MARCH 2016
With warmer temps, sales should go up Decrease in resort sales results from cold February, spring should bring thaw (BERLIN, MD) – Several months of increased contracts translated into settlements in February, according to the latest figures from the Coastal Association of Realtors (CAR). CAR’s local housing statistics for February 2016 showed an overall 5.2 percent increase in settlements compared to the same time last year in Somerset, Wicomico and Worcester counties. Of particular note were increases of 24.4 percent and 75 percent in Wicomico County single-family homes and condominiums, respectively. Worcester County’s settlements of single-family homes and condominiums decreased by 16.7 percent and 11.9 percent, respectively, compared to the same time last year. Contracts, or pending sales, were largely down, with the exception of a 12.5 percent increase of condominiums in Wicomico County, a 2.5 per-
cent increase of single-family homes in Wicomico County, and a 3.9 percent increase of condominiums in Worcester County. Local inventory increased by 8 percent in all three counties. Listing and sale prices were up by 12.6 percent and 13.3 percent, respectively, compared to January 2016. Days on market was up 56.9 percent. “The overall market is historically slower in February due to cold temperatures. We saw a significant amount of snow over the past few months, and that puts everything on hold; but despite that, we saw some encouraging numbers in February,” said Coastal Association of Realtors President Linda Moran. “Expect to see those settlement numbers continue to increase as the weather gets warmer and we head into the busy season.” CAR’s monthly local housing statistics are pulled from the association’s Multiple Listing Service, which represents the activity of more than 1,000 Realtors in Somerset, Wicomico and Worcester counties. Visit www.coastalrealtors.org for more information.
CAR selects 3 finalists in poster contest Students from Lower Shore will compete at state level
Ayati Sangwan holds her first-place entry in the Fair Housing Poster Contest. Pictured, from left, are CAR Executive Vice President Page Browning, Community Involvement Committee members Ann Hammond and Brad Rayfield, CAR President Linda Moran and North Salisbury Elementary School Principal Ruby Brown.
(LOWER EASTERN SHORE) – After receiving more than 175 submissions, the Coastal Association of Realtors (CAR) has chosen three finalists – one from each of the three Lower Shore counties – of this year’s Fair Housing Poster Contest. • 1st Place: Ayati Sangwan, 5th grade, North Salisbury Elementary School • 2nd Place: Lindsay BirkheadMorton, 6th grade, Snow Hill Middle School • 3rd Place: LaNazia Goeins, 4th grade, Princess Anne Elementary School Finalists received framed copies of their submission and a Visa gift card, compliments of CAR. The three finalists have been forwarded to the Maryland Association of Realtors (MAR). See CAR Page 14