Welcome to March's Market Update. Lets take a look at residential real-estate activity in your area during the month of February. The number of active listings was down 30% from one year earlier, and did not change from the previous month. These latest figures mean that buyers had a more limited selection of homes to choose from compared to the same month the previous year. As you can see, the median listing price for the month was just over 520-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 100%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just under 400-thousand dollars. The number of units sold increased 100% year-over-year, and decreased 33% month-over-month. Higher year-over-year figures indicate that more buyers have been finding what they're looking for. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
Show Transcript
Map Information for Solomons, MD
Area Information for Solomons, MD
Population:2,843
Median Age:52.62 yr
Median Commute Time:27 mins
Educational Climate*:4
Sales Tax:0%
Population Density:1,428/sq mi
Population Change Since 2000:41.63%
Closest Airport:Ronald Reagan Washington Ntl
Closest College:Saint Marys College Of Maryland
Closest Jr. College:Rappahannock Community College-warsaw
Median Household Income:$105,721
Annual Residential Turnover:0%
Median Home Sales Price:$369,000
Closest Major Sports Team:Bowie Baysox (aa)
Change Avg. Household Income Since 2000:99.34%
* Scale from 1-5 ** Index where 100 is the national average
Demographic Data for Solomons, MD
Median Age: 52.62Married: 50%Number of Households: 1,435Households with Children: 206
Community:
Occupancy Types
3599Vacant
8822Owned
12512Rented
Transportation to Work
43%Drive
47%Public Transportation
8%Walk / Bike / Other
8%Work at Home
National Index Comparisons:
(100 National Average)
Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area.