The number of homes sold increased in 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 compiled from data from residential real estate transactions within specific geographic regions, not just Long & Foster sales.

 

The Eastern Shore real estate market saw some positive trends in the number of homes sold in March. In Dorchester County the number of homes sold increased by 100 percent, followed by a 67 percent jump in Queen Anne’s County and a 38 percent increase in Caroline County. Wicomico County experienced a 26 percent increase in the number of homes sold, and Talbot County saw an 18 percent increase. In Worcester County the number of homes sold increased by 9 percent.

The median sale price varied across the Eastern Shore region, with Wicomico County seeing a 48 percent increase and Worcester County seeing a 2 percent increase compared to the same month last year. In Talbot County the median sale price dipped by 3 percent, while other areas experienced declines from 4 percent to 12 percent.

Inventory decreased in parts of the Eastern Shore region when compared to year-ago levels, according to March data. Worcester County saw a decrease of 9 percent and Dorchester County had an 8 percent drop. Active inventory in Wicomico County dropped by 6 percent, followed by a 3 percent decrease in Caroline County. Talbot and Queen Anne’s counties experienced increases of 2 percent and 7 percent, respectively.

In most areas of the region, homes are selling in three to five months or less on average, according to the March data. Queen Anne’s County experienced an average days on market (DOM) of 94 days, followed by Wicomico County at 95 days. The rest of the region saw homes selling between 106 to 154 days on average.

“In March, we saw some positive trends in the Mid-Atlantic and Northeast real estate market, including in the Eastern Shore region, where we saw increases in the number of homes sold,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “We saw consumer spending increase in March for the first time since November, and with rising consumer spending comes higher consumer confidence, and that bodes well for the housing market.”

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 users can subscribe to free updates for the reports in which they’re interested.