News Release, Southern Maryland Association of Realtors
Home prices made a slight increase during the first quarter in Calvert County according to the Southern Maryland Association of REALTORS® (SMAR). Average sales prices increased by 0.6 percent compared to the same time in 2018, while the median sale price dropped by 4.7 percent during the first quarter. Pending units saw an 11.8 percent decrease while active inventory increased by 9.7 percent. Months of available inventory dropped to 3.41 months, a 3.6 percent decrease over 2018. A six to six-and-a-half-month supply is considered to be a balanced market.
“The tightening of units sold and active inventory is all due to lack of inventory,” said SMAR President Judy Szynborski. She went on to say, “We are hopeful that more inventory will be available during the spring selling season to ease this burden.”
Monthly housing statistics for Calvert County are compiled by data as reported by Bright/MRIS. For the purposes of this report, “units” are defined as the closed sales and “pending units” are properties under contract. Months of inventory are based on the current active inventory and monthly sales for the corresponding month.
Calvert County is part of the Southern Maryland Association of REALTORS®, which is an affiliate of the Maryland REALTORS® and National Association of REALTORS®. We are proud to serve our members and our community and work to ensure professionalism in the industry. Our volunteers and staff work to offer services to real estate professionals and to provide avenues for our members to become more successful. We proudly work to promote and protect homeownership and private property rights.