November 2014 Home Sales Report

November 2014 Salisbury MD Home Sales Statistics

In November 2014, the median single family home sales price in Salisbury Maryland and Wicomico County was $159,900, down 3% from the median sales price last November.

Salisbury MD real estate

There were 49 home sales, a decrease of 25% from last November. The average time on market was 3.4 months compared to 5.0 months for home sales in the Salisbury MD area last November.

Currently, there are 9.5 months of supply of homes in the Salisbury MD area. This is determined by how many homes are available divided by how many homes sold the previous month.

Conclusions for Salisbury MD Area Home Buyers

Looking at recent months and the past quarter’s home sales numbers in the Salisbury Maryland area, it’s tempting to chalk up the 25% year over year drop as an aberration.

After all, mortgage rates remain near record low levels, and median prices, percentage of distressed properties for sale and overall inventory remain stable.

Prospective home buyers in a solid employment and financial positions can move ahead with confidence and may pick up a home for a great price as we move towards the holidays and into early next year.

 

Conclusions for Home Sellers in the Salisbury MD Area

It’s normal for Salisbury MD home sellers to get a bit anxious this time of year as buyer activity drops off and more people are focused on the holiday season. They can take solace in the fact that the buyers out there typically are very serious as most “tire-kickers” faded away with the end of summer.

Less competition with other home sellers is an advantage as well as we typically see inventory start to ramp up in late winter. It may sound like a broken record, but well priced, ready to show homes are what is going to sell the fastest regardless of the season.

To assist would be sellers considering placing their homes on the market, we offer a no obligation home valuation service  to get your home sold quickly and for top dollar. Since we only work with buyer clients, you can be assured of an unbiased, professional opinion of value since we have no motivation to list your home.

 

Outlook for December 2014 in Salisbury MD Real Estate

The Salisbury MD area housing market typically takes a breather this time of year, but it hardly dies. Weather can always play a factor in home buyer activity and serious buyers remain focused on their next home, staying vigilant for new listings as they become available.

Consumer confidence may pick up as gasoline prices have dropped, leaving consumers with more disposable income. Tensions in the Ukraine and Middle East may also flare up at any time, causing movements in financial and commodity markets, which can impact mortgage rates. We’ll be here to keep you updated on developments in the Salisbury Maryland real estate market.

 

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

 

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