Southern Maryland Housing Market Strong Amid Impacts Of National Economic Uncertainty
Southern Maryland Housing Market Strong Amid Impacts Of National Economic Uncertainty

HUGHESVILLE, Md. – As fears of a recession loom across the country, the Southern Maryland housing market has already begun showing some new trends. 

Although the market is still busy, as would be anticipated at this time of year, it appears that the impacts of economic uncertainty have started to impact our region.  

Based on the most recently available data provided to the Southern Maryland Association of REALTORS® (SMAR), the Southern Maryland region saw a total sold dollar volume decrease of approximately 2.84% year-over-year, for a total of $272.4 million sold. 

The region has also begun to see active inventory grow, but new listings have slightly slipped. Year-over-year, active listings are up approximately 8.45%, and new listings are down 9.96%. 

Approximately 624 units were sold over the last month in Southern Maryland. 

Months of supply indicate that we are still in an unhealthy seller’s market, with approximately 0.81 months of supply available. The amount of supply will likely continue rising and reach healthier levels as new regulations begin to drive the market. 

Homes are still moving relatively quickly from the market, as the average days across the region saw a slight drop from last year, down from 12 to 10 days on average.  

Southern Maryland Housing Market Strong Amid Impacts Of National Economic Uncertainty

Over 87% of all homes that sold last month were on the market for 20 days or less. 

One sign that the market is slowing is seeing a decrease in the sold price to original list price ratio. This variable helps illustrate how much flexibility is in the market between buyers and sellers, and it decreased year-over-year from 102% to 101.4% 

The average sold price and median sold price both saw increases, up 8.95% and 9.93%, respectively. 

This could be the result of numerous factors, however, economic uncertainty paired with higher interest rates often leads fewer people to buy or sell homes. Seeing inventory begin to sit for lengths of time we saw pre-pandemic might become more common in the coming months. 

As interest rates rise, consumers will not be able to afford nearly the same home price that they used to. Experts from the National Association of REALTORS® have emphasized the need to increase oil supplies to help tame inflation and prevent mortgage rates from rising more. 

“While our economy struggles with recession and while interests are increased to curb that economic factor, buyers should not wait to enter into homeownership,” SMAR’s 2021-2022 President Gregg Kantak said. “The impact of higher interest rates may result in potentially less purchase power, but the power still exists, and the time to purchase remains now. This is not a wait-and-see moment, but it is ripe with opportunity, and your Realtor® can help you achieve your homeownership goal.” 

Housing market statistics from each county in the Southern Maryland region can be found below: 

Calvert County 

Units Sold: 155 (-22.11%) 

Total Sales Volume: $ 72,543,716 (-16.21%) 

Average Days On The Market: 9 (-5 Days from May 2021) 

Median Sold Price: $435,000 (+11.54%) 

Charles County 

Units Sold: 281 (-9.94%) 

Total Sales Volume: $ 125,054,230 (+1.98%) 

Average Days On The Market: 10 (-1 Day from May 2021) 

Median Sold Price: $425,000 (+11.11%) 

St. Mary’s County 

Units Sold: 188 (-3.09%) 

Total Sales Volume: $ 74,832,350 (+5.12%) 

Average Days On The Market: 11 (-2 Days from May 2021) 

Median Sold Price: $382,572 (+12.19%) 

Visit https://www.southernmarylandrealtors.org/pages/housing-statistics/ every month for additional details about the housing market in Southern Maryland. A video breakdown of the local statistics can be found on the SMAR YouTube page at: https://www.youtube.com/watch?v=uc9tGHmnJY4 

Statistics for this article were compiled with cooperation from Bright MLS, a leading housing market data source and a real estate listing service for Realtors® throughout the region. 

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53 Comments

  1. Hahahahahahaha. What BS. Hey! Realtors! Now is the time to buy in a declining market. Why not show data from the beginning of this year? Tell the people the effect of having interest rates that were once 3%, at the beginning of the year, and how they affect home prices now at 6%? Scam artists. Always selling fear and greed.

