Salisbury MD Real Estate Sales Report for June 2023
June 2023 Salisbury MD Home Sales Statistics
In June 2023, the median single-family home sales price in the Salisbury MD area real estate market was $285,000. This was up 14% from the median sales price last June. There were 96 home sales, down 34% for the same month last year.
The average time on market was 1.2 months, up from 24 days in June 2022.
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
Wicomico County home prices have set a record high in spite of sales being down over 20% year to date. The flip side is June home sales totals were the lowest since 2019. While persistently high mortgage rates above 6% have priced many would-be buyers out of the market, record-low inventory has kept demand strong and pushed up prices.
Conclusions for Home Sellers in Wicomico County
Area homeowners looking to sell continue to enjoy tailwinds in the market. A well-priced home in a desirable location will likely be under contract within a few days and possibly after multiple offers. Contact us for a confidential discussion on the value of your home.
July 2023 Salisbury MD Real Estate Outlook
After nailing our June projection, we’re expecting 80-85 homes to sell in July. Another record for home prices is a possibility. In the next two weeks, we’ll be publishing the Q2 Housing Report and Mid-Year Update.
*Based on information from the Coastal Association of Realtors® for the period 6/1/23 through 6/30/23
Information compiled by Vision Realty Group is deemed to be reliable but is not guaranteed. © BRIGHT MLS Copyright 2023