The Long & Foster Market Minute

Focus On: Wicomico County Housing Market August 2021

Units Sold
136
Active Inventory
185
Median Sale Price
$235,000
Days On Market
27
Up 18%
Vs. Year Ago
Down -31%
Vs. Year Ago
Up 27%
Vs. Year Ago
Down -39%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 136 sold this month in Wicomico County Real Estate versus 144 last month, a decrease of 6%. This month's total units sold was higher than at this time last year, an increase of 18% versus August 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 85 units or 31%. The total number of active inventory this August was 185 compared to 270 in August 2020. This month's total of 185 is lower than the previous month's total supply of available inventory of 227, a decrease of 19%.

Median Sale Price
Last August, the median sale price for Wicomico County Homes was $185,000. This August, the median sale price was $235,000, an increase of $50,000 compared to last year. The current median sold price is higher than in July.

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


New Listings
153
Current Contracts
162
Sold Vs. List Price
100.8%
Months of Supply
1.4
Up 6%
Vs. Year Ago
Up 16%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -42%
Vs. Year Ago

Months of Supply
In August, there was 1.4 months of supply available in Wicomico County, compared to 2.3 in August 2020. That is a decrease of 42% 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 153 homes newly listed for sale in Wicomico County compared to 145 in August 2020, an increase of 6%. There were 162 current contracts pending sale this August compared to 140 a year ago. The number of current contracts is 16% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Wicomico County was 100.8% of the average list price, which is 1.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 27, lower than the average last year, which was 44, a decrease of 39%.

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.