Salisbury MD Real Estate Sales Report for August 2021
August 2021 Salisbury MD Home Sales Statistics
In August 2021, the median single family home sales price in the Salisbury MD area real estate market was $235,000. This was up 27% from the median sales price last August.
Currently, there are 1.2 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
Not only did home sales set a new record for August, but prices reached an all-time high. Housing demand has soared since the economy began to reopen in Q3 of 2020 with few signs of letting up. A recent dip in interest rates reinvigorated many Wicomico County home buyers who thought they had “missed the boat” on near record low interest rates. Competition remains fierce with a scant five weeks of available homes in the Salisbury MD area real estate market.
Conclusions for Home Sellers in Wicomico County
Wicomico County home sellers remain in the driver’s seat in the local housing market. It’s likely some homeowners have put their plans to sell on hold until next spring, reflecting seasonal trends. For those committed to this year, the supply demand/equation has pushed prices well above previous levels. Selling a home in the fall is still a different animal versus the traditional time of spring and summer.
September 2021 Salisbury MD Real Estate Outlook
August home sales handily beat our projection by about 20 units. With the pace of new inventory tailing off a bit in recent weeks, September should produce 115- 120 units closed by month’s end. That said, topping the record set for the month in August 2020 may be a stretch.
*Based on information from the Coastal Association of Realtors® for the period 8/1/21 through 8/31/21
Information compiled by Vision Realty Group is deemed to be reliable, but is not guaranteed. © BRIGHT MLS Copyright 2021