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| Focus On: Talbot County Housing Market | October 2023 | ||
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| Units Sold 44 |
Active Inventory 118 |
Median Sale Price $686,500 |
Days On Market 84 |
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| Down -6% Vs. Year Ago |
Down -17% Vs. Year Ago |
Up Vs. Year Ago |
Up 91% Vs. Year Ago |
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Units Sold
There was an increase in total units sold in October, with 44 sold this month in Talbot County Real Estate versus 42 last month, an increase of 5%. This month's total units sold was lower than at this time last year, a decrease of 6% versus October 2022. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 25 units or 17%. The total number of active inventory this October was 118 compared to 143 in October 2022. This month's total of 118 is lower than the previous month's total supply of available inventory of 135, a decrease of 13%. |
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Median Sale Price
Last October, the median sale price for Talbot County Homes was $469,000. This October, the median sale price was $686,500, an increase of $217,500 compared to last year. The current median sold price is higher than in September. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 49 |
Current Contracts 44 |
Sold Vs. List Price 95.5% |
Months of Supply 2.7 |
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| Down -22% Vs. Year Ago |
Down -6% Vs. Year Ago |
Down -0.9% Vs. Year Ago |
Down -12% Vs. Year Ago |
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Months of Supply
In October, there was 2.7 months of supply available in Talbot County, compared to 3.0 in October 2022. That is a decrease of 12% 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. |
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New Listings & Current Contracts
This month there were 49 homes newly listed for sale in Talbot County compared to 63 in October 2022, a decrease of 22%. There were 44 current contracts pending sale this October compared to 47 a year ago. The number of current contracts is 6% lower than last October. |
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Sale Price to List Price Ratio
In October, the average sale price in Talbot County was 95.5% of the average list price, which is 0.9% lower than at this time last year. Days on Market
This month, the average number of days on market was 84, higher than the average last year, which was 44, an increase of 91%. | |||
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| *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. | |||
 Information 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. |
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