Salisbury MD Real Estate Sales Report for December 2024

In December 2024, the median single family home sales price in the Salisbury MD area real estate market was $270,000, up 13% from the median sales price last December. There were 83 home sales, up 14% from the same month last year.                               

The average time on market was 1.7 months, down from 1.9 months in December 2023. Currently, there are 2.3 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.

Conclusions for Wicomico County Home Buyers

Wicomico County home prices are almost certain to rise in 2025 and we discussed at length the advantages for buyers to make their home purchase now versus waiting until later in the year. This predicated on suitable and available inventory and ensuring the monthly payment is affordable with rates hovering in the high 6% range. All indications are for mortgage rates to drop throughout 2025 but any savings for Salisbury MD area home buyers are likely to be eroded by higher prices. We’ll cover our projections for mortgage rates in the upcoming 2024 Year in Review.

Conclusions for Home Sellers in Wicomico County

Salisbury MD area home sellers dealt with rate sensitive and non-committal buyers, longer days on market and fewer showings throughout 2024 but December proved to be a solid month for home sales in Wicomico County. Some sellers had the urgency to close before month’s end for tax purposes while some buyers were facing lease deadlines which resulted in a year-end rush of closings. Last month’s home sales were the highest for December since 2021, suggesting the “frozen" market we’ve experienced since then may be coming to an end.

January 2025 Salisbury MD Real Estate Outlook

December posted a stronger number for Wicomico County home sales than anticipated. January should end up with around 65 home sales in the Salisbury MD area, which would be in line with last January. Stay tuned for the Q4 Housing Report and upcoming 2024 Year in Review where we make our projections for the local housing market in 2025. 

*Based on information from the Coastal Association of Realtors^® for the period 12/1/24 through 12/31/24

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