News Release, Southern Maryland Association of Realtors
Average and median home prices increased during the first quarter in St. Mary’s County, according to the Southern Maryland Association of REALTORS® (SMAR). Average and median prices grew by 4.9 and 9.5 percent respectively as compared to the same time in 2018. Active inventory decreased by 8.6 percent while months of available inventory increased to 3.44 percent, a slight increase of .4 percent over 2018. A six to six-and-a-half-month supply is considered to be a healthy market.
“The first quarter increase we see is a sign that residential housing prices in St. Mary’s County is steady”, said SMAR President Judy Szynborski. She went on to note, “pending units or homes that are under contract but not settled were also up by 7.0 percent.”
Monthly housing statistics for St. Mary’s County are compiled by data as reported by Bright MLS. 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.
St. Mary’s 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.