Housing Market Recap
BERLIN — For the third consecutive month, contracts or pending sales are up on the Lower Eastern Shore, according to the latest figures from the Coastal Association of REALTORS® (CAR).
Above is a summary of the housing market statistics for May courtesy of the Coastal Association of Realtors. Submitted Photo
May 2016 showed an overall 16.8-percent increase in contracts in Somerset, Wicomico, and Worcester counties, compared to the same time last year. Individually, contracts for single-family home sales increased by 27.5 percent in Worcester County, by 9.1 percent in Wicomico County, and remained steady in Somerset County.
Settlements were down by 9 percent in May, compared to the same time last year. Inventory was down by 8 percent and listing and sales prices were down by 4 percent and 2.6 percent, respectively.
Overall, days-on-market increased by 2.5 percent. However, days-on-market for Worcester County’s single-family homes and condominiums decreased by 18.6 percent and 7.6 percent, respectively, indicating increased movement of units in the resort area.
Decreased inventory is a trend being reported not only across the state of Maryland, but also across the country. In the Maryland Association of REALTORS® April 2016 housing report, President Bonnie Casper said the state’s spring market has been brisk, but inventory is not keeping up with demand. Lawrence Yun, chief economist with the National Association of REALTORS®, has repeatedly reported this year that decreased inventory numbers across the country are driving up prices and squeezing some buyers out of the market.
However, with prices down on Maryland’s Lower Eastern Shore, as well as a mortgage rate that has remained below 4 percent in 16 of the past 17 months, now is the ideal time to buy.
“We don’t know how much longer those mortgage rates will stay low,” said CAR President Linda Moran. “If you’re on the fence about buying, it’s time to jump. Contact a local REALTOR® who can help you find the perfect home that fits in your budget and meets all of your needs and expectations.”
CAR’s monthly local housing statistics are pulled from the association’s Multiple Listing Service, which represents the activity of over 1,000 local REALTORS® in Somerset, Wicomico and Worcester counties.
Leading Agents Announced
Debbie Bennington
Michael Rutledge
Sharyn O’Hare
Mickey Lobb
BERLIN — Berkshire Hathaway HomeServices PenFed Realty-Ocean Pines Office recently recognized its top real estate agents for April and May,
PenFed Realty’s Ocean Pines Office had a record month in settled volume with over $11 million in sales for the month of May.
“The real estate market has been robust for our Ocean Pines sales agents,” said Sharon Curtiss, branch manager.
The office is consistently ranked as the No. 1 brokerage in sales volume for the Ocean Pines market and is currently ranked seventh year-to-date in the entire MLS for 2016.
April award winners included top settled volume, Mickey Lobb; top listing volume, Michael Rutledge; and top contracts volume, Michael Rutledge.
For May, top awards were top settled volume, Michael Rutledge; top listing volume, Debbie Bennington; and top contracts volume, Sharyn O’Hare Team.
Sales Awards Presented
OCEAN CITY — Mark, Lora and Grant Fritschle of Condominium Realty, LTD recently presented over 50 awards to their sales associates and staff for their contributions to help make 2015 a record breaking year for the company.
The awards to the Sales Associates were for having achieved sales volumes from over $15 million to over $1 million. Staff awards were to recognize the important part that the staff plays in making the company and each of the award winning associates successful.
Excellence in service awards were presented to Terry Littleton, Samantha Pielstick, Karin Hanback, Ryan Evans, Joanna Bunting, Rebecca Harwell and Jessica George.
The team spirit award was presented to Wayne Phillips.
Sales associates achieving breaking production were Sheri Smith, Joy Snyder, Dave Whittington, Kevin Decker, Wayne Phillips, Grant Fritschle, Jon Barker, Annie Buxbaum, Christina Ager, Tina Dorsey, Kathy Panco, Joe Wilson, Sharon Daughtery, Rich DiFilippo, Brenda Archer-Nichols, Tracy Zell, Leslie Smith, Celeste Dodson, Mitchell David, Jim Terrill, Bill Barr, Ed Wehnert, Mia McCarthy, Kevin Burton, Joan C. Montgomery, Kim Lucido-McCabe, Troy Doyle, Katherine Wright Payne, Bob Hammond, Suzanne Jones, Ben Dawson, Bill Harte, Courtney Wright, Bud Cumberland, Kim Collins, Sarah DelliGatti, Hazel Haney, Clint Bickford, Eric Cropper, Jim Bacco, Bill Kelly, Bob Miller and Bob Nellis
Shore Office Manager Named
BERLIN — Long & Foster Real Estate, the No. 1 privately owned residential real estate company in the country, has named Cindy Ariosa as the new senior vice president and regional manager of its Eastern Shore locations.
