A Week In Business – February 9, 2018

January Market Recap

OCEAN CITY — Despite January’s frigid temperatures, local real estate activity remained steady, according to the latest numbers from the Coastal Association of REALTORS® (CAR).

The first month of 2018 saw an overall 12.9 percent jump in single family home and condominium contracts compared to the same time last year in Somerset, Wicomico, and Worcester counties. Individually, single family home contracts increased by 35.4 percent in Wicomico County, but decreased by 1.6 percent in Worcester and by 6.7 percent in Somerset. Condominium contracts increased by 7.4 percent in Worcester County and by 200 percent in Somerset County, but decreased by 33.3 percent in Wicomico.

Settlements were up overall by 0.5 percent in the tri-county area. Individually, single family home settlements increased by 88.9 percent in Somerset, but decreased by five percent in Worcester and by 11.9 percent in Wicomico. Condominium settlements were up by 66.7 percent in Wicomico and by 200 percent in Somerset, but were down by 5.8 percent in Worcester.

Inventory saw a slight dip in January, with the entire area seeing an overall 2.7 percent decrease in listings. Individually, single family home listings were up by 11.7 percent in Wicomico, remained the same in Somerset, and decreased by 14.3 percent in Worcester. Condominium listings were up by 66.7 percent in Wicomico and by 100 percent in Somerset, but were down by 9.5 percent in Worcester.

Days on market was up overall by 22.8 percent. Listing prices were up by 8.6 percent and sale prices were up by 10 percent.

“It’s good to see that January’s frigid temperatures and wintry conditions didn’t impact the market too much,” said CAR President Joel Maher. “We’re definitely seeing more of a demand on the Lower Eastern Shore. Hopefully our inventory numbers will begin to pick up again so local buyers are able to find the home that meets their wants and needs.”


General Manager Named

LEWES — Mark Woodruff, president and CEO of Atlantic Millwork & Cabinetry, and Richard Reed, co-owner, recently named M.L. Jenkins as general manager for the company, which sells and installs building supplies on Delmarva. The company has been in business for more than 25 years with a showroom and warehouse in Lewes, across from Nassau Valley Vineyards, between Routes 9 and 1.

Biz A

M.L. Jenkins

“M.L., head of our kitchen department, has been with us for 15 years and has been promoted to general manager,” said Woodruff. “We were looking to promote from within the company. M.L. was an easy choice, his tenure here has allowed him to develop relationships with all of our employees and many of our customers. He knows our culture and has been a part of creating it.  He is dedicated, hardworking, knowledgeable, and has the personable characteristics we were looking for.  He is well respected by our employees and our customers.  He has been a leader here for a while we just gave him the title to go with it.”

In his new role, Jenkins will oversee the general process of the company day in and day out including, customer service issues, hiring and firing, quality control, product management, and more.

“Atlantic Millwork & Cabinetry’s ideals, values, and work culture are among the many attractive reasons to work for this company,” said Jenkins. “I am looking forward to implementing process and training that will help our staff become experts in their fields and give them the tools they need to increase sales with great customer service.”


Training Program Announced

OCEAN CITY — Berkshire Hathaway Home Services PenFed Realty has announced  it’s offering Buffini & Company’s revolutionary new training program, Peak Producers, with classes beginning on Feb. 19.

Developed by industry expert Brian Buffini and top producer Joe Niego, this 12-week course is specifically designed to help real estate professionals develop the habits, attitude and skills they need to serve buyers and sellers at a deeper level and build a fundamentally sound business by successfully executing the roles of CEO, COO and CFO of their own businesses.

Facilitated by Sales Manager Jay Wise, Peak Producers training is delivered through a series of DVD’s featuring Buffini, who teaches participants the principles, strategies and how-to’s they need to succeed in any market.  In addition to the video content, classroom time is devoted to group discussion of best ideas, synergy sessions, practicing crucial sales skills and receiving encouragement and accountability.


New Agents Join Office

OCEAN PINES – Berkshire Hathaway HomeServices PenFed Realty has announced the affiliation of three new agents with the Ocean Pines office.

According to branch manager Sharon Curtiss, the new additions are Associate Broker Edie Brennan, Sandy Dougan and Taryn Walterhoefer.