Home prices continued to climb during the fourth quarter in Calvert County according to the Southern Maryland Association of REALTORS® (SMAR). Average sales prices grew by 4.5 percent compared to the same time in 2017. Median sale price also saw a slight gain of 1.6 percent during the fourth quarter. Pending units saw a 13.7 percent decrease will active inventory increased by 1 percent. Months of available inventory climbed to 4.15 months, a 6.3 percent increase over 2017. A 6 month to 6.5 month supply is considered to be a balanced market.
“Average price, months of active inventory and available inventory all continued their climb during the fourth quarter,” said SMAR President Judy Szynborski.
Monthly housing statistics for Calvert County are compiled by data as reported by Bright MLS. For the purposes of this report, “units” are defined as the closed sales and “pending units” are properties under contract. Months of inventory are based on the current active inventory and monthly sales for the corresponding month.
Calvert County is part of the Southern Maryland Association of REALTORS®, which is an affiliate of the Maryland REALTORS® and National Association of REALTORS®. We are proud to serve our members and our community and work to ensure professionalism in the industry. Our volunteers and staff work to offer services to real estate professionals and to provide avenues for our members to become more successful. We proudly work to promote and protect homeownership and private property rights.