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Friday, February 12, 2016

January 2016 Salisbury MD Home Sales Report

In January 2015, the median single family home sales price in Salisbury Maryland and Wicomico County was $129,600, down 10% from the median sales price last January. There were 46 home sales, down 18% from last January.

The average time on market was 3.5 months compared to 4.2 months for home sales in the Salisbury MD area last January.

Currently, there are 10.7 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.

Homes Sold in Wicomico County January 2016

Conclusions for Salisbury MD Area Home Buyers

Salisbury MD area home buyers started the New Year facing low inventory, which is typical of the season and uncertainty with mortgage rates. Interest rates actually declined towards month’s end, showing us that December’s Fed action was taken in stride by the markets and aided by the worst start in the Dow’s history.

Even with low single family home inventory in Wicomico County (around 450 units), the slower sales pace pushed the months of supply up considerably. With such a small data sample, this is inconsequential. A significant portion of January home sales were foreclosures and short sales, pulling the median price down.

Conclusions for Home Sellers in the Salisbury MD Area

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6 comments:

Anonymous said...

my house was appraised at $450K 5 years ago.

Same house is now worth $250K.

good thing i didn't take the bait.

Anonymous said...

And new construction in Sussex Co De. very strong. Any ideas Democrats?

Anonymous said...

I like the bs sheriff I'm sure he has a lot to report on.

Anonymous said...

puff piece and another lie. sellers are dropping their prices daily and there is a glut of properties on the market.

Anonymous said...

I like how they casually admit their data is "inconsequential"

Anonymous said...

No good jobs here anymore .People have lost it all and caught up in the weekly rent grind.Salisbury has become a hub for pawn shops and used tire dealers.