Real Estate
SEPTEMBER 2017
THE COASTAL REAL ESTATE RESOURCE Coastal Association of Realtors/Ocean City Today
CAR welcomes 14 new members The Coastal Association of Realtors (CAR) welcomed 14 members during New Member Orientation on Aug. 3. Pictured, from left, are Temeka Mumford of Keller Williams Realty in Salisbury; Amy Crawford of SVN Miller Commercial Real Estate in Salisbury; Jeffrey Evans of Coldwell Banker Residential in Salisbury; Sarah Johnson of Bunting Realty in Berlin; Jennifer Smith of Vantage Resort Realty in Ocean City; Christy Gordon of EXIT Realty at the Beach in Ocean Pines; Julie Bonneville of Coldwell Banker Residential in Salisbury; Paul Vinroot of Keller Williams Realty in Salisbury; Marc Bouloucon of Keller Williams Realty in Lewes; Daniel Hill of Keller Williams Realty in Ocean City; Allan Scarborough of Whitehead Real Estate Executives in Salisbury; Ashley Tapia of EXIT Shore Realty in Salisbury; Nancy Bolt of Berkshire Hathaway HomeServices PenFed Realty in West Ocean City; and Donna Silverman of Re/Max Advantage Realty in Ocean City.
Contract numbers go up for single-family homes Lower shore sees rise in activity in what has been busy ‘17 summer season
(Lower Eastern Shore, Md.) Local Realtors saw a spike in market activity throughout July, according to the latest numbers from the Coastal Association of Realtors (CAR). July 2017 saw a 4 percent overall increase in single-family home and condominium contract starts compared to the same time last year in Somerset, Wicomico and Worcester counties. Individually, single-family home contracts increased by 16.9 percent in Worcester County, by 19.8 percent in Wicomico County, and by 64.3 percent in Somerset County. Condominium contracts increased by 4.7 percent in Worcester County, but decreased by 22.2 percent in Wicomico County and by 100 percent in Somerset County. Settlements were also up overall in the tri-county area by 2.5 percent. Individually, singlefamily home settlements were down by 6.6 percent in Worcester County and by 5.3 percent in Somerset County, but were up by 14.8 percent in Wicomico County. Condominium contracts increased by 4 percent in Worcester County, stayed the same in Wicomico County, and decreased by 100 percent in Som-
erset County. The number of overall listings reported in all three counties remained exactly the same as last year. However, when broken down into specific divisions, the numbers showed single-family home listings were down by 15.5 percent in Worcester County, by 5.4 percent in Wicomico County, and by 24 percent in Somerset County. Condominium listings were up by 13.8 percent in Worcester County, by 275 percent in Wicomico County and by 33.3 percent in Somerset County. Days on market was down overall by 48.5 percent. Listing prices and sale prices were both down by 6 percent. “We are hearing from members all over the lower Eastern Shore that they are very busy this summer,” said CAR President Don Bailey. “Contracts and settlements are both up from last year, inventory continues to decline in most areas, and days on market is down considerably. The local market is buzzing with activity and we expect the momentum to keep going throughout the remainder of the season.” CAR’s monthly local housing statistics are pulled from the association’s Multiple Listing Service, which represents the activity of over 1,000 local Realtors in Somerset, Wicomico and Worcester counties. Visit www.coastalrealtors.org for more information.