There’s no other way to say it—2020 and the first part of 2021 have been a wild ride. The incredible pandemic-fueled real estate boom has created a truly unprecedented seller’s market, especially for buyers looking for a piece of the Eastern Shore good life. First homes or second homes, waterfront or historic district, buyers are using the money they would have spent on vacations, weddings, and other big ticket items to finance their Chesapeake dream home.

Fueled by low interest rates on mortgages and the famously peaceful waterfront vistas of Kent and Queen Anne’s Counties, inventory has been snapped up, dropping in Kent from 163 active units in June 2020 to 80 units in June 2021. Queen Anne’s followed suit in the same period, declining from 325 active units to 133. At the same time, according to mdrealtor.org, the average sales price of a Kent County home in June increased by 40% from 2020, while the days on market went from 53 to 11. In Queen Anne’s, average sales price increased as well by nearly 9% and days on market dropped from 41 to 7.

In this climate of multiple offers and limited inventory, many buyers are willing to go the extra mile to ensure their offer is accepted. Currently 30% of my buyers are paying in cash, especially those seeking a secondary or vacation home. But with some properties receiving multiple cash offers, buyers are doing anything they can to additionally get a leg up—waiving inspections or arranging for cash appraisals.

From the buyer’s side, this can all seem terribly discouraging. But I always remind my clients that patience is key. Whether you’re looking for your first home, wanting to build your dream house or looking to turn the profit from a recent home sale into your “move up” opportunity, I’ve got a few examples that might give you heart.

Jeremy and Alex’s new home in Chester River Beach.

Jeremy & Alex

This couple found their first home in the water-oriented community of Chester River Beach. After missing out on two other homes, they proved that the third time was the charm, ending up with a larger house on a sizable lot. Why did it work out this time? It boiled down to the terms: they were willing to allow the seller to find his home of choice.

Brandy and Kyle’s new home, bought with all their wished-for amenities in a wonderful neighborhood after an epic search.

Brandy & Kyle

This pair was notified that their landlord was selling their rental townhouse—and they had just six weeks to find a new home somewhere between Easton and Rock Hall. A whirlwind two days of touring led them to a newly-constructed home in Queen Anne’s County, but it did not appraise. Rather than panic, I started searching again. I found them a home with a larger yard, in a great neighborhood, that already had a fenced in yard—perfect for their pup, shed, and screened in porch (all things they would have had to pay for out of pocket post-purchase to add to the new construction house). All this for $10K less price-wise! It might be a cliche, but everything does happen for a reason.

Myles, Amy & Avery

This family has a close connection—Myles is my nephew, and Amy and Avery are his wife and daughter. Both Myles and Amy have been primarily working from home since the pandemic started, and they figured now was the best time to move back home to the Eastern Shore. They missed out on two houses, though neither was truly the perfect fit. By networking with my colleague, John, we were connected with a lead on a home in Shorewood Estates. John and I were able to get them in early to see the home, and to finesse the situation when the sellers initially got cold feet about moving. Ultimately, Myles and Amy were able to go under contract on their prize—a very well-maintained, oversized Cape Cod-style house on 2 acres in a water-oriented community on the Sassafras River. They’ve got a community slip for their boat, and the new house is near Rt 301, allowing them to easily commute on the days when meetings call them back into the office.

The moral of the story is, even in a competitive market, with persistence, timing, and flexibility, the right agent can help you find your dream home. Although it is a seller’s market, once you’ve been handed the keys to your farm, waterfront oasis or in-town cottage, the work you put into finding just the right place won’t matter. You’ll just be happy to be in your very own Chesapeake home.