Median sale prices rose in parts of the Eastern Shore region in February, 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.

Parts of the Eastern Shore region experienced increased median sale prices in February when compared to the previous year. Dorchester County saw a 39 percent jump and Queen Anne’s County saw a 16 percent increase. In Wicomico County, the median sale price rose by 9 percent, and Talbot County experienced a 3 percent increase from the previous year. The median sale price in Worcester County fell by 17 percent, while it fell by 45 percent in Caroline County.

The number of homes sold varied in the Eastern Shore real estate market in February. Queen Anne’s County experienced a 9 percent increase in the number of homes sold, and both Wicomico and Worcester counties experienced a 4 percent increase. Talbot County experienced a 16 percent decrease in the number of homes sold. In Caroline County, the number of homes sold fell by 24 percent, and in Dorchester County the number of homes sold fell by 42 percent.

Active inventory decreased throughout the Eastern Shore region when compared to year-ago levels, according to February data. Wicomico County saw active inventory fall by 30 percent, and Queen Anne’s County experienced a 22 percent decline in inventory. Active inventory fell by 18 percent in Worcester County, while it declined by 16 percent in Caroline County. Active inventory levels fell by 15 percent in Talbot County and by 14 percent in Dorchester County.

Talbot County leads the region with the lowest average days on market (DOM) at 102 days, followed by Wicomico County with a DOM average of 107 days. In Queen Anne’s County, the DOM average was 119 days, and in Caroline County, homes sold in an average of 131 days. In Dorchester and Worcester counties, the DOM averages were 136 days and 146 days, respectively.

“The United States economy continued to make gains in many areas in February, and at Long & Foster we saw positive indicators of growth in the real estate industry as well, including in the Eastern Shore market,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “Sale prices of homes continued to rise for many in the Mid-Atlantic and Northeast regions and numerous locales also experienced increased numbers of homes sold. With continued high demand for homes, we expect to see a busy spring season.”

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.