January 2015 Salisbury MD Home Sales Statistics
In January 2015, the median single family home sales price in Salisbury Maryland and Wicomico County was $143,750, down 2% from the median sales price last January. There were 56 home sales, an increase of 8% over last January.
The average time on market was 4.2 months compared to 5.0 months for home sales in the Salisbury MD area last January.
Currently, there are 7.8 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
Many home buyers in the Salisbury MD area real estate market are enthusiastically searching for their new home and buoyed by improved continued low interest rates, improved consumer confidence and lower prices at the gas pump.
Limited inventory, especially in the $150,000 to low $250,000 range remains a challenge and well priced homes in desirable locations will quickly go under contract. The very similar sales numbers from last January suggest the stable trend we experienced in 2014 is continuing.
Conclusions for Home Sellers in the Salisbury MD Area
Sellers of homes can take advantage of the low inventory buyers are facing and the increased competition among them by pricing their homes accurately and making sure their home is in better condition than those within the same or nearby Salisbury Maryland neighborhoods. We can assist by offering a no obligation market analysis and neighborhood sold reports for your Salisbury MD home.
Outlook for February 2015 in Salisbury MD Real Estate
Weather and mortgage rates will both play key roles for activity in the Salisbury MD area real estate market as we head into February. A few nice days towards the end of the month will spur some sellers to clean up their yards and perform the necessary exterior maintenance to have their Salisbury MD home ready for market this spring.
Volatility in the stock market, mixed economic reports and under-performing economies in the rest of the world and mixed have driven investors to the safety of bonds, driving mortgage rates to near 18 month lows.
Check back frequently for updates as we stay committed to providing the most comprehensive information available in the Salisbury Maryland area real estate market.
Information compiled by Kennington Realty Inc. is deemed to be reliable, but is not guaranteed © 2015 MLS and FBS