St. Mary's County Housing Market January 2021

ST. MARY'S COUNTY, Md. - The real estate market in St. Mary's County remained strong in January.

New listings jumped 26.2% from December, though they did drop 7.8% from January of last year.

New pending sales stood at 179, an increase of 17.8% from December and a 9.8% increase from January of last year.

Local real estate expert Mark Frisco from the Mark Frisco Team at Century 21 New Millennium said, "What we're seeing here is fewer listings going to the market and more listings going under contract."

Closed sales were down 26.2% from December at 149, but up 38% from January of last year.  The median sold price of $310,500 was down 5.9% from December but up 10.5% from January of last year.

There are 129 active listings currently on the market. That's down from 143 in December, It's also a huge drop from the 313 active listings in January of 2020.

Frisco said there is still less than a month's worth of inventory available and the average number of days on market is 23. 

"That is a very interesting thing that we're going to need to watch right now. Honestly, most properties are selling really, really fast as they hit the market. I'm curious to see why the average days on market is reflecting so long with the marketplace being so hot."

The average sold price ratio compared to the list price in St. Mary's County is 98.9%.

Frisco said the shortage of inventory is leading to multiple offers for many properties.

"If you're a buyer, you have to make sure you're well-equipped to compete in that very, very busy marketplace."

If you'd like advice from Mark and his team, contact them at 443-486-5145.

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