The Long & Foster Market Minute

Focus On: Wicomico County Housing Market January 2024

Units Sold
65
Active Inventory
165
Median Sale Price
$257,900
Days On Market
39
Down -6%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 15%
Vs. Year Ago
Up 3%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 65 sold this month in Wicomico County Real Estate versus 72 last month, a decrease of 10%. This month's total units sold was lower than at this time last year, a decrease of 6% versus January 2023.

Active Inventory
Versus last year, the total number of homes available this month is higher by 7 units or 4%. The total number of active inventory this January was 165 compared to 158 in January 2023. This month's total of 165 is lower than the previous month's total supply of available inventory of 187, a decrease of 12%.

Median Sale Price
Last January, the median sale price for Wicomico County Homes was $224,900. This January, the median sale price was $257,900, an increase of 15% or $33,000 compared to last year. The current median sold price is 7% higher than in December.

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


New Listings
82
Current Contracts
90
Sold Vs. List Price
98.0%
Months of Supply
2.5
Up 8%
Vs. Year Ago
Up 18%
Vs. Year Ago
Up 0.7%
Vs. Year Ago
Up 11%
Vs. Year Ago

Months of Supply
In January, there was 2.5 months of supply available in Wicomico County, compared to 2.3 in January 2023. That is an increase of 11% 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 82 homes newly listed for sale in Wicomico County compared to 76 in January 2023, an increase of 8%. There were 90 current contracts pending sale this January compared to 76 a year ago. The number of current contracts is 18% higher than last January.

Sale Price to List Price Ratio
In January, the average sale price in Wicomico County was 98.0% of the average list price, which is 0.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 39, higher than the average last year, which was 38, an increase of 3%.

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.