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| Focus On: Wicomico County Housing Market | October 2023 | ||
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| Units Sold 81 |
Active Inventory 182 |
Median Sale Price $255,000 |
Days On Market 29 |
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| Down -16% Vs. Year Ago |
Up 3% Vs. Year Ago |
Up 4% Vs. Year Ago |
Down -3% Vs. Year Ago |
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Units Sold
There was an increase in total units sold in October, with 81 sold this month in Wicomico County Real Estate versus 76 last month, an increase of 7%. This month's total units sold was lower than at this time last year, a decrease of 16% versus October 2022. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 5 units or 3%. The total number of active inventory this October was 182 compared to 177 in October 2022. This month's total of 182 is higher than the previous month's total supply of available inventory of 172, an increase of 6%. |
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Median Sale Price
Last October, the median sale price for Wicomico County Homes was $245,000. This October, the median sale price was $255,000, an increase of 4% or $10,000 compared to last year. The current median sold price is 3% lower 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 105 |
Current Contracts 84 |
Sold Vs. List Price 99.2% |
Months of Supply 2.2 |
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| Up 1% Vs. Year Ago |
Down -11% Vs. Year Ago |
No Change Vs. Year Ago |
Up 22% Vs. Year Ago |
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Months of Supply
In October, there was 2.2 months of supply available in Wicomico County, compared to 1.8 in October 2022. That is an increase of 22% 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 105 homes newly listed for sale in Wicomico County compared to 104 in October 2022, an increase of 1%. There were 84 current contracts pending sale this October compared to 94 a year ago. The number of current contracts is 11% lower than last October. |
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Sale Price to List Price Ratio
In October, the average sale price in Wicomico County was 99.2% 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 29, lower than the average last year, which was 30, a decrease of 3%. | |||
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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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