In August 2014, the median single family home sales price in Salisbury Maryland and Wicomico County was $155,750,nearly unchanged from the median sales price last August.
There were 74 home sales, up 17% from last August. The average time on market was 5.6 months compared to 3.7 months for home sales in the Salisbury MD area last August.
Currently, there are 6.6 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 Salisbury MD area real estate market remains balanced. While single family home inventory is at its highest level for the year, buyer demand has kept pace.
One factor that has increased days on market recently is the turnaround time for the widely used USDA Rural Housing loans is now pushing 90 days, where previously it was half that.
Last month produced the second highest number of single family homes sales since June of 2010, eclipsed only by July of this year. Interest rates remain low and home buyers firm in their employment status can move ahead with confidence.
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