Is Wicomico County, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Wicomico County was a Neutral Market.
Key Takeaway
Wicomico County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Wicomico County, MD
How much do homes in Wicomico County, MD cost?
Median Sold Price
$263,392
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Wicomico County have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Wicomico County was $263,392 in March 2024, up 7.5% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $141K | $140K | -0.7% |
| 2 Bedrooms | $160K | $175K | +9.4% |
| 3 Bedrooms | $229.6K | $245.9K | +7.1% |
| 4 Bedrooms | $330K | $336.5K | +2.0% |
| 5+ Bedrooms | $404.9K | $371K | -8.4% |
Summary: Wicomico County 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 9.4%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 2%, and 5+ bedroom homes decreased by 8.4%.
Median Sold Price Compared To Nearby Counties
| Wicomico County | $245K | $263.3K | +7.5% |
| Sussex County | $450.6K | $474.8K | +5.4% |
| Worcester County | $405.5K | $424.7K | +4.7% |
| Dorchester County | $253.1K | $258.2K | +2.0% |
| Somerset County | $190.5K | $190K | -0.3% |
Housing Supply in Wicomico County, MD
How many homes are available in Wicomico County, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 489 | 484 | -1.0% |
Summary: The Wicomico County real estate market had 484 homes for sale in March 2024, a 1.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 41 | 36 | -12.2% |
| 3 Bedrooms | 271 | 277 | +2.2% |
| 4 Bedrooms | 145 | 141 | -2.8% |
| 5+ Bedrooms | 31 | 29 | -6.5% |
Summary: The Wicomico County 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 12.2%, 3 bedroom homes increased by 2.2%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes decreased by 6.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 65 | 64 | -1.5% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wicomico County, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.
Summary: A total of 64 homes were sold or pending in Wicomico County in March 2024, down by 1.5% month-over-month. Of the 64 sold homes, 44% were sold under asking, 27% were sold at asking, and 30% were sold over asking.
Days on Market for Wicomico County, MD
How long does it take to sell a home in Wicomico County, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 40 Days | 32 Days | -20.5% |
Summary: Homes in Wicomico County had an average of 32 days on market in Mar 2024, down by 20.5% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wicomico County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 64 homes were sold in Wicomico County; 64% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
