MARKET INSIGHTS APPLYING DATA SCIENCE TO BETTER UNDERSTAND OUR LOCAL MARKET Trends from last month continue with prices ticking up and homes still selling quickly. Inventory is picking up, but does that mean you have more options for the specific property you are looking for as a buyer? It depends! Read on to learn more…
All transaction data & data visualizations are based on information from Bright MLS for the period 1/1/2018 to 6/30/2023 Unless otherwise noted, data includes “Active” or “Closed” transactions from Wicomico, Worcester, Somerset, Dorchester and Sussex Counties
AVERAGE SOLD PRICE Average pricing in our area is up again in June.
Prices have steadily risen throughout 2023. There may be signs however that the rate of increase is slowing down. Worcester and Dorchester had declines in average pricing. The average price in Dorchester reset after the unusual high in May. Wicomico remained steady from last month. Sussex and Somerset both increased modestly.
# OF HOMES SOLD
June sales were similar to May.Notably, this is the first month in 2023 that exceeded sales from the same month in 2022. YTD sales are still down about 16% compared to 2022.
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