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July housing market update: Calvert County

Prince Frederick, MD - A moderately average real estate market turned out in Calvert County over the past month. The year-over-year comparisons from the most recently available data of June show just slight changes from this time last year, with no unanticipated statistics showing up.

As a matter of fact, the only significant statistical change from this time compared to last year was a 21.18 percent decrease in average days on market, which ultimately reinforces the fact that the market is doing well right now. The number of days dropped from 85 in 2018 to 67 now, which is only the first stat to show that “good homes don’t last” as many real estate agents will explain. Additionally, most homes that sold this month had only been on the market for less than 10 days, with one home selling in less than one day.

All other statistics are rather basic and relatively anticipated. Active inventory is down by 12.7 percent compared to this time last year, but that follows the national trend of declined inventory.

Additionally, the total number of units which sold and the sold dollar volume for the month, correspond to last year at this time with appropriate increases. Even though the total number of units sold only increased by seven, that increase was 4.35 percent. Similarly, the total sold volume increased by similar margins, seeing roughly 4.5 percent gains when compared to 2018.

Another positive note for home sellers in Calvert this time can be found in the average sale price to original list price ratio. Compared to 2018’s ratio of 97.3 percent, 2019 saw a gain in this category of 1.49 percent or 98.8 percent overall. This means that home sellers clearly have the upper hand right now, and that they are likely making sales for very close to listed price.

Average sold price and median sold price saw increases of 1.34 percent and 4.78 percent, respectfully. While this could arguably be seen as inflationary changes, that just goes to support a healthy housing market right now for Calvert.

Though low on inventory for this time of year, the correlation to a national trend should not be enough to raise any red flags in the county. The market should still be considered a seller’s market at this time.

All statistics for this article were obtained via the Bright Multiple Listing Service.

Contact Zach at zach.hill@thebaynet.com .

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