In Calvert County, the average price of homes on the market in the 3rd quarter of 2007 was $411,900. In the 4th quarter it dropped slightly to $399,200. It is expected to rise in this upcoming 2008 quarter.
The number of homes on the market went from 1,381 in the 3rd quarter of 2007 to 1,315 in the 4th quarter. We expect that this upcoming quarter will show the number of homes to be between those two numbers.
However, the number of homes sold dropped in Calvert County from 237 in the 3rd quarter of 2007 to 197 in the 4th quarter. We expect it to drop this upcoming year, yielding a larger inventory of homes.
The number of new homes built dropped from 65 to 44 last year, and we expect it to drop this year as well. There are still plenty of lots available from builders for sale, the market for new homes has just dropped.
In 2007, the average days on the market increased an average of 9 days. We expect the number of days to increase this year, again, giving us a larger inventory of homes for sale.
Most Calvert County towns received between 85-125% of their original asking price! It may take longer to find that perfect buyer, but sellers in this county are still seeing sizable profits on the whole from the sale of their home.
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