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| Focus On: Talbot County Housing Market | February 2023 | ||
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| Units Sold 31 |
Active Inventory 80 |
Median Sale Price $425,000 |
Days On Market 35 |
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| Down Vs. Year Ago |
Up 10% Vs. Year Ago |
Up 18% Vs. Year Ago |
Down -39% Vs. Year Ago |
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Units Sold
With relatively few transactions, there was a decrease in total units sold in February, with 31 sold this month in Talbot County Real Estate. This month's total units sold was lower than at this time last year, a decrease from February 2022. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 7 units or 10%. The total number of active inventory this February was 80 compared to 73 in February 2022. This month's total of 80 is lower than the previous month's total supply of available inventory of 85, a decrease of 6%. |
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Median Sale Price
Last February, the median sale price for Talbot County Homes was $360,000. This February, the median sale price was $425,000, an increase of 18% or $65,000 compared to last year. The current median sold price is 8% lower than in January. 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 45 |
Current Contracts 36 |
Sold Vs. List Price 95.7% |
Months of Supply 2.6 |
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| Down -4% Vs. Year Ago |
Down -32% Vs. Year Ago |
Up 1.7% Vs. Year Ago |
Up 94% Vs. Year Ago |
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Months of Supply
In February, there was 2.6 months of supply available in Talbot County, compared to 1.3 in February 2022. That is an increase of 94% 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 45 homes newly listed for sale in Talbot County compared to 47 in February 2022, a decrease of 4%. There were 36 current contracts pending sale this February compared to 53 a year ago. The number of current contracts is 32% lower than last February. |
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Sale Price to List Price Ratio
In February, the average sale price in Talbot County was 95.7% of the average list price, which is 1.6% higher than at this time last year. Days on Market
This month, the average number of days on market was 35, lower than the average last year, which was 57, a decrease of 39%. | |||
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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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