Is Talbot 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, Talbot County has remained a Buyer's Market.
Key Takeaway
Talbot County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Talbot County, MD
How much do homes in Talbot County, MD cost?
Median Sold Price
$485,000
$247/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Talbot County have sold for 18.4% more than they did a year ago.
Summary: The median home sold price in Talbot County was $485,000 in March 2024, up 18.4% from last year, and the median price per square foot was $247.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $280K | $210K | -25.0% |
| 2 Bedrooms | $300K | $405K | +35.0% |
| 3 Bedrooms | $379K | $472.5K | +24.7% |
| 4 Bedrooms | $518.7K | $652K | +25.7% |
| 5+ Bedrooms | $2.0M | $1.9M | -2.5% |
Summary: Talbot County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 35%, 3 bedroom homes increased by 24.7%, 4 bedroom homes increased by 25.7%, and 5+ bedroom homes decreased by 2.5%.
Median Sold Price Compared To Nearby Counties
| Talbot County | $409.5K | $485K | +18.4% |
| Queen Anne's County | $449.9K | $515K | +14.5% |
| Dorchester County | $253.1K | $258.2K | +2.0% |
| Caroline County | $303K | $299.1K | -1.3% |
Housing Supply in Talbot County, MD
How many homes are available in Talbot County, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 336 | 354 | +5.4% |
Summary: The Talbot County real estate market had 354 homes for sale in March 2024, a 5.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 31 | 35 | +12.9% |
| 3 Bedrooms | 143 | 147 | +2.8% |
| 4 Bedrooms | 93 | 97 | +4.3% |
| 5+ Bedrooms | 65 | 72 | +10.8% |
Summary: The Talbot County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 10.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 31 | 35 | +12.9% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Talbot County, you may be able to get a good deal. 48.6% of homes here sold below asking price last month.
Summary: A total of 35 homes were sold or pending in Talbot County in March 2024, up by 12.9% month-over-month. Of the 35 sold homes, 49% were sold under asking, 23% were sold at asking, and 29% were sold over asking.
Days on Market for Talbot County, MD
How long does it take to sell a home in Talbot County, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 51 Days | 41 Days | -18.6% |
Summary: Homes in Talbot County had an average of 41 days on market in Mar 2024, down by 18.6% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Talbot County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 35 homes were sold in Talbot County; 71% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
