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REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY
Existing home sales increase
AUGUST 2021
Housing market shows strong growth in June
Continued on page 4 Existing-home sales in the Midwest rose 3.1 percent to an annual rate of 1,330,000 in June, an 18.8 percent increase from a year ago. The median price in the Midwest was $278,700, an 18.5 percent increase from June 2020. Existing-home sales in the South were unchanged from May, posting an annual rate of 2,590,000 in June, up 19.4 percent from the same time one year ago. The median price in the South was $311,600, a 21.4 percent climb from one year ago. Existing-home sales in the West rose 1.7 percent, registering an annual rate of 1,200,000 in June, a 23.7 percent jump from a year ago. The median price in the West was $507,000, up 17.6 percent from June 2020.
Maryland’s June 2021 housing market continued its robust growth with home sales reaching 10,790, an increase of 24.2 percent over the previous year’s sales of 8,686. Average sales price rose 17.4 percent to $443,764 over last year’s figure of $376,990. The median sales price of $375,000 grew 13.6 percent from $330,000 in June 2020. While median days on market continues to hover at 6 days compared to June 2020’s figure of 14 days, months of inventory continues to grow—ever so slightly—to one month, which signals slight growth since April 2021, when it was as 0.8. In June 2020, months of inventory was at 2.2. Feeding this increase in has been an increase in the number of new listings, 12,668 (In June 2020, it stood at 10,284), which has been growing since March 2021. “Though we’re not out of the woods yet with the lack of inventory, we’re seeing signals that indicate it may be easing up,” said Dee Dee Miller, 2021 president, Maryland Realtors. “The number of new listings has been growing and so too has active inventory, which has been increasing monthto-month since April 2021. At least part of the explanation for this is some frustrated buyers leaving the market because of increased competition or being priced out.”
Source: Maryland Association of Realtors
Coastal Association Affiliate Members Arrange the Change Sharon Knowles
Deeley Insurance Group Laura Bren
Marr Appraisals, Inc Kenneth Marr
Omni Land Settlement Corp Vonny Pilchard
Bay Capital Mortgage Richard Proctor
Delmarva Appraisals, LLC Beverly Wilson
Oracle Home Inspection Paul Vaillancourt
Bayshore Appraisals, Inc Janet Jones
Draper & Kramer Mortgage Corp Matthew Patterson
Maryland Department of Housing and Community Development Cecilia Weller Terry Catalano
Brennan Title Company Peter McGough John Brennan Brumbly Appraisal Services Inc. Alfred Brumbley Capitol Title Insurance Agency Kathy Burton Maura Burton Pilar Burton Chesapeake Remodeling Group Mike Davis Coastal Style Magazine Jon Westman Coates, Coates & Coates Thomas Coates W. Hank Fisher Community Settlement Group, LLC Scott Breza
Eastern Title and Settlement Josh Greene Elite Valuations, Inc Kathleen Hoffman Embrace Home Loans Jason Cook Gary K. Marshall Insurance Agency David Galeone Gismondi Insurance Assoc Beth Gismondi Greater OC Chamber of Commerce Nancy Schwendeman Guaranteed Rate Affinity Paul Soule Hometown Inspections LLC Robert Davis Emily Davis House Master Kathy Hoffman
Maryland Title Service Helene Parks Richardson Joseph Raskauskas Chrissy Roberts April Taylor McLean Mortgage Shawn Hunt Joanna Cherlariu Devon Eastlack Rebecca Harwell Beth Hunt Zack Hunt Aaron Jones Zach King Sam Kotzur Kristine Labert Metro Homes DMV, LLC Carlos Caraballo Mid-Atlantic Settlement Services Susan Lloyd Kelly Green
PrimeLending Rod Flowers Pro-Spect Inspection Services Tia Lipko Brooke Alicea Jonathan Fourquet-Laboy Tim Harriger Eric Hastings Bradley King Edgar Martinez Jay Mast Garr Owens Jacob Stanley Nicholas Strayer Josh Rose Salisbury Neighborhood Housing Amanda Smith Leah Dyson Shorelock Home Inspections, LLC Jay Aydelotte Superior Appraisal Service Meggin Nicholson Carrie Brown
Cope Mediation, LLC Peter Copenhaver
Integrity Appraisals Karen Vara
Mortgage Network Hope Morgan Patrick Clark Kaytlyn Senkbeil
CTW Real Property Appraisals C Terence Wittstadt
L Turner Appraisals LeRoy Turner
MottoMortgage Liz Buckley
Vacasa, LLC Sherry Jenkins
D3 Corp John Gehrig
Legum & Norman ~ an Associa Company Lisa Meck
MSC Home Inspectors James Howard
Wesbanco Laura Vest
T & G Builders Gary L. James John Rego
