March 2015 Salisbury MD Home Sales Statistics
In March 2015, the median single family home sales price in Salisbury Maryland and Wicomico County was $157,000, up 40% from the median sales price last March. There were 71 home sales, an increase of 37% from last March.
The average time on market was 3.6 months compared to 4.4 months for home sales in the Salisbury MD area last March.
Currently, there are 6.3 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
The “pent up demand” predicted in February’s Sales Report definitely came to pass. Buyers shrugged off the winter blues and dived headlong into an increasingly strong Salisbury MD area housing market.
With mortgage rates touching near 18 month lows and improving weather, the buyers were out in force. Inventory is tight and demand is increasing, so buyers are experiencing homes with multiple offers on them with regularity.
Conclusions for Home Sellers in the Salisbury MD Area
Home sellers in the Salisbury MD area real estate market have reason to be encouraged, both with the increase in sales and the increase in median sales price. Those just placing their homes on the market are in a good position to meet buyer demand.
As always, accurate pricing remains the key to selling a home in a reasonable time frame. We offer a no obligation, unbiased market evaluation for your home to be the most competitive it can be along with neighborhood sold reports.
Outlook for April 2015 in Salisbury MD Real Estate
After a dismal jobs report for March, stocks slipped and this helped lower mortgage rates to very attractive levels. Buyers secure in their employment can confidently move ahead in their home search and take advantage of excellent rates and an improving market with home values apparently on the increase.
The most recent Weekly Market Report suggests April 2015 will be a very strong month for home sales in the Salisbury Maryland real estate market. We’ll be here to provide the most comprehensive sales and market data available for our area.
Information compiled by Kennington Realty Inc. is deemed to be reliable, but is not guaranteed © 2015 MLS and FBS