Eastern Shore Housing Market Continues to Experience Tightened Inventory

April 15, 2013
March Long & Foster Market Minute® reports show many positive trends for region
The Eastern Shore of the Maryland real estate market, including Worcester, Wicomico, Dorchester, Queen Anne’s, Talbot and Caroline counties, experienced some positive trends in March compared to the same month in 2012, according to The Long & Foster Market Minute® reports. In March, the Eastern Shore region continued a decline in active inventory compared to year-ago levels, according to data.

The Long & Foster Market Minute® reports are compiled from data from residential real estate transactions within specific geographic regions, not just Long & Foster sales.


Median sale prices increased through some parts of Maryland’s Eastern Shore region, according to March data. Caroline County experienced a significant increase of 44 percent, while Dorchester County increased by 35 percent in median sale price year-over-year. Queen Anne’s county also saw an increase of 2 percent compared to March 2012.

In March, the number of homes sold increased throughout some of the Eastern Shore region, according to data. Caroline County saw increases of 53 percent. Dorchester and Talbot counties also reported increases of 21 percent and 10 percent, respectively. Part of the decrease in number of homes sold across the region can be attributed to the low levels of inventory.

Homes are continuing to sell at a solid pace throughout most of the region, according to the March data. Wicomico County’s days on market (DOM) was an average of 113 days, while Caroline County had an average DOM of 158 days. The rest of the region saw homes selling between 186 to 240 days, on average.

“Spring is finally here, along with an uptick in activity in the residential real estate market in the Eastern Shore region. With improving market conditions – including stronger than expected job growth, and rising affordability and consumer confidence – potential buyers and sellers are using this opportunity to explore what their market has to offer,” said Jeffrey S. Detwiler, president and chief operating officer of The Long & Foster® Companies.

“While inventory remains low, limiting the number of options for would-be buyers, the Eastern Shore market is experiencing some positive trends such as appreciating home prices and decreasing average number of days on market. These are all promising signs for the Eastern Shore region’s local housing market, and provide a prime opportunity for fence-sitters to fulfill their dreams of homeownership.”

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.