Is Dorchester County, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Dorchester County has remained a Buyer's Market.
Key Takeaway
Dorchester County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Dorchester County, MD
How much do homes in Dorchester County, MD cost?
Median Sold Price
$258,200
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Dorchester County have sold for 2% more than they did a year ago.
Summary: The median home sold price in Dorchester County was $258,200 in March 2024, up 2% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $150K | -18.9% |
| 2 Bedrooms | $169.9K | $160K | -5.8% |
| 3 Bedrooms | $240K | $235K | -2.1% |
| 4 Bedrooms | $309.9K | $314.4K | +1.5% |
| 5+ Bedrooms | $306.2K | $395K | +29.0% |
Summary: Dorchester County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.9%, 2 bedroom homes decreased by 5.8%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 29%.
Median Sold Price Compared To Nearby Counties
| Talbot County | $409.5K | $485K | +18.4% |
| Wicomico County | $245K | $263.3K | +7.5% |
| Sussex County | $450.6K | $474.8K | +5.4% |
| Dorchester County | $253.1K | $258.2K | +2.0% |
| Caroline County | $303K | $299.1K | -1.3% |
Housing Supply in Dorchester County, MD
How many homes are available in Dorchester County, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 358 | 381 | +6.4% |
Summary: The Dorchester County real estate market had 381 homes for sale in March 2024, a 6.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 6 | -14.3% |
| 2 Bedrooms | 76 | 76 | 0.0% |
| 3 Bedrooms | 169 | 187 | +10.7% |
| 4 Bedrooms | 79 | 86 | +8.9% |
| 5+ Bedrooms | 27 | 26 | -3.7% |
Summary: The Dorchester County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes decreased by 3.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 26 | 32 | +23.1% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dorchester County, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 32 homes were sold or pending in Dorchester County in March 2024, up by 23.1% month-over-month. Of the 32 sold homes, 50% were sold under asking, 31% were sold at asking, and 19% were sold over asking.
Days on Market for Dorchester County, MD
How long does it take to sell a home in Dorchester County, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 71 Days | 72 Days | +1.8% |
Summary: Homes in Dorchester County had an average of 72 days on market in Mar 2024, up by 1.8% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Dorchester County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 32 homes were sold in Dorchester County; 38% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.
