REAL ESTATE RESOURCE: COASTAL ASSOCIATION OF REALTORS /OCEAN CITY TODAY
MAY 2021
PAGE 11
Prices, sales up as market’s pace quickens Inventory throughout state remains exceptionally low ANNAPOLIS, MD – Maryland’s housing market continued its strong sales pace in 2021 with March sales figures of 7,964 units sold, which outpaced the previous year’s sales of 7,148 by 11.4 percent. The average sales price, $404,606, reflected an increase of 11.3 percent from March 2020, while the March 2021 median sales price of $342,500 outpaced the previous year by 8.7 percent. An indicator of how fast the
market is moving, median days on market, dropped to just seven days in March. Housing inventory, or the lack thereof, remains the overarching concern with the current market. For the first three months of 2021, months of inventory has remained at 0.8, while the pool of active inventory has continued to shrink. March 2021’s active inventory was recorded at 6,202 — a shadow of March 2020’s active inventory, which stood at 19,061. “Home sales are continuing at a
formidable pace. Even pending units — houses under contract — are up substantially, at 10,337, an increase of 35.4 percent from last year,” said Dee Dee Miller, 2021 president, Maryland Realtors, “but yes, the concern remains with available inventory. With fewer homes available to sell, it’s driving the price up, which is good for sellers, but it could drive some potential buyers out of the market.” The number of new listings showed a small increase, from 10,441 in March 2020 to 10,970 in 2021 but this is not likely to have a significant
impact on other factors driving this market, she said. In a recent post on LinkedIn, Dr. Lawrence Yun, chief economist for the National Association of Realtors, stated, “Today’s market is so hot and so rare that over a half of homes are being sold above the listed price in some states. After this current real estate cycle, I do not ever expect to see another frenzy [of] multiple offers in my lifetime.” From NAR data, 42 percent of the existing homes sold in Maryland were sold above the list price.
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Neighbors Serving Neighbors - One Home at a Time 410-208-9200 • 800-337-7368 • 11065 Cathell Road, Ocean Pines • 8202 Coastal Highway, Ocean City • 410-723-9450 Licensed in MD, DE
Tim
Ulrich Associate Broker 410-422-1441 Cell timrealestate9 @gmail.com
BUILD YOUR DREAM HOME One of the last waterfront lots left in Terns Landing. Oversized lot with 80’ of bulkheaded water frontage. Surround yourself with gorgeous single family homes! Many opportunities for this property. $410,000
Cindy
Crockett REALTOR®, GR Licensed in MD
• www.hilemanrealestate.com • e-mail: hilemanre@aol.com
410-430-0587 Cell Cindy@HilemanReal Estate.com
BUILD YOUR PERFECT COUNTRY HOME!
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$94,900
LISTINGS NEEDED! If you have been thinking of SELLING or RENTING your home, NOW IS THE TIME!! We have qualified BUYERS and RENTERS waiting in line! CALL US TODAY! RESORT LIVING ALL YEAR ROUND!
Terri
3BR/2BA, open floor plan w/crown molding throughout. Kitchen w/large center island & pantry. Primary BR w/tray ceiling, access to private balcony & large bath w/dual sink vanity, soaking tub, shower & tile floor. Community amenities - private beach, in- & out-door pools, fitness center, crabbing pier & so much more! Mid-town location within 2 blocks from the beach. Call for your personal tour.
LARGE 3/4 ACRE WATERFRONT LOT & HOME TO BE BUILT
Hileman OWNER/BROKER GRI & CRS Licensed in MD, DE
443-235-5982 Cell Debbie@Hileman RealEstate.com
Sonia
Zaffiris Associate Broker GRI, CRS
Licensed in MD, DE
410-251-6217 soniasez@aol.com
GET READY FOR SUMMER HERE!
Charming contemporary Cape with 3 BR's, 2 & 1/2 baths. Watch the world go by on the rocking chair front porch with welcoming wrap around. A screened in room overlooks fenced in yard for outdoor enjoyment. Well cared for & one year home $274,900 warranty! Don't delay!
Bethany
Drew
NEW LISTING
3BR/2BA Cottage. Brand new roof, kitchen w/soft close cabinets, custom shelving, Calcutta quartz counters, large breakfast bar, new SS appliances, light fixtures and Cortech flooring throughout entire home. New drywall freshly painted. Baths w/new vanities, ceramic tile and fixtures. Walk to $249,900 Farmers Market and pools.
In the Whitetail Sanctuary Section of Ocean Pines. New Boat Dock already in place for your Boating Enjoyment! Absolutely gorgeous views of Manklin Creek and the Isle of Wight Bay. Located at the end of a peaceful Cul-de-Sac. Opportunities like this don't come often! Two Level home up to 5,000 sq.ft with $75,000 of options to be chosen by the buyer. First & 2nd level Owner's Suites, Open Great Room, Library, Laundry, Office, Sun room, Studio and Garage. Please call for plans and details. House & Lot $975,000 • Lot Only $389,900
Associate Broker, GRI
Associate Broker, $395,000 GRI
TOTAL RENOVATION!
Debora E.
Bradford
Licensed in MD, DE
Terri: 410-430-6875 Bethany: 410-430-2602 www.PO2Team.com Powerof2@PO2Team.com
NEW PRICE
Lynette
Bridges-Catha CRS, PMN, GREEN, SRES
Licensed in MD, DE
BEAUTIFUL HOME
Completely remodeled 4BR/2BA. Yard work has not been completed, but keep in mind when looking at property. Buyers should do their own due diligence to measure property and confirm all information to their satisfaction. $269,500
BLOCKS FROM BOARDWALK & BEACH
Large 3BR/2BA in downtown area. Peaks of the bay & pool from your wrap around balcony. Waterfront access. Open floor plan, kitchen w/breakfast bar, dining area & open living space. Gas fireplace. Plenty of natural light. Master bedroom & en-suite bath w/jetted soaking tub, walk-in shower. Full size washer & dryer in laundry room, outside secured storage locker & under building parking. Walk to shops, restaurants & marinas. $450,000
443-497-3128 Cell Smilin4shore@comcast.net
Kevin D.
Heselbach REALTOR , GRI, RSPS ®
Licensed in MD & DE
410-723-9450 Office kheselbachHRE @gmail.com
