Berlin, Md. – Existing home sales on the Lower Eastern Shore continue to reflect an upward trend, according to the latest figures from the Coastal Association of REALTORS® (CAR).
CAR’s local housing statistics for June 2015 show settlements of existing homes in the Tri-County area were up 14.5 percent compared to the same month last year. Of particular note is a 55.7 percent increase in single family home settlements in Wicomico County. Worcester County’s single family homes saw a 4.3 percent increase in settlements and Somerset County saw a 12.5 percent increase.
Contracts, or pending sales, were also up, showing an overall 21.1 percent increase compared to the same month last year. Worcester County contracts for single family homes were up 52.6 percent, pointing toward a future increase of settlements.
“More than likely, the nice weather is attracting homebuyers to the beach area and people are finding second homes and vacation homes,” said Vicki Harmon, president of the CAR Board of Directors. “They’ve started the buying process by completing their contracts and are working towards settlement.”
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3 comments:
I would not say remains healthy but rather is no longer on its death bed.
it has a long way to go
What else would they say? That the market is still sucking? That doesn't promote sales...
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