WHAT IS THE PROFILE OF ACTIVE HOMES?
PRICING The average price on the market is $368,000, but varies widely by county/location. With the current interest rates pushing 7%, the $300,000 market is still quite hot. This chart helps explain why...
Only about 20% of the active inventory falls between $100,000 and $300,000. This means the largest group of buyers are still facing stiff competition for homes in a relatively narrow band of the market. And with interest rates squeezing affordability, buyers who may have been looking above $300,000 before are now being pushed down into that crowded segment, too.
20% of the properties for sale are condos or OWNERSHIP TYPE
land leases. This leaves just 80% of
market as Fee Simple homes which is what most home buyers are searching for.
Of course, the condos and land leases are primarily located in Eastern Sussex and Worcester counties. In Wicomico, Somerset and Dorchester, fee simple homes make up 95% of the inventory.
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