February 3, 2014 Weekly Market Report

New Listings in Salisbury MD and Wicomico County

Fourteen new listings came on the market last week in Salisbury and Wicomico County with an average list price of $202,800.

Under Contract in Salisbury MD and Wicomico County

Last week fifteen properties went under contract in Wicomico County. The average time on market before going pending was 6.6 months. The average list price of these properties was $139,300.

Sold Listings in Salisbury MD and Wicomico County

Eighteen homes sold last week in Salisbury and Wicomico County with an average sales price of $146,200. The average time on market was 4.6 months and they sold for 94% of the list price. Currently, there are nearly 510 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. Mortgage rates were steady at around 4.5% on a 30 year fixed loan. This Friday’s release of the January jobs report may impact rates going into next week.

To receive the Weekly Market Report each week, email Dale King and place “Market Report” in the subject line.

Information compiled by Kennington Realty Inc. is deemed to be reliable, but is not guaranteed © 2014 MLS and FBS

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