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New Listings
This past week saw 45 new listings for single family homes in Salisbury and Wicomico County, with half listed between $150,000 and $300,000, the range where most sales are taking place. Fourteen more are listed below $150,000, presenting more choices for entry level buyers and investors.
Wicomico New Listings April 28-May 5
Pending This Week
This week 19 properties went under contract in Wicomico County, with fifteen on the market less than 90 days and thirteen of those less than 60 days. Several of the remainder went pending after major price reductions. This is further evidence that Sellers who price their homes wisely are getting solid showing activity and drawing offers.
Wicomico Pending Listings April 28-May 5
Sold This Week
Eighteen more homes sold last week in Wicomico County. On average, homes sold for 96% of the asking price for the week, suggesting a continued willingness on the Sellers' part to make greater concessions to Buyers when negotiating. Five homes that sold had a purchase price over $300,000, suggesting an improving luxury market. Recent increases in FHA loan limits may be a factor here. Average time on market was 4 months, the lowest in quite some time. In spite of the doom and gloom we see in the media, all markets are local in nature and homes are being bought and sold at a continually improving pace. A combination of high inventory, lower prices, flexible Sellers and low mortgage rates make this the best time in decades to purchase a home on the Lower Shore. Rates decreased slightly this week to 6% for a 30 year fixed mortgage.
Wicomico Sold Listings April 28-May 5
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