Salisbury MD Real Estate Sales Report for November 2024

November 2024 Salisbury MD Home Sales Statistics

In November 2024, the median single family home sales price in the Salisbury MD area real estate market was $268,000, up 7% from the median sales price last November. There were 90 home sales, down 1% from the same month last year.                             

The average time on market was 1.4 months, up from 26 days in November 2023.  Currently, there are 2.5 months of supply of homes in Wicomico County. * This is determined by the number of homes available divided by the number of homes sold the previous month.

Homes Sold in Wicomico County November 2024

Conclusions for Wicomico County Home Buyers

Mortgage rates have trended down over the last few weeks, which is good news for Wicomico County homebuyers. There are plenty of indications that home prices will rise again in 2025, so buyers who purchase now likely have an advantage over those who wait. Factors influencing current buyer behavior were covered in detail last month. It’s worth noting that home inventory remains near a several year high, suggesting that any significant home price appreciation may occur well into next year.

Conclusions for Home Sellers in Wicomico County

Since the election, buyer activity has picked up noticeably in the Salisbury MD area. Savvy homeowners planning to sell next year will focus heavily on an accurate list price and considering the economic realities today’s buyer is facing. Our goal as veteran listing agents is to seek the “sweet spot” in guiding home sellers on pricing to be within market expectations while not giving away hard earned equity. Contact us for a no sales, no hype and completely confidential conversation about our pricing strategy, the value of your home, and details on our 45-Step Home Marketing Plan.

December 2024 Salisbury MD Real Estate Outlook

November home sales proved stronger than anticipated. December will likely take a step back, with around 75 units expected to close before the ball drops on New Year’s Eve. This would be in line with December of 2022 and 2023. We wish you each a Merry Christmas and prosperous 2025!

*Based on information from the Coastal Association of Realtors^® for the period 11/1/24 through 11/30/24

Information compiled by Vision Realty Group is deemed to be reliable, but is not guaranteed. © BRIGHT MLS Copyright 2024