2010 St. Mary's County Real Estate Market Year-to-Date Everyone is looking for the St. Mary's County Real Estate Market as well as the real estate market nationally to improve. I keep updated cumulative data for St. Mary's County Real Estate Market each month (obtained from Metropolitan Regional Information Systems, Inc.). This month there are some interesting and positive points to be noted:
- St. Mary's County Real Estate Market AVERAGE MEDIAN SALES PRICE The 2010 monthly average median sales price was higher than the yearly average median sales price in 2009 three out of eight months - June, July and August, with two of those months being after the expiration of the tax credits. At no point in 2009 was the average median sales price higher than the 2008 average median sales price.
- St. Mary's County Real Estate Market AVERAGE SALES PRICE The 2010 monthly average sales price was higher than the yearly average sales price in 2009 in May of 2010. At no pointwas the average sales price higher in 2009 than the yearly average sales price in 2008, with a decline of 9.29%. The slowing decline in average sales prices will be addressed later.
-St. Mary's County Real Estate Market -NUMBER OF SALES The news of a record decline nationally in home sales from June to July of 27% was extremely bad news on top of a real estate market picture that is less than bright. In my opinion, the number of sales stat should looked at more broadly. First of all, the one month decline comes as no surprise with the tax credit ending with sales closed by June 30. An important point to note is the number of units sold the first eight months of 2010 is still 9.93% higher than the first eight months of 2009.
-St. Mary's County Real Estate Market -NUMBER OF CONTRACTS The 27% one month decline is a one month reporting window definitely reflecting a setback that warrants consideration. However the number of contractsin St. Mary's County is still currently up 5.01% for the first eight months of 2010 vs the first eight months o f 2009, which hopefully will result in improving number of sales figures.
-St. Mary's Real Estate Market - PRICE DECLINES HAVE SLOWED No one wants to see further declines in prices. However, it is evident that price declines have slowed - 5.74% lower in 2010(average sales price decline in 2010 through August is 3.05% vs. a 8.79% decline through August in 2009) , 7.21% lower(average median sales price decline in 2010 through August is 2.08% vs. 9.29% through August 2009)
St. Mary's County Real Estate Market is not where it needs to be by any means. However, there are a number of improvements to note in 2010 vs. 2009 which indicate signs of stabilization and improvement - hopefully those positives can be sustained.
Please contact me for local sales data information on St. Mary's County Real Estate -
California, Hollywood, Great Mills, Lexington Park, Leonardtown, Valley Lee, Piney Point, Tall Timbers, St. Mary's City, Saint Inigoes, Ridge, Scotland, Dameron, Mechanicsville, Chaptico, Avenue
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