Is Talbot County, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Talbot County is a buyer'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

+$75,500(+18.4%)

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

# BEDSMar 2023Mar 2024CHANGE
1 $280K$210K
-25.0%
2 $300K$405K
+35.0%
3 $379K$472.5K
+24.7%
4 $518.7K$652K
+25.7%
5+ $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
+18.4%
Queen Anne's County
+14.5%
Dorchester County
+2.0%
Caroline County
-1.3%

Housing Supply in Talbot County, MD

How many homes are available in Talbot County, MD?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
336354+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

# BEDSFeb 2024Mar 2024CHANGE
1 43
-25.0%
2 3135
+12.9%
3 143147
+2.8%
4 9397
+4.3%
5+ 6572
+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 2024Mar 2024CHANGE
3135+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

Asking vs Sold - buyer

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 2023Mar 2024CHANGE
51 Days41 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

Breakdown of Home Sale Times

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.

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

Report Updated 18 Days Ago

Newest Listings in Talbot County, MD

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