June 3, 2013 Weekly Market Report

New Listings in Salisbury MD and Wicomico County

Eighteen new listings came on the market this past week in Salisbury and Wicomico County, with an average list price of $234,200.

Under Contract in Salisbury MD and Wicomico County

Last week sixteen residential properties went pending in Wicomico County. The average time on market before going under contract was 5.3 months. The average list price of these properties was $170,000. Seven homes were on the market fewer than 30 days.

Sold Listings in Salisbury MD and Wicomico County

Twelve homes sold last week in Salisbury and Wicomico County. The average time on market was 6.9 months and sold for an average of 96% of the list price. Currently, there are nearly 620 active residential listings within the county, which includes single family, townhomes, condos and duplexes. Foreclosures and short sales make up 21% of the available properties. After a recent Fed meeting and release of several economic reports, mortgage rates jumped to near 4.00% for a 30 year fixed loan.

Information compiled by Kennington Realty Inc. is deemed to be reliable, but is not guaranteed © 2013 MLS and FBS

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