Southern Maryland Real Estate Trends for September 2006
The real estate trends for the region, while slower than in 2005 are still showing positive growth signs. I will break down the trends by county so that my readers can have more of a localized perspective. This information has been obtained by the Metropolitan Regional Information Systems, MLS.
Charles County Maryland
| 2006 | 2005 | ||
|---|---|---|---|
| Total Sold Dollar Volume: | $ 84,411,941 | $ 98,383,816 | - 14.20 % |
| Average Sold Price: | $ 356,169 | $ 339,255 | 4.99 % |
| Median Sold Price: | $ 325,000 | $ 320,000 | 1.56 % |
| Total Units Sold: | 237 | 290 | - 18.28 % |
| Average Days on Market: | 64 | 29 | 120.69 % |
| Average List Price for Solds: | $ 368,471 | $ 342,507 | 7.58 % |
| Avg Sale Price as a percentage of Avg List Price: |
96.66 % | 99.05 % |
While the month of September produced a whopping 1328 listings on the market, only 203 of them went under contract, down 18.28% to 2005.. The largest percentage of listings fell between the $350,000 and $599,000 price range. However, good news for Charles County home sellers, the average sales price did go up by almost 5%. Also note the average days on market has doubled over last year.
Calvert County Maryland
| 2006 | 2005 | ||
|---|---|---|---|
| Total Sold Dollar Volume: | $ 36,434,608 | $ 49,445,832 | - 26.31 % |
| Average Sold Price: | $ 396,028 | $ 368,999 | 7.33 % |
| Median Sold Price: | $ 329,500 | $ 322,500 | 2.17 % |
| Total Units Sold: | 92 | 134 | - 31.34 % |
| Average Days on Market: | 83 | 57 | 45.61 % |
| Average List Price for Solds: | $ 401,552 | $ 376,566 | 6.64 % |
| Avg Sale Price as a percentage of Avg List Price: |
98.62 % | 97.99 % |
Similar to Charles County, Calvert County saw a small increase in sold price, but a dramatic drop in home sale transactions from 2005 sitting at -31.34%. September's total of listings chimed in at 922, with only 10% of the market inventory selling.
St Mary's County Maryland
2006 2005
| Total Sold Dollar Volume: | $ 46,347,738 | $ 50,718,798 | - 8.62 % |
| Average Sold Price: | $ 356,521 | $ 331,495 | 7.55 % |
| Median Sold Price: | $ 329,493 | $ 325,000 | 1.38 % |
| Total Units Sold: | 130 | 153 | - 15.03 % |
| Average Days on Market: | 80 | 43 | 86.05 % |
| Average List Price for Solds: | $ 374,358 | $ 337,547 | 10.91 % |
| Avg Sale Price as a percentage of Avg List Price: |
95.24 % | 98.21 % |
St Mary's County fared the best in the Southern Maryland region, with only a 15% decline in the number of homes sold over the previous year. In addition, St Mary's homes sold, on average, at 7.55%, posting higher gains than Charles County, Calvert County and Prince Georges County.
Prince Georges County Maryland
2006 2005
| Total Sold Dollar Volume: | $ 337,180,968 | $ 444,769,393 | - 24.19 % |
| Average Sold Price: | $ 342,664 | $ 321,830 | 6.47 % |
| Median Sold Price: | $ 330,000 | $ 310,000 | 6.45 % |
| Total Units Sold: | 984 | 1,382 | - 28.80 % |
| Average Days on Market: | 49 | 26 | 88.46 % |
| Average List Price for Solds: | $ 350,840 | $ 323,342 | 8.50 % |
| Avg Sale Price as a percentage of Avg List Price: |
97.67 % | 99.53 % |
With more than $300 million in total home sale volume, Prince Georges County still suffered a 28.8% decline in units sold during the month of September, over September of 2005. Prices did increase a modest 6.47%, but nowhere in Southern Maryland did the average home owner get more than their average list price, an indication that home sellers are having to negociate more than they did a year ago.
