"Consider an exclusive buyer-broker who will represent only you, not the sellers. Nonexclusive real-estate agents tend to show you their own listings first, since they won’t have to share the commission if they represent both the buyer and the seller. Then they’ll probably show you their firm’s listings, since they stand to gain from those sales as well." Consumer Reports March 15, 2010 New Listings Forty-seven residential properties came on the market this past week in Salisbury and Wicomico County, a big increase over recent weeks as we swing into the traditional spring selling season. Seventeen are listed under $150,000, a common price point for investors and entry level buyers. Twenty-eight more homes are priced between $150,000 and $300,000, the range where most sales are taking place. Pending This Week Last week twelve residential properties went under contract in Wicomico County. The average time on market before going pending was 5.8 months. Four were on the market for less than 30 days before going pending. Sold This Week Five homes sold last week in Salisbury and Wicomico County. The average time on market was 5.7 months and sold for an average of 95% of the list price. Currently, there are nearly 860 active residential listings within the county, which includes single family, townhomes, condos and duplexes. Mortgage rates were hovering around 5.125% for a 30 year fixed mortgage. April 30th is now less than seven weeks away and buyers should be seriously looking for their next home in order to qualify for the extended and expanded tax credits. Recent news of USDA Rural Housing possibly running out of money soon is adding to the uncerainty for this market segment. March 8-15 Market Analysis Interactive March 8-15 Market Analysis Read Only |