PRINCE FREDERICK, Md. — Local real estate expert Mark Frisco from The Mark Frisco Team of Century 21 New Millennium says 2020 was an extraordinary year for real estate in Calvert County.
In 2020, $815 million worth of real estate was sold in Calvert County. That’s a 27% increase of over $640 million in real estate sales in 2019. Both the amount of property sold and the average sale price helped boost those numbers year-to-year.
The average sale price for Calvert County in 2020 was $399,000. That’s up 8.89% from 2019’s average price of $366,000.
Despite a super-low inventory of property for sale, 2,023 units sold in the county during 2020. That’s up from 1,734 units in 2019.
The average number of days on market decreased to 40 from 57 in 2019. Though that’s the average number, 882 pieces of property sold in less than 10 days. An additional 248 sold between the 11th and 20th day on the market. Over half of the properties sold in less than 20 days.
How did the actual sale price of these properties compare with the asking price? Mark says that’s a great question to ask any realtor you’re thinking about doing business with. What’s their average actual price vs. their average list price?
In 2019, the market average in Calvert was 96.7%. In 2020, that number rose to 98.4%.
In December, there were 126 new properties listed in Calvert County. That’s down 33% from November. It’s not unusual to see numbers drop from November to December, which is traditionally a slow month for real estate. But it’s worth noting that new listings were up 35.5% from December of 2019.
New Pending sales stood at 121. The number was down 34.6% from November but up 31.5% from December of 2019.
The number of closed sales took a 4.8% dip from November. However, the 179 closed sales represented a 36.6% jump from December of 2019.
The median sale price for December was $389,900. That’s up 13.4% from November and 18.5% from December of last year.
Currently, there are 135 active listings. That’s down slightly from 153 listings in November. It’s worth noting that the number of active listings is 65% less than in December of 2019.
That means there is only about three weeks’ worth of inventory available. Any time the amount of inventory dips below three months, it’s considered to be a seller’s market.
The average number of days on market in December was 18. That’s down from 25 in November and less than half the average number of days in December 2019.
The original list price to sale price ratio is 99.1%. Down slightly from 99.6% in November but up from 96.7% last December.
If you need help navigating the hot real estate market as either a buyer or a seller, contact Mark and his team at 443-532-8776.