Housing Market Recap
BERLIN – The official start of the summer season on Maryland’s Lower Eastern Shore saw increased contract starts, according to the latest numbers from the Coastal Association of REALTORS® (CAR).
June 2017 saw a 23.5 percent overall increase in single family home and condominium contract starts compared to the same time last year in Somerset, Wicomico, and Worcester counties. Individually, single family home contracts increased by 21.4 percent in Worcester County, by 11.5 percent in Wicomico County, and by five percent in Somerset County. Condominium contracts increased by 39.4 percent in Worcester County and by 83.3 percent in Wicomico County. Somerset County condominium contracts decreased by 50 percent.
The graphic summarizes real estate activity for the month of June. Submitted Image
Settlements were largely down in the tri-county area by 7.5 percent. Individually, single family home settlements decreased by 13.7 percent in Worcester County and by 13.6 percent in Wicomico County. They remained the same in Somerset County. Condominium settlements decreased by 1.8 percent in Worcester County. They increased by 37.5 percent in Wicomico County and by 200 percent in Somerset County.
Listings were down overall by 5.5 percent. Individually, single family home listings were down by 13.5 percent in Worcester County, by .8 percent in Wicomico County, and by 17.1 percent in Somerset County. Condominium listings were up by 2.9 percent in Worcester County. They were down by 23.1 percent in Wicomico County and by 100 percent in Somerset County.
The days-on-market statistic was up overall by 53 percent. Listing prices were down by 6.6 percent and sale prices were down by 6.5 percent.
“That nice bump in contract starts means our members are busy working with their clients to start the buying process. Those deals should wrap up over the next few months,” said CAR President Don Bailey. “We’re seeing inventory scale back a bit as more and more listings move off the market. Although sale prices were down slightly, it’s still a good time to put your house on the market because people are definitely looking to buy right now.”
Firm Scores Contract
OCEAN CITY — TRGroup, Inc. announced it has officially been awarded a U.S. General Services Administration 8(a) STARS II Government-Wide Acquisitions Contract (GWAC). This contract vehicle vets TRGroup, Inc. as a highly qualified technology solutions contractor to provide Information Technology and Systems Engineering products and services across the entire federal government.
For government agencies and purchasers, the contract’s simplified acquisition process offers a more cost effective and efficient alternative to the time consuming full and open competition bid process.
The scope of the 8(a) STARS II Government-wide Acquisition Contract (GWAC) award is centered on four functional areas, including services such as systems engineering and integration, information security, information assurance, cybersecurity, helpdesk support, virtualization, and many more.
Receiving this contract rounds out the company’s list of set asides and contract vehicles. As a US Small Business Administration 8(a) certified, HUBZone, and SDB (Small Disadvantaged Business) with contract vehicles such as the GSA Schedule 70, Maryland CATS +, and now GSA 8(a) STARS II, TRGroup delivers a specific need in which federal agencies can work with seamlessly.
Founded in 2000, TRGroup is focused on helping businesses and government entities operate more efficiently and securely in today’s marketplace. TRGroup is committed to first-class service and creating innovative solutions for all clients. In addition to commercial consulting, past performance includes work with National Oceanic and Atmospheric Administration (NOAA), Mid-Atlantic Institute for Space and Technology (MIST), Department of Veteran’s Affairs (VA), and the Department of Homeland Security (DHS). TRGroup specializes in security, wireless technologies, network design and management, datacenter operations, and data backup and recovery.
Associate Recognized
OCEAN CITY — Nancy Reither of Coldwell Banker Residential Brokerage was named one of America’s most productive sales associates as a part of REAL Trends America’s Best Real Estate Agents, the newly issued ranking report produced by REAL Trends and sponsored by Zillow Group. She is now a member of the “America’s Best Real Estate Agents” and ranked number 34 for the state of Maryland.
REAL Trends America’s Best Real Estate Agents ranks over 12,600 residential real estate professionals solely based on their excellence in real estate sales during calendar year 2016. All production numbers are independently verified by a third-party in order to ensure accuracy and report integrity.
“This group of highly successful real estate sales agents represents less than one percent of all real estate practitioners in the United States,” said Steve Murray, publisher of REAL Trends America’s Best Real Estate Agents and president of REAL Trends.
