Is Salisbury, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Salisbury has remained a Seller's Market.
Key Takeaway
Salisbury is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Salisbury, MD
How much do homes in Salisbury, MD cost?
Median Sold Price
$260,500
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Salisbury have sold for 14.8% more than they did a year ago.
Summary: The median home sold price in Salisbury was $260,500 in June 2024, up 14.8% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $140K | $136.5K | -2.5% |
| 2 Bedrooms | $155K | $179.5K | +15.8% |
| 3 Bedrooms | $221.7K | $244.8K | +10.4% |
| 4 Bedrooms | $295.4K | $335.5K | +13.6% |
| 5+ Bedrooms | $345K | $449.9K | +30.4% |
Summary: Salisbury housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.5%, 2 bedroom homes increased by 15.8%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes increased by 30.4%.
Housing Supply in Salisbury, MD
How many homes are available in Salisbury, MD?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 236 | 239 | +1.3% |
Summary: The Salisbury real estate market had 239 homes for sale in June 2024, a 1.3% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 23 | 22 | -4.3% |
| 3 Bedrooms | 134 | 135 | +0.7% |
| 4 Bedrooms | 71 | 69 | -2.8% |
| 5+ Bedrooms | 8 | 13 | +62.5% |
Summary: The Salisbury housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 4.3%, 3 bedroom homes increased by 0.7%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes increased by 62.5%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 59 | 56 | -5.1% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Salisbury, you could pay more than the asking price. 41.1% of homes here sold above asking price last month.
Summary: A total of 56 homes were sold or pending in Salisbury in June 2024, down by 5.1% month-over-month. Of the 56 sold homes, 32% were sold under asking, 27% were sold at asking, and 41% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 20 Days | 30 Days | +48.3% |
Summary: Homes in Salisbury had an average of 30 days on market in Jun 2024, up by 48.3% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Salisbury are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 56 homes were sold in Salisbury; 75% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
