July 21, 2014 Weekly Market Report

New Listings in Salisbury MD and Wicomico County

Thirty new listings came on the market last week in Salisbury and Wicomico County with an average list price of $162,500.

Under Contract in Salisbury MD and Wicomico County

Last week twenty-one homes went under contract in Wicomico County. The average time on market before going pending was 1.6 months. The average list price of these properties was $139,800. Nine homes were on the market 30 days or less.

Sold Homes in Salisbury MD and Wicomico County

Twenty homes sold last week in Salisbury and Wicomico County with an average sales price of $181,200. The average time on market was 4.3 months and they sold for 95% of the list price.

Home Inventory in Salisbury MD and Wicomico County

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 15% of available residential properties. Mortgage rates were around 4.25% on a 30 year fixed conventional loan.

July 14-21 Market Analysis

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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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