A Week In Business – June 4, 2021

Home Prices Still Rising As Inventory Remains Low

BERLIN — Home prices continue to rise and buyers continue to have bidding wars on homes and offer above asking price. Inventory is still at historic lows and with interest rates still very appealing, causing no shortage of buyers.

Because inventory is low, home prices continue to rise. The median home price in April was $285,00, which is up from $275,255 in March and up $35,000 from April of 2020. There are currently 471 active listings in the lower three counties compared to 1,329 in April 2020.

In all three counties throughout April, new settlements were up 57.3% compared to the same time last year. Individually, new settlements throughout April were up by 53.2% in Wicomico, 56.3% in Worcester, and 93.3% in Somerset.

New listings in April were up 118% compared to the same time last year in all three counties. Individually, new listings were up by 140.7% in Worcester, 95.3% in Wicomico and 66.7% in Somerset from April of 2020.

Worcester Preparatory School Virtual Tour

Active listings in all three counties were down by 64.6%. Individually, there were 267 active listings in Worcester, 141 in Wicomico, and 63 in Somerset. We had 1,329 active listings at this time last year.

The average Cumulative Days on Market (CDOM) for April was 44, or 54.6% less than the same time last year. Over the last five years, the average DOM was 88 for April.

“The question that everyone is asking is how do we get more listings to satisfy all of these buyers,” said CAR President Joni Martin Williamson. “The answer is creativity and nimbleness, which is not easy to accomplish when it comes to creating housing. We need to be looking at zoning, incentives, and other tools to create new housing in our area before we lose prospective buyers to other markets.”

Williamson added, “Right now some of the homes that are being sold used to be rentals and although it is good to have the listings for sale I am worried about the rental market and the affordable housing market. The market is so tight we have sellers who sell their home and can’t find a new home to buy or even rent. People are staying put because of fear of not finding a new place to live.”

CAR’s monthly local housing statistics are pulled from the Bright Multiple Listing Service, which represents the activity of over 1,000 local REALTORS® in Somerset, Wicomico, and Worcester counties, as well as 95,000 real estate professionals across the Mid-Atlantic region. The Bright MLS service area includes Maryland, Delaware, New Jersey, Pennsylvania, Virginia, Washington, D.C., and West Virginia.

x

New Leader Appointed

SALISBURY — The Richard A. Henson Foundation (RAHF) Board of Trustees has announced the appointment of Stacey Bayline McMichael as the next executive director of the

Biz A McMichael

Stacey B. McMichael

foundation.

McMichael comes to the Foundation with nine years of experience working with local nonprofits including TidalHealth Foundation and United Way of the Lower Eastern Shore, and over 20 years of small business ownership and management.

McMichael has lived on the Eastern Shore for more than 40 years and has worked closely with community leaders to develop strategies and resources to impact local vulnerable populations. She attended James M. Bennett Senior High and graduated from the University of Maryland College Park with a bachelor’s degree from the college of Behavioral and Social Sciences. She currently resides in Delmar with her husband Phil, daughter Maddy and son Devlin.

“I am both humbled and honored to lead the Richard A. Henson Foundation into the next phase,” McMichael said. “Mr. Henson was an incredibly generous leader in our community, and I hope to continue to lead the organization by his philanthropic ideology: elevating education, youth leadership and entrepreneurial development, promoting excellence, providing for vulnerable populations, and encouraging others to give of their time, talent and resources to improve the quality of life for all our citizens.”

After a several-month vetting process, Board representative Tom Evans stated, “We believe we have found exactly the right person to fill the executive director position. Stacey is a dynamic individual and brings the right combination of nonprofit experience and business acumen that we were looking for to succeed Donna. Her energy and passion for helping others aligns perfectly with Mr. Henson’s giving philosophy. The Trustees are looking forward to working with her.”

Current Executive Director Donna Altvater will be retiring in June. She was hired personally by Henson in 1999 and became close with him quickly, even taking on the role of personal advocate and care coordinator in his last years. She participated in the vetting process for her replacement.

