LEXINGTON PARK, Md. — Local Real Estate Expert Mark Frisco from the real estate team at Century 21 New Millennium says the St. Mary’s County Real Estate market remained strong in March.
New listings jumped a whopping 62% from the previous month to 245. However, they only increased by .4% compared to March of 2020. New pending sales also took a sharp jump to 217 from February’s 155. They were up slightly from last March’s number of 211.
Closed sales for March sat at 191. That’s up 48.1% from February and 23.2% from this same time last year. The median sold price rose slightly from $315,000 in February to $325,000 in March. That’s a jump of 6.6% from last March’s median sold price of $305,000.
There were 123 active listings in March. That’s not too far off February’s number of 118, but less than half of the number of active listings available last year at this time.
Frisco says active listings are important to watch. “When those numbers start to tick up, that’s when we know the market is starting to correct itself.”
The average number of days on market was 24, down 3 from February. Sellers got what they were asking for with their homes. The sold price vs. list price ratio was 100.4%. That’s up from February’s 98.8% and last March’s 98.7%.
If you need expert help in buying or selling your home, contact Mark and his team at 443-486-5145.
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