Despite a dip in homes sales in September, the residential home sales rose during the third quarter in St. Mary’s County according to the Southern Maryland Association of REALTORS® (SMAR). With increases of 6.49 and 37.24 percent in July and August, the average rate of growth in home sales increased by 9.8 percent for the third quarter. Average and median prices grew by 1.2 and 1.5 percent respectively as compared to the same time in 2017.
“With the exception of the drop in September, we are pleased with the level of activity in home sales in the third quarter,” said SMAR President Judy Szynborski. “Prices had a slight increase in August and September“ she added. Szynborski went on to note, “pending units or homes that are under contract but not settled were also up slightly by 1.1 percent.”
Monthly housing statistics for St. Mary’s County are compiled by data as reported by Bright/ MRIS. 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.
St. Mary’s 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.