Long & Foster Market Minute reports provide insight to the regional market
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 December compared to the same month in 2012, according to The Long & Foster Market Minute® reports. In December, the number of homes sold increased in many parts of the Eastern Shore.
The Long & Foster Market Minute reports are compiled from data from residential real estate transactions within specific geographic regions, not just Long & Foster sales.
Inventory throughout the Eastern Shore area also varied, according to December data. Wicomico and Worcester counties saw decreases of 15 percent and 7 percent, respectively. Caroline County saw no change in levels of active inventory. Active inventory increased by 1 percent in Dorchester County, 6 percent in Talbot County and 9 percent in Queen Anne’s County.According to December data, median sale prices fluctuated throughout Maryland’s Eastern Shore region. Wicomico County experienced an increase of 15 percent, while Talbot County saw an increase of 3 percent. Other areas experienced decreases from 2 percent to 11 percent.
Homes are continuing to sell at a solid pace throughout most of the region, according to the December data. Wicomico County experienced an average days on market (DOM) of 107 days, while Caroline County saw an average DOM of 113 days. The rest of the region saw homes selling between 131 to 172 days, on average.
“We’re continuing to see many improvements throughout the real estate market on the East Coast, including in the Eastern Shore region,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “Many areas are experiencing rising sale prices and increases in the number of homes sold. These developments bode well for the market in 2014, and we expect to see continued improvement in the housing market, meaning better opportunities for both home buyers and sellers.”
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.