May 5, 2014 Weekly Market Report

New Listings in Salisbury MD and Wicomico County

Twenty-nine new listings came on the market last week in Salisbury and Wicomico County with an average list price of $170,700.

Under Contract in Salisbury MD and Wicomico County

Last week twenty-seven properties went under contract in Wicomico County. The average time on market before going pending was 5.8 months. The average list price of these properties was $153,100. Five homes were on the market fewer than 30 days.

Sold Listings in Salisbury MD and Wicomico County

Twenty-three homes sold last week in Salisbury and Wicomico County with an average sales price of $134,400. The average time on market was only 3.1 months and they sold for 92% of the list price.

Home Inventory in Salisbury MD and Wicomico County

Currently, there are nearly 530 active residential listings in the county, which includes single family, townhomes, condos, and duplexes. Short sales and foreclosures make up 15% of available residential properties. Mortgage rates were around 4.25% on a 30 year fixed loan.

To receive the Weekly Market Report, 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

Leave a Reply

Your email address will not be published. Required fields are marked *