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Southern Maryland’s Housing Market Slows Down As Prices Continue To Rise – The Southern Maryland Chronicle

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Southern Maryland’s Housing Market Slows Down As Prices Continue To Rise – The Southern Maryland Chronicle


HUGHESVILLE, Md. –– As the tip of summer time approaches, the Southern Maryland housing market has proven refined indicators of slowing exercise, although costs have continued to extend.

By way of essentially the most lately collected knowledge from the Southern Maryland Affiliation of Realtors®, it may be noticed that the stock of properties within the area just isn’t shifting as they had been on the similar time final yr.

Credit score: Southern Maryland Affiliation of Realtors®

The entire variety of items offered throughout July was down roughly 27.93%, with the whole greenback quantity down 20.24%, for a complete of $63 million lower than 2021.

Extra proof of those adjustments could be seen by the numerous variety of lively listings within the area. Lively listings are up almost 44.46% from 2021, creating stock ranges that haven’t been seen since earlier than the beginning of the COVID-19 pandemic.

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This alteration means excellent news for patrons, as they are going to have extra choices when it comes time to make a purchase order. There has additionally been a slight improve in how lengthy properties are staying in the marketplace, up someday from the identical time in 2021 for a complete common of 14 days. These patterns are inclined to create extra leverage for patrons throughout negotiations.

That extra leverage is seen as the typical offered worth to unique listing worth ratio has dropped from 101.8% in 2021 to now 100.6%. This lower implies that properties which might be promoting are much less prone to see a number of supply eventualities pushing costs increased and that sellers are compromising with patrons extra typically.

“Whereas rising rates of interest could also be impacting a purchaser’s buy energy, that energy nonetheless exists and needs to be utilized,” SMAR 2021-2022 President Gregg Kantak stated. “Typically, residence costs hardly ever transfer backward and have by no means moved backward in response to increased mortgage charges. Moreover, for some buyer-savers, rising rates of interest may very well be a internet optimistic, as they typically push up financial savings charges.”

Nonetheless, whereas the whole months of stock that’s accessible have elevated from dangerously unhealthy ranges over the previous few years, it’s nonetheless largely thought of a vendor’s market.

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Extra proof of this may be seen as amid financial uncertainty over the previous a number of months, actual property has remained a thriving funding with residence costs in our area seeing giant will increase in comparison with 2021. The median offered worth of a house in Southern Maryland has gained roughly 11.81% from the identical time final yr.

“Regardless of a unbroken ‘sellers’ market,’ a Survey of Client Funds, launched in September of 2020 by the Federal Reserve, discovered the median U.S. family internet price is $121,700. Nonetheless, the distinction between the online price of householders versus renters is staggering,” Kantak stated. “In 2019, householders within the U.S. had a median internet price of $255,000, whereas renters had a internet price of simply $6,300…a distinction of 40x between the 2 teams. Rates of interest and stock apart, everybody who can improve their internet price ought to accomplish that, and actual property is one of the best instance.”

Housing market statistics from every county within the Southern Maryland area could be discovered beneath:

Calvert County

  • Models Offered: 146 (-35.11%)
  • Complete Gross sales Quantity: $ 73,255,973 (-26.38%)
  • Common Days On The Market: 14 (-3 Days from July 2021)
  • Median Offered Value: $472,500 (+22.50%)

Charles County

  • Models Offered: 236 (-29.76%)
  • Complete Gross sales Quantity: $ 104,488,168 (-24.51%)
  • Common Days On The Market: 12 (+1 Day from July 2021)
  • Median Offered Value: $422,500 (+6.96%)

St. Mary’s County

  • Models Offered: 165 (-16.67%)
  • Complete Gross sales Quantity: $ 72,590,591 (-4.40%)
  • Common Days On The Market: 16 (+2 Days from July 2021)
  • Median Offered Value: $405,000 (+12.50%)

Go to https://www.southernmarylandrealtors.org/pages/housing-statistics/ each month for extra particulars concerning the housing market in Southern Maryland.

