August 26, 2013 Weekly Market Report

New Listings in Salisbury MD and Wicomico County

Twenty new listings came on the market last week in Salisbury and Wicomico County, with an average list price of $160,500.

Under Contract in Salisbury MD and Wicomico County

Last week eighteen residential properties went pending in Wicomico County. The average time on market before going under contract was 6.0 months. The average list price of these properties was $194,600. Four homes were on the market fewer than 30 days.

Sold Listings in Salisbury MD and Wicomico County

Five homes sold last week in Salisbury and Wicomico County with an average sales price of $117,200. The average time on market was 5.1 months and they sold for 94% of the list price. Currently, there are nearly 590 active residential listings in the county, which includes single family, townhomes, condos, and duplexes. Short sales and foreclosures make up 22% of available residential properties. Mortgage rates were around 4.75% on a 30 year fixed loan, the highest level since May.

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

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