The Long & Foster Market Minute

Focus On: Wicomico County Housing Market December 2022

Units Sold
73
Active Inventory
154
Median Sale Price
$215,000
Days On Market
31
Down
Vs. Year Ago
Down -18%
Vs. Year Ago
Down -4%
Vs. Year Ago
Down -14%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 73 sold this month in Wicomico County Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 33 units or 18%. The total number of active inventory this December was 154 compared to 187 in December 2021. This month's total of 154 is lower than the previous month's total supply of available inventory of 175, a decrease of 12%.

Median Sale Price
Last December, the median sale price for Wicomico County Homes was $225,000. This December, the median sale price was $215,000, a decrease of 4% or $10,000 compared to last year. The current median sold price is 10% lower than in November.

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


New Listings
58
Current Contracts
65
Sold Vs. List Price
98.3%
Months of Supply
2.1
Down -31%
Vs. Year Ago
Down -27%
Vs. Year Ago
Down -1.3%
Vs. Year Ago
Up 52%
Vs. Year Ago

Months of Supply
In December, there was 2.1 months of supply available in Wicomico County, compared to 1.4 in December 2021. That is an increase of 52% 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 58 homes newly listed for sale in Wicomico County compared to 84 in December 2021, a decrease of 31%. There were 65 current contracts pending sale this December compared to 89 a year ago. The number of current contracts is 27% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Wicomico County was 98.3% of the average list price, which is 1.3% lower than at this time last year.

Days on Market
This month, the average number of days on market was 31, lower than the average last year, which was 36, a decrease of 14%.

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.