Statistics for this text had been compiled with cooperation from Shiny MLS, a number one housing market knowledge supply and an actual property itemizing service for Realtors® all through the area.

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Biden-Harris Administration awards $18.6M grant to Maryland for EV charging infrastructure

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Biden-Harris Administration awards .6M grant to Maryland for EV charging infrastructure



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BALTIMORE – The Biden-Harris Administration announced an $18.6 million grant to Maryland on Friday to expand zero-emission EV charging and fueling infrastructure. 

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The grant is part of President Biden’s effort to build 500,000 publicly available EV chargers by 2030, a goal that may be on track to be achieved earlier than expected.

“The Biden Administration has made historic investments to support the EV transition and make sure it’s made in America,” said U.S. Transportation Secretary Pete Buttigieg. 
“These investments will help states and communities build out a network of EV chargers in the coming years so that one day, finding a charge on a road trip will be as easy as filling up at a gas station.”

As of Friday, there were more than 206,000 publicly available EV charging ports, with 38,000 new public chargers initiated in 2024.

“Thanks to the Biden-Harris Administration’s efforts, we now have over 200,000 publicly available chargers nationwide and hundreds of new manufacturing facilities across 40 states, creating jobs and economic growth. Today’s awards bring us one step closer to a cleaner transportation future.”  

The new fueling stations will be built on the I-81 and I-78 corridors across  Maryland, Pennsylvania, New Jersey, and West Virginia.

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“This funding showcases the harmony in government efforts to maximize federal investments and will build on the Department of Energy’s work to develop the 21st-century energy workforce and prepare the grid to power zero-emission fueling infrastructure nationwide,” said Jeff Marootian, Principal Deputy Assistant Secretary for the Office of Energy Efficiency and Renewable Energy. “The new charging and refueling locations will deliver more accessible and equitable transportation options, create good-paying new jobs, and open up opportunities for innovation in communities across America.”

To learn more about President Biden’s Bipartisan Infrastructure Law and investments in electric vehicles, click here.



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Reporter reacts to Jets ‘head scratching’ move of interviewing Maryland HC Mike Locksley

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Reporter reacts to Jets ‘head scratching’ move of interviewing Maryland HC Mike Locksley


The New York Jets made one of the more surprising moves when they announced they had completed an interview with Maryland head coach Mike Locksley. The offensive-minded coach just ended the 2024 season going 4-8 and Locksley has a 33-41 record while coaching the Terps.

The Jets aren’t leaving any stone unturned when it comes to finding their next head coach. But The Athletic’s Bruce Feldman and Zach Rosenblatt can’t come to terms as to why New York would interview Locksley. With far more college coaches who have had more success than Locksley, why the under-.500 coach?

“Yet, this one feels like a head-scratcher — if the Jets were going to interview a college candidate, my reporting had indicated there might be some mutual interest in Iowa State coach Matt Campbell, who rejected an interview request from the Jets in 2019 before they hired Adam Gase. That has yet to happen, though it’s still possible it could — especially since Campbell is already expected to interview for the Bears opening.

“It feels like a long shot that the Jets would seriously consider Locksley to be their next coach, considering he has no NFL coaching experience and Maryland has been inconsistent under his watch. But perhaps there’s an outside chance he’d be interested in joining the Jets as an offensive coordinator when they eventually hire a head coach.”

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It’s quite unlikely that the Jets hire Locksley away from Mayland. But if anything, it shows that teams are impressed with how the former Alabama offensive coordinator has run his program at Maryland. Playing in the Big Ten with powerhouses like Michigan, Ohio State, Penn State, and now Oregon, is no easy feat for a program like Maryland that can’t quite recruit at the same level.

– Enjoy more Maryland coverage on Maryland Terrapins On SI –





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Takeaways from Maryland men’s basketball’s 79-61 win over No. 22 UCLA

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Takeaways from Maryland men’s basketball’s 79-61 win over No. 22 UCLA


Searching for its first ranked win of the 2024-25 campaign, Maryland men’s basketball had the opportunity to erase its demons from a dismal 87-60 loss against UCLA at home in 2022.

