As of June 30, there were 378 settlements on residential housing units in Wicomico
County in 2013, up 25% from this time last year. The median sales price was $140,000, unchanged over the same period along with a 14% reduction in inventory. Foreclosed and short sale properties have accounted for 26% of residential sales, down from 35% over the same period in 2012.
On the national level, many housing markets are seeing an apparent recovery as consumer sentiment improved and buyers jumped off the fence in the spring selling season, taking advantage of near record low mortgage rates.
Continued slow economic growth and persistently high unemployment, along with the Federal Reserve’s recent announcement of its scaling back of bond purchases are major factors in shaping the rest of the year in the housing markets.
Information compiled by Kennington Realty Inc. is deemed to be reliable, but is not guaranteed © 2013 MLS and FBS