PRINCE FREDERICK, Md. — Local Real Estate Expert Mark Frisco and his real estate team at Century 21 New Millennium says it is still a hot market in Calvert County.
In March, new listings soared 68.1% to 242 compared to February’s 144. That number is up 5.2% from March of last year.
New pending sales stood at 245, also up sharply from February’s 147 pending sales. Last year at this time, new pending sales stood at 169. That’s a year-to-year jump of 45%.
“You’ll notice only 5% more listings but 45% more pending sales,” Frisco said. “That inventory is still getting saturated pretty quickly.”
There were 156 closed sales, up 54.5% from February and 8.3% from last March. The median sold price was $400,000, up 14.3% from February’s $350,00 and 8.5% higher than last March’s median sold price of $368,700.
“It’s showing you how strong the market is and that home prices have inflated.”
There were just 96 active listings, down from slightly from February’s 107 and less than a third of March of last year’s 321 active listings.
“We want to keep our eyes on that,” Frisco explained. “When we see that active listing count starting to go up, that tells us we’re hitting the ceiling of the market.”
The average number of days on the market was 24, up 3 days from February’s average of 21 but still less than half the number for last March.
If you need expert help in buying or selling your home, contact Mark and his team at 443-486-5145.