December 23, 2013 Weekly Market Report

New Listings in Salisbury MD and Wicomico County

Fifteen new listings came on the market last week in Salisbury and Wicomico County, with an average list price of $164,600.

Under Contract in Salisbury MD and Wicomico County

Last week eleven residential properties went under contract in Wicomico County. The average time on market before going pending was 3.8 months. The average list price of these properties was $170,800.

Sold Listings in Salisbury MD and Wicomico County

Twelve homes sold last week in Salisbury and Wicomico County with an average sales price of $174,100. The average time on market was 6.3 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 22% of available residential properties. Mortgage rates were nearly unchanged last week, suggesting the market had already priced in the Fed’s announcement that its purchases of mortgage backed securities would be scaled back beginning in January. Rates were around 4.625% on a 30 year fixed loan.

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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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