Median sale prices rose in most areas of the Eastern Shore region in November, 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.

Median sale prices rose in many parts of the Eastern Shore region in November when compared to the previous year, with Caroline County seeing a 28 percent jump and Wicomico County seeing a 23 percent increase compared to the same month last year. In Queen Anne’s County, the median sale price rose by 11 percent, and both Dorchester and Talbot counties experienced a 6 percent increase from the previous year. The median sale price in Worcester County fell by 8 percent.

The number of homes sold varied in the Eastern Shore real estate market in November. Dorchester County experienced a 40 percent jump in the number of homes sold, followed by Wicomico County with a 39 percent increase from the previous year. Queen Anne’s County experienced a 5 percent increase in the number of homes sold. In Worcester County, the number of homes sold fell by 2 percent, and in Talbot and Caroline counties the number of homes sold fell by 12 percent and 15 percent, respectively.

Active inventory decreased throughout the Eastern Shore region when compared to year-ago levels, according to November data. Wicomico County saw active inventory fall by 27 percent, and both Caroline and Queen Anne’s counties experienced a 23 percent decline in inventory. Active inventory fell by 18 percent in Dorchester County, while it declined by 16 percent in Talbot County. In Worcester County, inventory fell by 13 percent.

Queen Anne’s County leads the region with the lowest average days on market (DOM) at 92 days, followed by Wicomico County with a DOM average of 100 days. In Talbot County, the DOM average was 111 days, and in Caroline County, homes sold in an average of 120 days. In Dorchester and Worcester counties, the DOM averages were 145 days and 163 days, respectively.

“November was another good month for the United States economy, with consumer confidence hitting one of its highest numbers since 2007. In the Mid-Atlantic and Northeast housing market, we saw a number of positive trends as well, including in the Eastern Shore region,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “Although inventory is still sparse, many people are choosing to buy a home, taking advantage of mortgage rates while they remain low.”

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.