The Terps did just that, cranking up the intensity in the second half against the No. 22 Bruins to prevail at Xfinity Center, 79-61.

Here are three takeaways from the game.

Ja’Kobi Gillespie’s first-half effort was spectacular

The reason Maryland led UCLA at the half — let alone was in the game — was because Ja’Kobi Gillespie took it upon himself to propel the Terps’ offense.

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Gillespie had an overall pedestrian West Coast road trip, scoring a season-low one point against Washington before notching 16 against No. 9 Oregon. But the ever-aggressive guard matched his scoring output against the Ducks at home versus UCLA — in just 20 minutes of play.

Gillespie was once again Maryland’s primary ball handler, and assumed much of the shot-making duties in the opening half. He had 10 attempts from the field, double that of the next closest player, Derik Queen. While the Terps were keen on trying to find their bigs for buckets inside early — they had 20 paint points in the first half compared to the Bruins’ 14 — eventually, the visitors put an emphasis on their interior defense.

Gillespie was the main benefactor, becoming increasingly ball-dominant and continuously running pick-and-rolls at the top of the 3-point line. When UCLA rolled out its drop coverage in an attempt to stifle Maryland’s inside attack, Gillespie let it fly from deep. He went 4-of-8 from downtown on the evening.

His defensive impact was also evident. Gillespie accumulated four steals on the night, including two in the second half to help Maryland pull away with quick fast-break points.

The 6-foot-1 junior had an overall quieter second half, but grabbed a huge offensive rebound and drilled a 3-pointer in succession with four minutes remaining, effectively throwing the knockout punch. He finished with a game-high 27 points to go with two rebounds and four assists.

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Maryland’s defense turned it up in the second half

Maryland’s offense was by no means on fire in the second half. It picked up its scoring effort in the latter minutes, but it scored just 20 points in the first 15 minutes of the frame. It was the Terps’ defense that helped shut down any hope of a UCLA victory.

In the middle portion of the frame, the Bruins went more than four minutes without scoring a field goal, missing seven consecutive field goals. That wasn’t a product of poor offense, but rather the Terps’ airtight coverage.

For a team averaging just around 11 turnovers per game, Friday was a complete nightmare for the Bruins, who committed 21 — 10 of which came in the second half. The Terps turned those 10 turnovers into 12 points of their own.

Maryland also had six second-half steals and four blocks, while UCLA had no second-half rejections. One of the Terps’ blocks was an emphatic Julian Reese swat on Bruins star Tyler Bilodeau, sending the crowd into a frenzy and injecting the team with life.

One of the reasons for Maryland’s increased defensive presence was head coach Kevin Willard’s insertion of interior size. Tafara Gapare played an impressive 14 minutes, blocking two shots of his own and helping force UCLA into perimeter shots. The Bruins went 7-of-19 from downtown on the night.

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A much-needed ranked victory

Heading into the match, Maryland was No. 24 in the KenPom net rankings. It has been teetering on the precipice of being ranked for the past few weeks. But it has also been missing something important in its resume: a signature ranked win.

It came close against then-No. 15 Marquette, then-No. 8 Purdue and then-No. 9 Oregon, but late miscues and missed chances plagued the Terps in each contest.

It didn’t take a close finish to decide Maryland’s fate Friday. The home Terps had the game in hand during most of the latter portion of the second half.

It wasn’t just Maryland’s defense that propelled it to a sizable lead. It was partially due to UCLA head coach Mick Cronin being ejected from the game, granting the Terps four free throws and igniting the crowd.

Reese also helped Maryland pull away, scoring 10 second half points on 5-of-6 shooting. As of recent, he has put on far more prolific performances than he had been early in the season.

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Friday night was Maryland’s first ranked win since Jan. 14, 2024, when it beat No. 14 Illinois. The Terps will have another opportunity to defeat a ranked Fighting Illini team — currently No. 13 — on Jan. 23.



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