Q1 2025 Sales Report- Salisbury MD Real Estate

Q1 2025 Housing Statistics      

For the period of January 1 through March 31 in Wicomico County, there were 198 settlements on single family housing units, down 9% from Q1 of 2024.  

The median sales price was $284,000, up 9% over the same period.  

Foreclosure and short sale properties accounted for 4% of single-family home sales in the first quarter of 2025. This was unchanged from the same period in 2024. *

Takeaways for Salisbury MD Area Home Buyers

The headwinds of high home prices and mortgage rates in the mid 6% range meant a sluggish start to 2025 for home sales in Wicomico County. Q1 home sales in the Salisbury MD area posted their lowest total since 2016. The downward trajectory of mortgage rates mentioned in the March Sales Report  lasted around 72 hours before spiking back to where they started.

Trump Administration trade policies have introduced significant volatility into both the stock and bond markets, which should ease by month’s end. Listing inventory has consistently been around three months of supply and average days on market around 60, meaning home sellers are becoming more flexible when negotiating terms with the reduced number of buyers currently in the market.

Takeaways for Salisbury MD Area Home Sellers

If it wasn’t for a solid January, Q1 home sales in the Salisbury MD area would’ve looked much uglier as it’s quite rare for January sales to outpace both February and March. Q2 could be a bumpy ride for homeowners looking to sell this spring if their pricing strategy and home marketing isn’t dialed in.

The reality of today’s housing market in Wicomico County is longer days on market and fewer showings than many current and would-be sellers may be anticipating. This is fueled by payment sensitive, skittish buyers who’ve been beaten up by record home prices and inflation induced mortgage rates for nearly three years. We can’t say it often enough- “2021 is ancient history”.

What Lies Ahead for the Wicomico County Real Estate Market?

Our Q1 projection for Salisbury MD area home sales was off by double digits as any relief for mortgage rates never materialized. Upheaval in the financial markets means volatility for mortgage rates. Inflation is showing signs of abating, but until rates are consistently in the high 5%-low 6% range, more of the same should be expected for the Wicomico County housing market. All that said, we’re projecting around 275 units to close by the end of June, with prices steady.

*Based on information from the Coastal Association of Realtors^® for the period 1/1/25 through 3/31/25

Information compiled by Vision Realty Group is deemed to be reliable but is not guaranteed. © BRIGHT MLS Copyright 2025