The Long & Foster Market Minute

Focus On: Wicomico County Housing Market May 2020

Units Sold
88
Active Inventory
242
Median Sale Price
$192,500
Days On Market
69
Down -21%
Vs. Year Ago
Down -41%
Vs. Year Ago
Up 9%
Vs. Year Ago
Down -5%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 88 sold this month in Wicomico County Real Estate versus 81 last month, an increase of 9%. This month's total units sold was lower than at this time last year, a decrease of 21% versus May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 169 units or 41%. The total number of active inventory this May was 242 compared to 411 in May 2019. This month's total of 242 is lower than the previous month's total supply of available inventory of 298, a decrease of 19%.

Median Sale Price
Last May, the median sale price for Wicomico County Homes was $176,250. This May, the median sale price was approximately the same at $192,500. The current median sold price is 9% higher than in May 2019.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
132
Current Contracts
161
Sold Vs. List Price
98.2%
Months of Supply
2.8
Down -23%
Vs. Year Ago
Up 45%
Vs. Year Ago
No Change
Vs. Year Ago
Down -25%
Vs. Year Ago

Months of Supply
In May, there was 2.8 months of supply available in Wicomico County, compared to 3.7 in May 2019. That is a decrease of 25% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 132 homes newly listed for sale in Wicomico County compared to 172 in May 2019, a decrease of 23%. There were 161 current contracts pending sale this May compared to 111 a year ago. The number of current contracts is 45% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Wicomico County was 98.2% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 69, lower than the average last year, which was 73, a decrease of 5%.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.