Calvert County Maryland Market Statistics November 2007

Calvert County, much like Southern Maryland, is currently working through downward sales trends and coping with lackluster sales in the real estate market.  Although sales volume is only down by roughly 10% county wide, a look at the bigger picture gives a much better indication of what the local market is actually facing.
Prices are very likely to continue to fall.  If there were 69 homes sold in November, and 996 homes currently on the market, that means that there is an overstock of roughly 14 months.  As long as supply continues to exceed demand to this degree, home values are likely to remain depressed.  Also, note that in the Stat Charts, there were 145 new listings taken in the county this month, over double the volume sold.
Average Days on Market has risen to 146 days, up 28% from last year, and the average sales price in the county is 92% of the listing price.

On final item of note is that conventional financing was by far the most common method of finance.  Although this is not unusual, it is indicative of the popularity of conventional financing rather that FHA or VA loans.

If you have any questions about this information or would like more detail on the current state of the local real estate market, please give me a call or drop me an email!  I’m always happy to help provide sales information and advice.

Calvert County Sales Statistics.pdf