JANUARY 2016
TOYS FOR TOTS During its 2015 holiday party at Seacrets on 49th Street in Ocean City, the Coastal Association of Realtors (CAR) collected more than 100 toys for the Toys For Tots Foundation and raised $1,000 for Wounded Warrior Project (WWP). Pictured, from left, are Coastal Realtors events committee members, Rosie Beauclair of Shamrock Realty Group, Pam Rocco of PNC Mortgage, Chris Short of Universal Mortgage & Finance, Nancy Britt of Coldwell Banker Residential, Sgt. Joshua Carson of the U.S. Marine Corps, Mary Burgess of Shamrock Realty Group, Pam Wadler of Shamrock Realty Group, and kneeling, Mike Ciorrocco of Universal Mortgage & Finance.
Pending sales growing Settlements decrease from Oct. but that’s part of seasonal cycle with slower wintertime sales
Berlin–Pending sales on the Lower Eastern Shore saw a significant increase in November, according to the latest figures from the Coastal Association of Realtors (CAR). CAR’s local housing statistics for November 2015 showed an overall 20.4 percent increase in pending sales or contracts compared to the same time last year in Somerset, Wicomico and Worcester counties. Most notably, contracts for single-family homes in Somerset County increased by a whopping 122.2 percent. Single-family home contracts in Wicomico County increased by 18.3 percent and remained flat in Worcester County. Settlements of single-family homes and condominiums were down across the board, with the exception of a slight increase in settlements of condominiums in Somerset County. Local inventory continues to decline, with the month’s stock decreasing by 13.9 percent as compared to the same time last year in all
three counties of the lower Eastern Shore. Listing and sales prices were up by 7.8 percent and 10.1 percent, respectively, compared to October. This is reflective of a national trend of decreased inventory resulting in increased prices. However, the ratio of homes that are selling at or close to their listing prices is up in all three counties, which reflects more accurate appraisals and the expertise of local Realtors who know their products. “We traditionally see a dip in sales during this time of the year, as the weather gets colder and prospective clients shift their focus to the holidays and their families,” CAR President Linda Moran said. “Rising prices and soon-to-be increased mortgage interest rates may impact the local market in the new year. “But our Realtors are dedicated to helping their clients figure out to make their dreams of home ownership or second home ownership come true.” CAR’s monthly local housing statistics are pulled from the association’s Multiple Listing Service, which represents the activity of more than 1,000 local Realtors in Somerset, Wicomico and Worcester counties.