“It has been my honor to serve as executive director of the Henson Foundation for almost 22 years,” Altvater said. “With Stacey’s extensive nonprofit experience, knowledge of the community, and strong work ethic, I believe she will elevate the Henson Foundation to exciting new levels. I look forward to watching it happen.”

Current RAHF Chairman Greg Olinde said, “Donna has been such an amazing leader for our organization. Her commitment to Mr. Henson’s legacy has been unwavering. She has been a sounding board for our trustees and community partners alike. We have a unique trustee profile, and Donna successfully built and maintained great individual long-term relationships with each one of us. She has managed the Greater Salisbury Building with immense pride and we are so thankful to have had the opportunity to work with her. We wish her the very best in her retirement.”

x

Operations Director Named

Biz B Temple

Jack Temple

REHOBOTH BEACH — Scott Kammerer, president of SoDel Concepts, announced the promotion of Jack Temple to director of operations for the hospitality company, which has 12 restaurants in coastal Sussex County, Del. and another under construction in Fenwick Island.

Temple was previously the general manager of Bluecoast Seafood Grill + Raw Bar in Rehoboth Beach, and he’s also been the general manager of Matt’s Fish Camp in Lewes.

“Jack has been an integral part of our team since he joined SoDel Concepts in 2015 when he moved to the beach,” Kammerer said. “He was the right choice to help open Matt’s Fish Camp in 2016, and he’s the right choice for director of operations. His’s proven his leadership abilities over and over.”

Temple grew up in Columbia, Md. and attended Towson University, where he majored in political science. He cut his teeth in the hospitality industry at two Atwater’s restaurants in Baltimore, where he worked for nine years. He helped open one of the company’s locations.

x

Wound Care Recognized

SALISBURY — TidalHealth Peninsula Regional Wound & Hyperbaric providers, leaders and clinicians were honored for the third consecutive year with the Center of Distinction Award, which was presented to TidalHealth Peninsula Regional Wound & Hyperbaric by Healogics, the nation’s largest provider of advanced wound care services.

The center achieved outstanding clinical outcomes for 12 consecutive months, including patient satisfaction higher than 92 percent and a minimum wound healing rate of at least 92 percent within 28 median days to heal. There were 555 Centers eligible for the Center of Distinction award and 278 achieved the honor.

“TidalHealth is pleased to offer exceptional wound care services to the community we serve. It is an honor to accept this national Center of Distinction Award on behalf of the dedicated wound care professionals at TidalHealth Peninsula Regional Wound & Hyperbaric,” said Cindy Lunsford, Executive Vice President and COO, TidalHealth.

TidalHealth Peninsula Regional Wound & Hyperbaric is a member of the Healogics network of over 600 Wound Care Centers® and offers highly specialized wound care to patients suffering from diabetic foot ulcers, pressure ulcers, infections and other chronic wounds that have not healed in a reasonable amount of time.

Advanced wound care modalities provided by our wound care experts include negative pressure wound therapy, total contact casting, bio-engineered tissues, biosynthetic dressings and growth factor therapies. TidalHealth Wound & Hyperbaric also offers hyperbaric oxygen therapy, which works by surrounding the patient with 100 percent oxygen to help progress the healing of the wound.

“Achieving Center of Distinction status is especially important because it means the entire staff is working together as a team to deliver the best evidenced based and most current treatment for individuals with chronic wounds. I am especially proud of the team for their dedication to excellence. Without their dedication, we could not have achieved these results for our community of patients,” added Beth Reid, Program Director, TidalHealth Wound & Hyperbaric. “Patients seeking advanced wound care for chronic wounds can feel confident when receiving treatment at either of our TidalHealth Wound & Hyperbaric locations. Our team of dedicated providers, clinicians and office staff, strive for excellence in healing chronic wounds. It is an honor to be part of such a great team where healing patients is our passion.”