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 October 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

$259,450

$166/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$17,117(+7.1%)

Key Takeaway

Homes in Salisbury have sold for 7.1% more than they did a year ago.

Summary: The median home sold price in Salisbury was $259,450 in October 2024, up 7.1% from last year, and the median price per square foot was $166.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $140K$171.7K
+22.6%
2 $160K$175K
+9.4%
3 $230.7K$249K
+7.9%
4 $339.6K$323.7K
-4.7%
5+ $369K$440K
+19.2%

Summary: Salisbury housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.6%, 2 bedroom homes increased by 9.4%, 3 bedroom homes increased by 7.9%, 4 bedroom homes decreased by 4.7%, and 5+ bedroom homes increased by 19.2%.

Housing Supply in Salisbury, MD

How many homes are available in Salisbury, MD?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
256278+8.6%

Summary: The Salisbury real estate market had 278 homes for sale in October 2024, a 8.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 3136
+16.1%
3 144162
+12.5%
4 6661
-7.6%
5+ 1418
+28.6%

Summary: The Salisbury housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.1%, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 7.6%, and 5+ bedroom homes increased by 28.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
5046-8.0%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

13 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. 52.2% of homes here sold below asking price last month.

Summary: A total of 46 homes were sold or pending in Salisbury in October 2024, down by 8.0% month-over-month. Of the 46 sold homes, 52% were sold under asking, 20% were sold at asking, and 28% 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

Oct 2023Oct 2024CHANGE
20 Days34 Days+72.4%

Summary: Homes in Salisbury had an average of 34 days on market in Oct 2024, up by 72.4% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

20 Homes Were Sold
In 30 - 90 Days

2 Homes Were 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 October 2024, 46 homes were sold in Salisbury; 52% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 4% 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 6 Days Ago

Newest Listings in Salisbury, MD

Nearby Markets to Salisbury, MD