Salisbury MD Real Estate Sales Report for September 2023

September 2023 Salisbury MD Home Sales Statistics

In September 2023, the median single-family home sales price in the Salisbury MD area real estate market was $264,000. This was up 6% from the median sales price last September. There were72 home sales, down 40% for the same month last year.

The average time on market was 1.2 months, up from 22 days in August 2022.

Currently, there are 1.9 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

September home sales for Wicomico County came in at their lowest for the month since 2012. Record high home prices, mortgage rates at a high for the year, and continued low inventory have taken their toll on local homebuyers.  The seasonal component is again a factor now that the market has normalized. The typical fall slowdown is upon us once again. This also played a role in the fall of 2022 but was previously last evident in 2019.

Conclusions for Home Sellers in Wicomico County

September 2023 Salisbury MD Real Estate Outlook

Our September projection for Wicomico County home sales came in lower than expected. We believe October will look similar, both in pricing and units closed to the tune of around 70-75 units. Next week we’ll publish the Q3 Housing Report.

*Based on information from the Coastal Association of Realtors^® for the period 9/1/23 through 9/30/23

Information compiled by Vision Realty Group is deemed to be reliable but is not guaranteed. © BRIGHT MLS Copyright 2023