To qualify for inclusion, an individual agent must have closed at least 50 transaction sides or $20 million in sales volume in 2016. For real estate agent teams, the minimum is 75 transaction sides or $30 million in closed sales volume. The individuals ranked in America’s Best Real Estate Agents had an average of 73 transaction sides and an average sales volume of almost $37 million.
“The average residential real estate agent in the United States closed 8.6 transactions in 2016 and had less than $1.3 million in sales,” said Murray. “To say that Nancy Reither is an exceptional sales professional is an understatement. To attain this level of sales is truly outstanding.”
Brewery Goes Global
SALISBURY — Evolution Craft Brewing Company has partnered with Five Good Inc. to distribute in Tokyo, Japan and then to the broader
markets of Japan.
“It’s always been a dream of ours to have our product distributed internationally. Our partnership with
Five Good Inc. was a logical fit, as they are industry pioneers in the Japanese craft beer market bringing beer from the US East Coast to Japan,” John Knorr, co-founder of Evolution Craft Brewing.
The import craft beer market in Japan has grown 26% in the last five years, as the demand for better beer has grown exponentially. Currently the majority of American exports in the Japanese market are from west coast breweries. Five Good Inc.’s choice to collaborate with Evolution came after sampling craft beers from all over the east coast. Evolution is one of the first four chosen breweries from Five Good Inc. to distribute in Japan.
Townhome Lots Sold
SALISBURY — SVN/Miller commercial real estate advisors Wesley Cox and Bradley Gillis sold 88 townhome lots within The Villages at Parson’s Lake on Parsons Lake Drive in Salisbury. The 9.12-acre property is located in a private setting off of E. Naylor Mill Road behind the Centre at Salisbury, an 862,000-square-foot regional mall. Gillis was the listing agent and Cox represented the buyer.
The property was originally developed in 2006 as townhomes for purchase by a local builder and developer with approximately one-third of the property completed prior to the downturn in the economy. The property has been sitting idle for over six years until Bradley Gillis listed the property and Wesley Cox secured a buyer. It took 16 months to complete the transaction after going through various approvals to bring the project up to today’s development standards.
The purchaser, Insight Homes, plans to start construction immediately and will offer the first product of its kind on the lower eastern shore. In early 2018 high energy efficient “green” townhomes will be available for rent, saving residents hundreds of dollars a year. Insight Homes is in the top 1% nationwide for energy efficiency and have won multiple national awards for their energy efficient and low cost of living homes.
This is the second property in Wicomico County that Wesley Cox has sold to Insight Homes in 2017. In March, Cox sold 22 lots in Sassafras Meadows to the developer, which will offer new single-family high energy efficient “green” homes for sale below $200,000.
Certification Earned
SALISBURY — Salisbury University’s Patricia R. Guerrieri Academic Commons has earned Leadership in Energy and Environmental Design (LEED) Gold certification from the U.S. Green Building Council.
The announcement follows the building’s receipt of the 2016 Wintergreen Award for Excellence in Green Building in Education from the council’s Maryland chapter earlier this year.
“With a campus just miles from the Chesapeake Bay, we at Salisbury University are keenly aware of the importance of sustainability,” said SU President Janet Dudley-Eshbach. “Publications including The Princeton Review have recognized the University as one of the nation’s ‘greenest’ campuses, and have praised our academic and extra-curricular programs that stress sustainability, SU’s forward-looking ecological policies and the campus’ thoughtfully designed infrastructure. Achieving LEED Gold certification for our newest and most state-of-the-art building is a great honor. We want to continue to lead by example for students and the community when it comes to ‘smart’ growth.”
“This certification continues an era of construction sustainability at Salisbury, an extension of the American College and University Presidents Climate Commitment pledge signed by President Janet Dudley-Eshbach in 2007,” said Eric Berkheimer, SU associate vice president of facilities and capital management. “With the Patricia R. Guerrieri Academic Commons, our team went above and beyond, installing sustainable features that make it unique among buildings on campus.”
At the top of those elements — literally — is a 20,000-square-foot “green roof,” comprised of sedum and other regional low-growing plants, covering much of the surface. They act as a collection and filtration system, absorbing and cleaning rainwater before a system of stone and concrete collectors distributes it back into the ground, significantly reducing runoff. The plant cover also serves as a natural buffer between the roof and sun, providing an interior cooling effect.