Is Salisbury, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Salisbury is a neutral's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Salisbury was a Seller's Market.

Key Takeaway

Salisbury is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Salisbury, MD

How much do homes in Salisbury, MD cost?

Median Sold Price

$250,500

$164/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$45,533(+22.2%)

Key Takeaway

Homes in Salisbury have sold for 22.2% more than they did a year ago.

Summary: The median home sold price in Salisbury was $250,500 in March 2024, up 22.2% from last year, and the median price per square foot was $164.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $141K$140K
-0.7%
2 $150K$175K
+16.7%
3 $204.9K$243.5K
+18.8%
4 $254.9K$328.6K
+28.9%
5+ $390.7K$369K
-5.6%

Summary: Salisbury housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.7%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 28.9%, and 5+ bedroom homes decreased by 5.6%.

Housing Supply in Salisbury, MD

How many homes are available in Salisbury, MD?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
295299+1.4%

Summary: The Salisbury real estate market had 299 homes for sale in March 2024, a 1.4% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 11
0.0%
2 3128
-9.7%
3 155164
+5.8%
4 9391
-2.2%
5+ 1515
0.0%

Summary: The Salisbury housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 9.7%, 3 bedroom homes increased by 5.8%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
4043+7.5%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Salisbury, you may be able to get a good deal. 46.5% of homes here sold below asking price last month.

Summary: A total of 43 homes were sold or pending in Salisbury in March 2024, up by 7.5% month-over-month. Of the 43 sold homes, 47% were sold under asking, 19% were sold at asking, and 35% were sold over asking.

Days on Market for Salisbury, MD

How long does it take to sell a home in Salisbury, MD?

Average Sale Time

Mar 2023Mar 2024CHANGE
34 Days25 Days-27.4%

Summary: Homes in Salisbury had an average of 25 days on market in Mar 2024, down by 27.4% compared to last year.

Breakdown of Home Sale Times

27 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Salisbury are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 43 homes were sold in Salisbury; 63% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

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