Real Estate
JANUARY 2018
THE COASTAL REAL ESTATE RESOURCE Coastal Association of Realtors/Ocean City Today
CAR installs new officers and directors
The Coastal Association of Realtors recently installed its 2017-2018 board of directors. Pictured, in back, from left, are Jeff Powell, Brandon Johnson, Grant Fritschle, Don Bailey, Grace Masten, Steven Parsons and Austin Whitehead, and in front, Joe Wilson, Bernie Flax, Joel Maher, Joni Williamson, and Tony Prochazka.
Salisbury, Md. – The Coastal Association of Realtors (CAR) installed its 2017-2018 board of directors during a recent special ceremony at The Ward Museum in Salisbury. Joel Maher, a Realtor for Coldwell Banker Residential in Salisbury, was installed as president of the association’s board. “It is an honor and a privilege to lead the association into another successful year,” Maher said. “CAR will continue to provide excellent service to its over 1,000 members while also increasing its outreach to consumers and real estate affiliates.” Maher was installed by Greg Erdie, branch vice president of Coldwell Banker Residential in Salisbury. The following members were also installed during the ceremony by Boyd Campbell, 2017-2018 President of the See COASTAL Page 15
No autumn chill seen in Nov. sales statistics Lower Eastern Shore, Md. – The local real estate market is seeing increased pending contracts and settlements compared to last year, according to the latest numbers from the Coastal Association of Realtors (CAR). November 2017 saw a 7.7 percent jump 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 22.4 percent in Worcester County, and remained the same in Wicomico and Somerset counties. Condominium contracts increased by 125 percent in Wicomico, and remained the same in Worcester and Somerset. Settlements were up by 12.7 in the tri-county area. Individually, single-family home settlements were up by 31.7 percent in Worcester County and by 26.7 percent in Somerset, but were down by 11.4 percent in Wicomico. Condominium settlements were up by 14.3 percent in Worcester and by 125 percent in Wicomico, but remained the same in Somerset. Inventory saw a healthy spike in November, with the entire area expe-
riencing an overall 19.9 percent increase in listings. Individually, singlefamily listings were up by 27 percent in Worcester, by 9.1 percent in Wicomico, and by 35.3 percent in Somerset. Condominium listings were up by 21.8 percent in Worcester and by 42.9 percent in Wicomico, but remained the same in Somerset. Days on market were down overall by one percent. Listing prices were down by 5.7 percent and sale prices were down by 4.6 percent. “Although we are entering what is historically our slowest time of the year, as people turn their attention to the holidays and their families, that boost in local inventory could propel sales activity and have us wrap up 2017 on a high note,” said CAR President Joel Maher. “It’s great to see confidence among buyers and sellers. These numbers are a sign of a healthy market.” 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. Visit www.coastalrealtors.org for more information.