St. Mary's County Home Price Picture Looking Up - While there are many areas of the country where the real estate market continues to struggle, there are positives to be considered in some areas which hopefully can become an expanding trend throughout the country. The September 2010 data confirms a gradual trend toward price improvement for St. Mary's County, MD. Cumulative average sales prices for 2010 were off close to 24% since the peak prices of 2007 and off 7.63% since year end 2009 in April. Data for May through September indicates over 5% improvement since the largest decline(-23.58%) from peak and since April's -7.63% decline from year end 2009. That improvement is also in a consistent range of less than 2% (-18.9 - -20.34% since peak, -2.95 - -4.39% since year end 2009) reflecting stabilization and signs that point to the possibility that improvement can be sustained.
Discussion of how foreclosures will impact the real estate market remain an unknown with speculation abounding. However, with the discussion of how tax credits were or were not a positive for the real estate market, I believe that this data supports a position that in this market - and that is key, markets must be looked at locally - that St. Mary's County/Southern Maryland home prices have shown improvement since the tax credits expired - whether improvement can be sustained remains to be seen.
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