OCTOBER 2015
MLS data standards adopted
DONATION TO HABITAT Presenting the symbolic check to Habitat for Humanity, from left, are Bernie Flax of the Coastal Association of Realtors Events Committee, Lauren Bunting of Habitat for Humanity of Worcester County and Hope Morgan of MNET Mortgage Corp. The amount was raised during CAR’s August business card exchange.
Season end nears, but sales stay solid Contracts surge ahead, as sales remain constant for three-county region
The summer season may be winding down, but the local real estate market is still hot, according to the latest figures from the Coastal Association of Realtors (CAR). CAR’s local housing statistics for August 2015 showed an overall 19.5 percent increase in contracts, or pending sales, compared to the same time last year in the tri-county area. Additionally, August’s 312 new contracts is the highest recorded in a single month so far this year. Wicomico County saw the greatest increase in contracts, with-single family homes increasing by 46.2 percent and condominiums by 80 percent. “Pending units are the leading indicator of sales, so obviously we’re doing quite well on the lower shore,” said Vicki Harmon, president of the
CAR Board of Directors. “As usual, we are optimistic those contracts will translate into increased settlements in the coming months.” Overall settlements throughout the tri-county area remained flat, compared to the same time last year. However, single-family home settlements in Wicomico were up 17.1 percent and condominiums in Worcester were up 2.4 percent. New listings of existing homes were down 4.4 percent as compared to the same time last year, which is reflective of a national decreasing inventory trend. However, despite the national trend of decreased inventory and increased prices, the lower shore saw decreased listing and sale prices in August. “It’s likely that those prices will go up in the off season, when continued low inventory creates higher demand,” Harmon said. CAR’s monthly local housing statistics are pulled from the associaSee CONTRACTS Page 8
The proceeds from a 50/50 raffle held during the Coastal Association of Realtors (CAR) August business card exchange were donated recently to the Worcester County chapter of Habitat for Humanity. Habitat for Humanity of Worcester County is part of a global, nonprofit housing organization that is dedicated to eliminating substandard housing locally and worldwide through constructing, rehabilitating, and preserving homes. It also advocates fair and just housing policies and by provides training and access to resources to help families improve their shelter conditions. “Habitat thanks CAR and its members for their continued support for our mission to provide decent housing for people in Worcester County,” said Lauren Bunting, vice president of the Worcester See CARD Page 8