Cindy Ariosa
Ariosa currently serves as the SVP and regional manager of Long & Foster’s Baltimore and Western Maryland region, a role she’s held for over 15 years. Going forward, Ariosa will take on regional management of the company’s offices in Cambridge, Denton, Easton, Kent Island, Ocean City, Salisbury and St. Michaels, in addition to her current responsibilities.
“I’m excited to assume a leadership role in our Eastern Shore offices and help bring together Long & Foster’s metropolitan Maryland markets with its coastal communities,” said Ariosa. “In addition, the Eastern Shore has been my home away from home for many years. Not only have I owned a house in Ocean City for over a decade, but also my family has been part of the community since the 1950s.”
Ariosa’s family built the Golden Bull, a restaurant location that now houses The Bonfire, a popular Ocean City attraction. They also have owned properties in the Ocean City area for over six decades.
In her newly expanded role at Long & Foster, Ariosa oversees more than 40 offices throughout the Baltimore area, in western Maryland and along the Eastern Shore. She is responsible for the regions’ operations and finances, including all budgets, and she leads the area’s recruitment efforts, as well as mergers and acquisitions. Under her leadership, the firm has ranked among the top in Maryland, most recently being named as the Baltimore area’s No. 1 firm by the Baltimore Business Journal. She hopes to bring similar achievements to the brokerage along the Eastern Shore.
“Our business in Baltimore and along the Eastern Shore has increased significantly the past couple years, and as we looked toward the future, we recognized an opportunity to even better support these growing markets,” said Gary Scott, president of Long & Foster Real Estate. “With Cindy leading our offices from Baltimore to the Chesapeake Bay, we can strengthen our coastal connection and make it even easier for our coastal and urban agents to work together in helping their clients achieve their real estate goals.”
Agent Opens Office
SALISBURY — Pamela Price, born and raised in Delmar, has announced the opening of her own REMAX Office, REMAX Coast and Country.
Price has always been a huge supporter of her hometown and local community so for her the location of her office was number one on her priority list. Currently, she is a member of the Delmar Library Steering Committee, she is on the Board of the Delmar Education Foundation, she is a member of the Delmar Chamber of Commerce, and she is a Lifetime Member of the Delmar VFW. In addition to these great causes, she also provides an annual Educational Scholarship to a Delmar High School senior, she provides sponsorships to the Delmar Little League, she adopts several families over the Holiday Season to provide meals, clothing, and toys, she donates to several local charities and fundraisers and she organizes monthly Random Acts of Kindness outings in the local community.
A grand opening is scheduled for this Saturday, June 11, from 6-8 p.m. at her office featuring food, give-a-ways, and tethered hot air balloon rides. The office is located at 38613 Benro Drive, Unit 5, in Delmar.
New Team Member
BERLIN — EXIT Realty At The Beach in Ocean Pines announced the addition of Tim Halligan to its team of real estate professionals.
“We’re excited to welcome Tim to EXIT Realty At The Beach,” said Bernie Flax, broker/owner of EXIT Realty At The Beach. “EXIT Realty At The Beach is growing and attracting quality business people like Tim each and every day.”
Halligan brings with him 10-plus years of resort and residential real estate knowledge and expertise.
Church Property Sold
SALISBURY — SVN|Miller Commercial Real Estate advisors John McClellan and Will Moore recently sold Northpointe Tabernacle on Dixon Road in Salisbury.
The 8,000-square-foot building is situated on nine acres and located just outside of subdivision and golf course Nutters Crossing. After only a few months on market, the property sold to Harvest Baptist Church, represented by Mike Dunn of Keller Williams Realty.
Harvest Baptist Church moved quickly to occupy the new space and held its first service on Sunday, June 5.
“In our market, church buildings can be extremely hard to sell,” said McClellan. “Will and I had the pleasure of working with a realistic owner who was offering a high-quality building, and we were able to attract many prospects before ultimately selling the building to Harvest Baptist Church.”