Active inventory fell throughout Maryland’s Eastern Shore region in March, according to The Long & Foster Market Minute reports. The Eastern Shore market includes Worcester, Wicomico, Dorchester, Queen Anne’s, Talbot and Caroline counties. The Long & Foster Market Minute reports are based on data provided by Metropolitan Regional Information System and Coastal Association of Realtors and their member associations of Realtors and include residential real estate transactions within specific geographic regions, not just Long & Foster sales.

Inventory decreased in the Eastern Shore region when compared to year-ago levels, according to March data. Queen Anne’s County experienced the largest drop at 22 percent, followed by Caroline County at 21 percent. Worcester County saw active inventory decease by 13 percent and it fell by 9 percent in Dorchester, Wicomico and Talbot counties.

The number of homes sold varied in the Eastern Shore real estate market in March. Wicomico County experienced a 13 percent jump in the number of homes sold, while Talbot County saw a 2 percent increase from the previous year. Worcester County experienced a decrease of 9 percent and in Queen Anne’s County the number of homes sold fell by 18 percent. Other areas in the region saw the number of homes sold fall by 19 percent to 44 percent.

Median sale prices also varied the Eastern Shore region in March, with Queen Anne’s County seeing a 24 percent increase and Worcester County seeing a 2 percent increase compared to the same month last year. In Talbot County the median sale price fell by 2 percent. Wicomico County experienced a 9 percent decrease, and Caroline County saw a 20 percent decrease. In Dorchester County the median sale price declined by 38 percent.

Within the region, homes are selling in three to six months on average, according to March data. Wicomico County experienced the lowest average days on market (DOM) of 113 days, followed by Dorchester County at 117 days and Caroline County at 125 days. The rest of the region saw homes selling between 141 to 163 days on average.

“The real estate market has been off to a good start this year and although low inventory has impacted many areas, homes are continuing to sell at a steady pace, including in the Eastern Shore region,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “Across Long & Foster’s markets we’ve seen modest overall growth in sales in the first quarter of 2016 and we expect to see even more positive trends in the months ahead.”

The Long & Foster Market Minute is an overview of market statistics based on residential real estate transactions and presented at the county level. The easy-to-read and easy-to-share reports include information about each area’s units sold, active inventory, median sale prices, months of supply, new listings, new contracts, list to sold price ratio, and days on market. Featuring reports for more than 500 local areas and neighborhoods in addition to more than 100 counties in eight states, The Long & Foster Market Minute is offered to buyers and sellers as they aim to make well-informed real estate decisions.

The Long & Foster Market Minute reports are available at www.LongandFoster.com, and you can subscribe to free updates for the reports in which you’re interested.    Information included in this report is based on data supplied by MRIS and CAR, which is not responsible for its accuracy. The reports do 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 MRIS, CAR or Long & Foster Real Estate, Inc.