September 23, 2013 Weekly Market Report

New Listings in Salisbury MD and Wicomico County

Seventeen new listings came on the market last week in Salisbury and Wicomico County, with an average list price of $204,000.

Under Contract in Salisbury MD and Wicomico County

Last week twenty-five residential properties went under pending in Wicomico County. The average time on market before going under contract was 8.7 months. The average list price of these properties was $171,100. Seven homes were on the market fewer than 30 days.

Sold Listings in Salisbury MD and Wicomico County

Eleven homes sold last week in Salisbury and Wicomico County with an average sales price of $165,700. The average time on market was 3.8 months and they sold for 96% of the list price. Currently, there are nearly 580 active residential listings in the county, which includes single family, townhomes, condos, and duplexes. Short sales and foreclosures make up 21% of available residential properties. After last week’s Fed meeting, mortgage rates dropped on news the planned taper of bond purchases would be put on hold. Rates were around 4.5% on 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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