MARKET INSIGHTS APPLYING DATA SCIENCE TO BETTER UNDERSTAND OUR LOCAL MARKET Prices edged higher in April, but so has inventory (finally!) as the Spring market is in full swing. However, just seeing inventory increase doesn’t tell the whole story for how this affects buyers. As always, we seek a deeper understanding of what is happening. Let’s take a look…
All transaction data & data visualizations are based on information from Bright MLS for the period 1/1/2018 to 5/15/2023 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 for the 4th consecutive month.
Pricing appeared fairly stable for the last few months with only Sussex county showing any noticeable trend upward. However, April saw increases in 4 out of the 5 counties.
# OF HOMES SOLD
April sales were down 21% compared to April '22. Year-to-date, there have been 24% fewer Homes sold compared to last year.
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