Tuesday, October 17, 2006
by Don DeHanas, Broker
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.
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