000 grant for project
Assisting with the Smith Island project, from left, are Realtor Nick Elko, CAR Board Member Tony Prochazka, CAR President-elect Joel Maher, CAR President Don Bailey, CAR Executive Vice President Page Browning, CAR board member Joseph Wilson, CAR board member Brandon Johnson, Somerset County Recreation & Parks Director Clint Sterling, Maryland Realtors Director of Housing Programs Laurie Benner, Somerset County Community Health Educator Crystal Bell, and in front, Sophia and William Prochazka.
May shows big increase in contracts, settlements
ments were up by 11.1 in Wicomico and were down by 3.7 percent in Worcester and by 31.2 percent in Somerset. Condominium settlements were (Lower Eastern Shore) Listings, by up 200 percent in Somerset, by contracts, settlements and sale prices 71.4 percent in Wicomico and by 33.6 all increased in the local housing percent in Worcester. Listings were up overall by 4.2 market throughout May, according to percent. Individually, singlethe latest numbers from the family home listings were up Coastal Association of Reby 33.3 percent in Somerset, altors (CAR). ‘People are 8.3 percent in Wicomico, May 2017 saw a 16.3 heading to the by and by 10.7 percent in percent overall increase in settlement Worcester. single-family home and table much Condominium listings condominium contracts compared to the same time faster than they were up by 53.8 percent in last year in Somerset, were this time Wicomico and were down by 14.1 percent in Worcester. Wicomico and Worcester last year.” Condominium listings in counties. Somerset remained the Individually, single-famsame. ily home contracts inDays on market was down overall creased by 83.3 percent in Somerset, by 29.8 percent in Wicomico and by by 18 percent. Listing prices were up by 17.5 percent and sale prices were 4.7 percent in Worcester. Condominium contracts increased up by 17 percent. “It’s a great time to be in the real by 14.3 percent in Wicomico and by 5.2 percent in Worcester. No condo- estate business on Maryland’s Lower minium contracts were recorded in Eastern Shore,” said CAR President Don Bailey. “Contracts and settleSomerset. Settlements were up in the overall ments are both up and we’re seeing tri-county area by 16 percent. Indi- increased inventory with increased vidually, single-family home settleContinued on page 14
Time on market decreases, as prices rise and listings totals also post large gains
(Smith Island, Maryland) The Coastal Association of Realtors (CAR) traveled to Smith Island on Tuesday, June 13 to help build a pocket park primarily funded by a grant the association received from the National Association of Realtors (NAR). The local Realtors were joined by their children, CAR staff, a representative from Maryland Realtors, representatives from the Maryland Department of Planning’s Lower Eastern Shore Regional Office and representatives from Somerset County. Earlier this year, CAR received a $5,000 “Placemaking” grant from NAR to help make Smith Island a better place to live and visit by transforming an unused space into a vibrant public space for the community to gather and enjoy. Continued on page 14