Our newest editions on the real estate market here in Calvert County bring new data and changes worth reviewing:

June Highlights-

• Homes are selling faster than recent months have reported.  On average, a house is on the market for about a month less than before, which is a pleasant decrease in the waiting period for sellers.
• The average listing price of a home is back under $300,000.00 like it was in previous months.  The last time we saw over $300,000.00 for a home listing was back in January.  It is definitely a buyer’s market right now.
• The number of homes sold are holding steady since last month at a little over 100 homes this month.  This is significant as this is only the second time home sales have broken 100 in a year.

Some noticeable differences in our July report below:

• There was a drop in sales from June to July with 57 total homes sold.  The decrease in sales could be due to summer vacations and busy summer schedules. Hopefully things will pick back up next month.
• Great news!   On average this report, homes were on the market less than 100 days, giving confidence to homeowners selling their properties.
• The “sold price” for homes is back over $300,000.00 after decreasing last month to around $274,000.00.  Let’s hope this trend continues for sellers in our county!

Chesapeake Beach has become a very popular location in Calvert County.  There are many opportunities to enjoy an entire day with friends and family.   Not only does the town provide The Chesapeake Beach Water Park, Brownie’s Beach and Boardwalk and numerous dining options highlight the town. The recently built Chesapeake Beach Resort and Spa offers visitors a upscale venue for dining and relaxing. Both Kaine Homes’ Rockwell community and the Builtrite Homes’ San Francisco by the Bay community take advantage of all these local amenities.

Rockwell, will feature 8 townhomes with an entire floor being dedicated to the master suite.  Not only are the 2,400 square foot homes spacious but the backyards are truly oversized as well. To learn more about these townehomes go to our “Communities” tab and click on Rockwell.

Calvert County Housing Market Trends Through May 2010

In this third issue of The State of Calvert County Real Estate, let’s discuss the activity and trends we’ve been seeing over the last couple of months. The chart below presents a lot of data but shows a few points worth noting:

• The month of May saw a dramatic increase in sales compared to months prior.  Sales were double what we saw in February and March.
• The seller contribution to closing costs has remained consistent, around $6,000.00.  Sellers, be prepared to assist your buyer in this market.
• On a positive note, there has been an increase in the sales price of homes.  Sales prices have hit over $300,000.00 for the first time since January 2010.

Calvert County Housing Market Trends Through April 2010

In this second issue of The State of Calvert County Real Estate, lets discuss the activity and trends we’ve been seeing over the last couple months. The chart below, presents a lot of data, but tells a few key stories. Some noteworthy points are:

• There was a significant drop in sales during February and March, most likely due to all of the snow, but in April home sales began to slowly return to the steady totals of late 2009.
• Closing cost assistance rates are remaining consistant.  If you are selling your home, be prepared to offer closing assistance to the buyer.
• On average, homes in Calvert County are on the market 95-120 days before seliing.

As CFO of Kaine Homes, I didn’t really have the opportunity to interact with our customers up until the last year when the entire Kaine Team started taking turns covering our model home on the weekends when Melissa was off.  I also didn’t realize how much I would enjoy introducing our homes to potential buyers and the thrill I would get when one of my initial contacts became a new Kaine Homeowner.  That thrill was superseded this past Friday when I had the privilege of not only being the one who made the initial contact with a wonderful young couple several months ago, but also took part in their settlement, and witnessed the excitement as they prepared to move into their “dream home.”   I am a little embarrassed to admit I was almost moved to tears when this couple thanked me for making them realize the time was right for their new home purchase.  They are getting married this April and will now be starting their new life in the home of their dreams. 

A dream I can’t help but feel a little bit a part of. 

Christine Hysan

• While not a perfect trend, homes do appear to be selling quicker in the last 90 days.
• If you’re selling a home, expect to offer your buyers some closing cost assistance to make the deal happen.
• Homes are selling for about 80-90% of their tax assessed value, indicating tax bills in Calvert County may be getting more affordable in the near future.

Calvert County Real Estate Report -January 2010

See you next month.

Both Calvert County home builders are pleased with combined sales of almost 40 homes in the last 13 months in  the College Station community. An convenient Prince Frederick location combined with exceptionally affordable prices from the mid $300’s has attracted many first time homebuyers as well as folks purchasing their second homes. Both Kaine Homes and Marrick Homes feature furnished model homes and design centers and are open seven days a week.

Thanks to Eileen Jenkins, EMT and Trainer, we learned valuable emergency first aid skills including CPR. For example, to stop a nose-bleed, you hold your head down and squeeze your nostrils. Many thought the correct procedure was to tilt your head backwards (blood then drains down your throat – a no-no). Here’s another – 90% of bleeds can be stopped by applying consistent pressure. Eileen, you did a great job putting up with our not-always-on-task group.

Thanks, so much.

All of us at Kaine Homes

For those of us whose constantly monitor the housing market, we’re ever watchful for what we hope will be the bottom of this Great Recession. Why are we looking so hard? Because no recovery can start until most of  the lights are off. The bottom will give us a new foundation upon which the economy and the housing market can rebuild.  Thankfully, all real estate markets are local.  We’re very grateful that we’re in the Washington Metro market which is still supporting strong job growth. Many areas of the country (FL, AZ, NV, CA) still have considerable bleeding left before they reach the bottom. 

In a recent report by Mark Zandi, chief economist of Moody’s Economy.com, noted that prices in the Washington Metro market would decline by about 6% but rebound next year by more than 4%.  Another report by Hanley Wood Market Intelligence places the DC area in the top 10 real estate markets in the country.

Speaking in very local terms, our Calvert County market seems to be sprouting some “green shoots” of stabilization.  In fact, our home and lot prices have started to rise in the last few months. This hasn’t happened for over two years. Be on the lookout for Melissa’s upcoming blog post where she’ll do an in depth analysis of our local sales activity.

So just maybe what I see rising under my feet is the bottom. Let’s hope.

Brooke