Salisbury MD Real Estate Sales Report for December 2022

December 2022 Salisbury MD Home Sales Statistics

In December 2022, the median single-family home sales price in the Salisbury MD area real estate market was $215,000. This was down 4% from the median sales price last December. There were 73 home sales, down 46% from the same month last year.

The average time on market was 1.3 months, unchanged from December 2021.

Currently, there are 2.0 months of supply of homes in Wicomico County.* This is determined by how many homes are available divided by how many homes sold the previous month.

Conclusions for Wicomico County Home Buyers

The median home sales price in Wicomico County has declined for the first time since August 2020. Too, December posted the lowest median sales price since June 2021. Total sales for the month came in at their lowest since December 2015. Mortgage rates continue to hover in the upper 6% range for local homebuyers. The good news the easing of home prices many have been waiting for appears to be happening.

Conclusions for Home Sellers in Wicomico County

Salisbury MD area homeowners looking to sell in early 2023 can take comfort in the fact that they have little competition. Current inventory remains stubbornly low at approximately 150 units for sale. That will also change as spring approaches. They’ll need to be cognizant that today’s buyer is now in a position to negotiate more than at this time last year. An accurate list price is the first building block of a successful home sale followed by innovative home marketing. Contact us for a no-pressure, no-hype, and private conversation to discuss details.

January 2023 Salisbury MD Real Estate Outlook

Last month’s home sales in Wicomico County came in a bit lower than anticipated. The more surprising stat was the drastic decline in the median price versus November 2022. Although a single month is a small sample size, we were confident that prices would level off at year’s end. We also expect this will be a trend throughout 2023. Longer-term projections for the local housing market will be covered in the upcoming Q4 Housing Report and 2022 Year in Review over the next two weeks.