  2. The opening sentence of this press release is wholly incorrect. The housing market isn’t slowing due to fears of recession. The housing market is slowing because interest rates on mortgages have about doubled. Slowing the housing market is one of the key stated goals of the Federal Reserve. Chairman Powell stated so this week.

    1. Ahhhh yes, as usual you don’t have a clue, raising interest rates will only help fuel a recession princess, come on you cannot be this dumb but obviously you are
      Guess what is also happening right now with all those homes that sold at ridiculously high prices at 3% interest rates? Those buyers are now starting to go upside down on their homes, because as interest rates rise the home prices start dropping
      You may say I apologize any moment you wish, I’m waiting

      1. Home prices are not falling. Rising interest rates MAY help fuel a recession. You will receive no apologies from me No Clue. You should speak to your teachers and parents, though, as they obviously failed you.

        1. And did I or did I not say a recession was right around the corner? You said I was wrong, which clearly I’m not
          So you may apologize any time you wish, otherwise everyone knows you refuse facts, and defeat

          1. In the last realtors thread you said we were already in recession. Now you claim one in near or around the corner. You are consistently changing your tune. Seems to occur in conjunction with my posts of actual economic data. Strange? Nah.

        2. Literally did not say that, I said we were in the beginning stages of a recession, because the exact same thing happened in 2007 when home prices began spiking
          Learn to read

          1. There is no such thing as “the beginning stages of a recession”. We are either in recession or we are growing.

        3. Incorrect, I said we were at the beginning of a recession which the country is in, and is still in

          Do you not watch the stock market? Do you not watch inflation? Do you not watch interest rates? Do you not watch gas prices?

          Again facts are facts, you’re incorrect again, sorry to bust your bubble

          1. Wow…this was really dumb. So now you are back to saying we are in a recession. I really wish you would make up your mind.

          2. Yes I watch all those things. The BIG difference is I understand what they mean. You clearly don’t.

        4. I really wish you would get an education and learn to read, the country has been at the beginning of stages for months, do you think it begins overnight? You really are dumb and I mean dumb

        5. There is most certainly the beginning stages of a recession, it doesn’t happen over night, god you are really dumb and I mean that in the most respectful way

  3. Realtor and Zillow “your go to sites” just put out articles showing that home prices are dropping, now are you saying that your sites are putting out false information? Or are you saying you’re wrong? Which is it

    1. From the Realtor article: “Some of these dips are because prices grew too out of whack with what locals in many Rust Belt communities could afford. So prices had to come down a little to find buyers. In other cases, it’s not that the same house costs less. Rather, the lower prices are due to fewer larger homes, which generally fetch higher prices, going up for sale. ” When are you going to learn to read more than the headline?

      1. Realtor put out the article 4/25 this year, it shows home prices dropping and where they have dropped the most at that time

        Learn to read the correct article

        1. I quoted directly from the article, princess. That is what these mark, ” “, signify….a quotation. Obviously, you just read the headline.

        2. Note: You claimed this article was “just put out”. It is almost 2 months old.

          1. 2 months was just put out, it’s not 2 years old

            Facts are facts, you’re incorrect with your opinions

          2. And also April was right around the time you claim that the housing market wasn’t dropping yet your go to website says otherwise, that’s odd

      2. Home Prices Have Begun Falling: Here Are the Cities Where They’re Down the Most

        Read this article

        1. Again, I quoted directly from the article. I quoted paragraph 4 in almost it’s entirety. You didn’t bother to read that far.

          1. Read the entire thing

            Facts are facts, home prices are dropping, you refuse facts as usual, case closed

  4. The May report from NAR came out this morning. Median sales price at an all time high. Total sales down 3.4%, back to 2019 levels.

