Real Estate R
JUNE 2016
THE COASTAL REAL ESTATE RESOURCE Coastal Association of Realtors/Ocean City Today
April stats indicating busy summer season
Attending the May 18 legislative breakfast, from left, are Sen. Jim Mathias, Sen. Adelaide Eckardt, Del. Charles Otto, CAR Director of Government Affairs and RPAC Committees Chair Joseph Wilson, Maryland Association of Realtors Government Affairs Director Susan Mitchell, CAR President Linda Moran, Del. Chris Adams, Del. Mary Beth Carozza, and Del. Carl Anderton. (Not pictured) Del. Sheree Sample-Hughes, Del. Johnny Mautz, and Luis Luna, director of the Governor’s Office of Performance Improvement.
Realtors hold legislative breakfast R Elected officials give update on session, goals for next year SALISBURY – The Coastal Association of Realtors (CAR) held its annual legislative breakfast on Wednesday, May 18 at the Wicomico Youth & Civic Center. Nearly 100 Realtors and affiliate members, state elected officials, and local elected officials attended the
event, which was held in the Danang Room. Attendees enjoyed a hearty Eastern Shore breakfast while listening to guest speakers Luis Luna, director of the Governor’s Office of Performance Improvement; Sen. Adelaide Eckardt; Sen. Jim Mathias; Del. Sheree Sample-Hughes; 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 2016 legislative session of the General Assembly and their goals for the interim and next year. “The talks were very informative and we appreciate our elected officials taking the time out of their busy schedules to have breakfast with us,” said CAR President Linda Moran. See LEGISLATORS page 22
Moran named to economic devel. corp.
recommendation of of At the recommendation recommendation of S Sen. Jim Mathias, Linda S Moran, the 2016 president of the Coastal Association of Realtors (CAR) and a Realtor with Berkshire Hathaway HomeService PenFed Realty, was recently appointed to the Maryland Economic Development Corporation (MEDCO) Board of Directors. Moran was confirmed by the Maryland Senate and received a proclamation from Gov. Larry Hogan. She was later sworn into the position See JOINS page 8
State Sen. Jim Mathias presents proclamation to Donna Moran.
BERLIN – Local Realtors were very busy in April, according to the latest figures from the Coastal Association of Realtors (CAR). CAR’s local housing statistics for April 2016 showed an overall 24.2 percent increase in contracts, or pending sales, in Somerset, Wicomico, and Worcester counties, compared to the same time last year. Most notable was a 40.8 percent increase in contracts on single-family homes in Worcester County and a 50 percent increase in condominium contracts in Wicomico County. Somerset County posted a 33.3 percent increases in contracts singlefamily homes. Settlements showed an overall increase of 8.2 percent in Somerset, Wicomico, and Worcester counties, compared to the same time last year. Days on market showed an overall decrease of 17 percent, reflecting a reduction in the amount of time it takes for a home to leave the market and hit the settlement
table. Local inventory decreased by 10.3 percent. Listing and sale prices were up by 10 percent and 10.2 percent, respectively. Linda Moran, president of CAR, said April’s numbers are indicative of a very active summer for local real estate practitioners. “We’re so pleased to see such a boost in confidence among local buyers,” Moran said. “And our members are standing by, available to serve anyone interested in a second home or a permanent home on the Lower Eastern Shore of Maryland.” The trend of increased sales activity despite decreased inventory numbers is reflective of what’s happening in the national housing market, according to Lawrence Yun, chief economist for the National Association of Realtors. “This spring’s surprisingly low mortgage rates are easing some of the affordability pressures potential buyers are experiencing and are taking away some of the sting See PRICES page 8