The Calvert County MD Real Estate Supply and Demand Quarterly Report for June 2019 is shown below. Let’s review the data to ascertain how it affects pricing your home or purchasing a home in Calvert County MD located in Southern Maryland.
Here’s a list of terms compiled by GetSmartCharts.com to use with the data obtained from BrightMLS. The chart below is a Quarterly Report for Supply and Demand in Calvert County MD.
The months of supply is the only missing metric offered. It vacillates just above and just below 4 months which means the Calvert County MD Real Estate Supply and Demand Quarterly Report is teetering toward more of a Seller’s Market each quarter. The chart is easier to read for the other five variables with this Metric removed.
The red bar shows the Contract Ratio for Q3 2018 thru Q2 2019. It rises from .33 to .35 to .56 the last two Quarters. This means that, since a higher contract ratio signifies a relative increase in contracts compared to supply, the market is moving in the Seller’s favor. A lower Contract ratio represents a relative decrease in contracts compared to supply or that the market is moving in the Buyer’s favor. In light of a Spring Market, this makes perfect sense.
The absorption rate for new pendings is purple and the absorption rate for closed sales is green in the chart below. The new pendings raised from .76 to .77 to .96 to 1.12. The absorption rate based on new pendings is the rate homes go to contract in the most recent month relative to the number of active listings at the end of the month. These Calvert County MD Real Estate Supply and Demand data points are critical to both pricing a home or purchasing a home.
Furthermore, the absorption rate for closed sales teetered from .77 to .73 to .66 to .86. To clarify, the absorption rate for closed sales is the rate at which homes are closing an an area in a given time period. The higher the absorption rate, the faster homes are selling relative to the supply. Simply, an absorption rate above 20% is considered a Seller’s Market since it translates, based on a single months sales rate, into 5 months of supply. The absorption rates on new pendings are generally higher due to the 1-2 month lag between closing and the concept that not all pendings close.
The gold bar or the New Pending to New Listing Ratio moved between .74 to .83 to .82 to .73. To explain, read this as “there were x contracts written per new listing this quarter.” So the higher the ratio, the more interest and activity per buyer relative to potential sellers.
Finally, the Seller Success Ratio, or the aqua bar, changed from .84 to .85 to .88 to .86 in the four Quarters displayed. In summation, this is a positive spin on the opposite data set of “Contract Fallout Rate.” Another way to see this data set is that of all the listings that have transitioned from pending status to a successful close, this percentage successfully closed. Looks like the 15% number is the fallout figure range this past year, or roughly 85% is the Seller Success Ratio.
Overall, Calvert County MD Real Estate Supply and Demand looks like a Good Seller’s Market the last couple of Quarters 2019!
You’ll Retrieve Golden Results with Cheryl Ritchie, RE/MAX Leading Edge, for all your Calvert County MD and Anne Arundel County MD Real Estate Services. Call or EMail GoldenGirl@GoldenResults.com 301-980-7566 to schedule a personalized PRICE WORKOUT to review the market value of your Calvert County or Anne Arundel County MD home!
8203 ELM LANE, CHESAPEAKE BEACH, MD
Waterview LOT located at end of Elm Lane adjacent to Creek and walking distance to the Chesapeake Bay! This level lot is adjacent to a second and separately deeded lot on Elm for an additional $10,000. SOLD AS IS. NO Permits. Check Zoning Use. Title Exam performed early May 2018. Agent is Related. CASH/Proof of CASH. AS IS ! Adjacent lot # MDCA169664 is also $10,000. Both are listed under Residential MLS # MDCA169642 and # MDCA169646. See Addendum in View Docs. Call Town/County for Hook Up Fees, Impact Fees etc. Go and Show! Text or Email L/A if showing!
8207 ELM LANE, CHESAPEAKE BEACH, MD
Waterview LOT located at end of Elm Lane adjacent to Creek and walking distance to the Chesapeake Bay! This level lot is adjacent to a second and separately deeded lot on Elm for an additional $10,000. SOLD AS IS. NO Permits. Check Zoning Use. Title Exam performed early May 2018. Agent is Related. CASH/Proof of CASH. AS IS! Adjacent lot # MDCA169642 is also $10,000. Both are listed under Commerical MLS# MDCA169664 and # MDCA169662. See Addendum in View Docs. Check with Town/County for Hookup and Impact Fee Costs etc. Go and Show! Text or Email L/A if showing property.
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