    1. Blah blah blah blah blah blah blah blah, more of your incorrect opinions I see
      Have you told on me yet? I’m surprised you haven’t yet

      1. Thanks for the morning chuckle. You post as article that you claim was just put out but is really 2 months old, it highlights outliers in an otherwise strong national real estate market, opens by explaining why those individual markets have LISTINGS with asking prices that are lower than before. Despite all this you claim this is undeniable proof of your position. I post actual SALES data from the day it is released and you claim it is bunk. God you are hilarious!!

        1. So now you’re saying that YOUR go to site for real estate information and facts is wrong? 😂😂😂😂😂😂😂😂😂😂 this is absolutely hilarious, I suppose next you’ll say the sky is green and run and tell on me

          Absolutely priceless I love it

    2. Big dog is DUMB says: June 21, 2022 at 4:45 pm Do you not watch the stock market? Do you not watch inflation? Do you not watch interest rates? Do you not watch gas prices?” Stock markets are not the economy (really really basic stuff that is) Inflation is, by definition, expansionary. DEFLATION is recessionary. Rising interest rates are only recessionary if they go too far. If gas prices get too high demand destruction can result. We are not seeing that, yet. Oh and, you don’t understand this either, slower growth is still growth. Recessions require general economic contraction.

  5. “Big dog is DUMB says: June 21, 2022 at 4:43 pm Read the entire thing Facts are facts, home prices are dropping, you refuse facts as usual, case closed.” You are right, case is closed. You are REALLY dumb.

    1. Exactly case closed you fail to provide facts, just your incorrect opinions as usual

  6. The Census Bureau reported this morning that sales of new homes in May rose 10.7% from the April number.

  7. Blacknight reported on mortgage delinquencies this morning: “The national delinquency rate fell five basis points from April to 2.75% in May, continuing the downward trend in overall delinquencies of the prior two months and marking yet another new low.”

  8. More hypocritical responses I see, so you’re now contradicting your go to site saying they are wrong 😂😂😂😂😂😂😂😂😂😂😂😂 this is absolutely hilarious
    On to the next article!

    1. Yes, for god’s sake, please go on to the next article. Before you do, please learn how to read and comprehend English. You’ve devolved from being hilarious to being just tiresome and boring. You have no ability to defend a position you hold or to provide relevant/timely data.

  9. Actually, no. What I am saying is you can’t read. Which makes your post such a glorious gift! Even when it is spelled out to you, you still can’t grasp…well just about anything.

    1. So you’re saying that your go to real estate site is incorrect

      Is the sky green yet?

      Did you tell on me yet?

      1. No. What I am saying is you can’t read. Which makes your post such a glorious gift! Even when it is spelled out to you, you still can’t grasp…well just about anything.

    2. This is absolutely hilarious 😂 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂

      Still just spitting out random things ! This is hilarious 🤣 🤣🤣🤣🤣🤣🤣🤣

      1. Please go on to the next article. Before you do, please learn how to read and comprehend English. You’ve devolved from being hilarious to being just tiresome and boring. You have no ability to defend a position you hold or to provide relevant/timely data.

        1. Same ole irrelevant garbage 🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡

  10. Now this article is going to be over 300 comments , absolutely comical!

    🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡🤡

    1. Given that you post articles you don’t understand , then can’t defend when quotes from the article is thrown back at you and given that you either have no response to actual data presented properly or your only reply is childish gibberish, I highly doubt this will go 300 posts. Your intellectual shortcomings have been fun to play with, but your pathetic posts have become a bore.

      1. It’ll most certainly go to 300 posts because you’ll keep trying to post the same irrelevant garbage over and over again

        Would you like to know what I did for you today?

        1. Ping me when you have something of value to add. As I said, you’ve become a bore and tiresome.

          1. Tiresome and boring? Really? Well if that’s what you think then you better start going around to gas stations and restaurants and get rid of your comments that I put up. You know the comments you made regarding the Texas incident? That should make things less boring for you. Tiresome? Sure you’ll be very tired after you do that, because I put them up all over

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