January 27, 2014 Weekly Market Report

New Listings in Salisbury MD and Wicomico County

Only ten new listings came on the market last week in Salisbury and Wicomico County, likely as a result of the severe weather. These new listings have an average list price of $165,600.

Under Contract in Salisbury MD and Wicomico County

Last week ten properties went under contract in Wicomico County. The average time on market before going pending was 3.5 months. The average list price of these properties was $200,600.

Sold Listings in Salisbury MD and Wicomico County

Four homes sold last week in Salisbury and Wicomico County with an average sales price of $115,000. The average time on market was 11 months and they sold for 93% of the list price. Currently, there are nearly 510 active residential listings in the county, which includes single family, townhomes, condos, and duplexes. This marks the lowest inventory we’ve seen since first producing the Weekly Market Report beginning in late 2008. Short sales and foreclosures make up 22% of available residential properties. Mortgage rates were steady at around 4.5% 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 © 2014 MLS and FBS

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