Real Estate
JUNE 2017
THE COASTAL REAL ESTATE RESOURCE Coastal Association of Realtors/Ocean City Today
Realtors updated by legislators at annual breakfast Involvement in process key, CAR Pres. Bailey declares
Attending the Coastal Association of Realtors breakfast on May 11 in Salisbury, from left, are CAR Director and Government Affairs and RPAC Committees chairman Joseph Wilson, Del. Chris Adams, CAR President Don Bailey, Sen. Adelaide Eckardt, Sen. Jim Mathias, Del. Charles Otto, Del. Sheree Sample-Hughes, Del. Carl Anderton, Eastern Shore Intergovernmental Affairs Liaison for Gov. Larry Hogan’s Office Bunky Luffman, Del. Mary Beth Carozza and Del. Johnny Mautz.
April surge in contracts indicate busy summer Pending sales show boost of 11 percent for condos, single-family residences
(Lower Eastern Shore, Md.) — A recent spike in contracts or pending sales points to a busy summer, according to figures from the Coastal Association of Realtors (CAR). April 2017 saw an 11 percent overall increase in single-family home and condominium contracts compared to the same time last year in Somerset, Wicomico and Worcester counties. Individually, single-family home contracts increased by 7.2 percent in Worcester and by 8.5 percent in Wicomico. They decreased by 6.2 percent in Somerset. Condominium contracts increased by 16.9 percent in Worcester and by 33.3 percent in Wicomico, and remained the same in Somerset. Settlements also were up in April, with the tri-county area seeing a 9.8 percent boost. Individually, singlefamily home settlements were up by 13.5 percent in Worcester and by 21.6 percent in Wicomico. They were down by 33.3 percent in Somerset. Condominium settlements were
up by 10.4 percent in Worcester and were down by 37.5 percent in Wicomico. There were no condominium settlements last month in Somerset. Listings stayed down in April, with the exception of a 12.3 percent increase in Worcester single-family home listings and a 50 percent increase in Wicomico condominium listings. Listings were down overall by 7.5 percent. Days on market were up overall by 18.2 percent. Listing prices were down 1 percent and sale prices were down 0.5 percent. “Our members are very busy, which is a great sign of things to come,” said CAR President Don Bailey. “Those increased contracts will translate into increased settlements, as more and more people continue to recognize the value of investing in the beautiful lower Eastern Shore.” CAR’s monthly local housing statistics are pulled from the association’s multiple listing service, which represents the activity of more than 1,000 Realtors in Somerset, Wicomico and Worcester counties. Visit www.coastalrealtors.org for more information.
(Salisbury, Md.) — The Coastal Association of Realtors (CAR) held its annual legislative breakfast on Thursday, May 11 at the Wicomico Youth & Civic Center in Salisbury. Nearly 80 Realtors and affiliate members attended, as did state and local elected officials. Held in the Flanders Room, the event featured breakfast and addresses from numerous officials and their representatives. Speaking to the audience were Eastern Shore Intergovernmental Affairs Liaison for Gov. Larry Hogan’s Office, Bunky Luffman, Sen. Adelaide Eckardt, Sen. Jim Mathias, Del. Sheree SampleHughes, Del. Chris Adams, Del. Johnny Mautz, Del. Charles Otto, Del. Carl Anderton and Del. Mary Beth Carozza. The elected officials provided an update on what they accomplished during the 2017 legislative session of See REALTORS Page 16