Is Dorchester County, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Dorchester County was a Seller's Market.
Key Takeaway
Dorchester County 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 Dorchester County, MD
How much do homes in Dorchester County, MD cost?
Median Sold Price
$257,500
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Dorchester County have sold for 3% more than they did a year ago.
Summary: The median home sold price in Dorchester County was $257,500 in April 2024, up 3% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $150K | -30.2% |
| 2 Bedrooms | $158.5K | $170K | +7.3% |
| 3 Bedrooms | $235.4K | $230K | -2.3% |
| 4 Bedrooms | $309.9K | $314.9K | +1.6% |
| 5+ Bedrooms | $325.9K | $395K | +21.2% |
Summary: Dorchester County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 30.2%, 2 bedroom homes increased by 7.3%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 21.2%.
Median Sold Price Compared To Nearby Counties
| Talbot County | $405K | $496K | +22.5% |
| Wicomico County | $244.5K | $265K | +8.4% |
| Sussex County | $452.5K | $476.8K | +5.4% |
| Dorchester County | $250K | $257.5K | +3.0% |
| Caroline County | $304K | $299K | -1.6% |
Housing Supply in Dorchester County, MD
How many homes are available in Dorchester County, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 205 | 216 | +5.4% |
Summary: The Dorchester County real estate market had 216 homes for sale in April 2024, a 5.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 40 | 43 | +7.5% |
| 3 Bedrooms | 96 | 95 | -1.0% |
| 4 Bedrooms | 53 | 60 | +13.2% |
| 5+ Bedrooms | 14 | 17 | +21.4% |
Summary: The Dorchester County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 7.5%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes increased by 21.4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 36 | 35 | -2.8% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dorchester County, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 35 homes were sold or pending in Dorchester County in April 2024, down by 2.8% month-over-month. Of the 35 sold homes, 60% were sold under asking, 14% were sold at asking, and 26% were sold over asking.
Days on Market for Dorchester County, MD
How long does it take to sell a home in Dorchester County, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 64 Days | 65 Days | +1.4% |
Summary: Homes in Dorchester County had an average of 65 days on market in Apr 2024, up by 1.4% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Dorchester County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 35 homes were sold in Dorchester County; 43% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 34% of homes were sold over 90 days.
