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Is Calvert County’s Hot Housing Market Cooling Off?

PRINCE FREDERICK, Md. -- Is the hot real estate market in Calvert County cooling off? Local real estate expert Mark Frisco with Century 21 New Millennium doesn't think so.

February's new listings held steady at 144, down just 1 from January but down 16.3% from February of last year.

New pending listings dropped 8.1% from January to 147. That's also an 8.1% drop from February of last year.

There were 101 closed sales in February. That's a 7.3% drop from January of this year but a 7.4% increase from this time last year.  "It's kind of a weird phenomenon," Frisco said. "The surrounding counties are sitting at a little bit higher than that."

The median sold price went up 6.1% from January and stands at $350,000.  That's 2% less than February of last year, though.  Frisco said, "That's a number that we need to watch. If it continues to go down, the market could be shifting in the opposite direction. Which I do not think is the case. I think the March statistics are going to be very strong."

There were 107 active listings in February. That's down slightly from January's 110 and nearly a third of last February's 301 listings.  

The average number of days on market stands at 21. That's down from 30 days in January and 71 days in February of 2020.

Original listing price to average sold price ratio was a strong 99.8%. That's up 1% from January and 2.8% from February of last year.

Frisco said that the market looks good overall. "There is less inventory than there was last year, making this a phenomenal seller's market."

If you need help buying or selling in this sizzling market, contact Mark and his team at Century 21 New Millennium at 443-486-5145.

 

Contact our news desk at news@thebaynet.com

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