December 16, 2013 Weekly Market Report

New Listings in Salisbury MD and Wicomico County

Sixteen new listings came on the market last week in Salisbury and Wicomico County, with an average list price of $173,800.

Under Contract in Salisbury MD and Wicomico County

Last week fifteen residential properties went under contract in Wicomico County. The average time on market before going pending was 3.6 months. The average list price of these properties was $127,000.

Sold Listings in Salisbury MD and Wicomico County

Eighteen homes sold last week in Salisbury and Wicomico County with an average sales price of $166,300. The average time on market was 4.3 months and they sold for 96% of the list price. Currently, there are nearly 560 active residential listings in the county, which includes single family, townhomes, condos, and duplexes. Short sales and foreclosures make up 23% of available residential properties. Mortgage rates were around 4.5% on a 30 year fixed loan. The results of this week’s Fed meeting will likely affect mortgage rates going into 2014.

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

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