Is Talbot 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, Talbot County was a Seller's Market.
Key Takeaway
Talbot 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 Talbot County, MD
How much do homes in Talbot County, MD cost?
Median Sold Price
$496,000
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Talbot County have sold for 22.5% more than they did a year ago.
Summary: The median home sold price in Talbot County was $496,000 in April 2024, up 22.5% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $265K | $210K | -20.8% |
| 2 Bedrooms | $315K | $405K | +28.6% |
| 3 Bedrooms | $378K | $481K | +27.2% |
| 4 Bedrooms | $512.5K | $660K | +28.8% |
| 5+ Bedrooms | $2.3M | $1.9M | -16.9% |
Summary: Talbot County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.8%, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 27.2%, 4 bedroom homes increased by 28.8%, and 5+ bedroom homes decreased by 16.9%.
Median Sold Price Compared To Nearby Counties
| Talbot County | $405K | $496K | +22.5% |
| Queen Anne's County | $460.6K | $515K | +11.8% |
| Dorchester County | $250K | $257.5K | +3.0% |
| Caroline County | $304K | $299K | -1.6% |
Housing Supply in Talbot County, MD
How many homes are available in Talbot County, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 207 | 223 | +7.7% |
Summary: The Talbot County real estate market had 223 homes for sale in April 2024, a 7.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 27 | 27 | 0.0% |
| 3 Bedrooms | 91 | 105 | +15.4% |
| 4 Bedrooms | 53 | 49 | -7.5% |
| 5+ Bedrooms | 33 | 39 | +18.2% |
Summary: The Talbot County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 15.4%, 4 bedroom homes decreased by 7.5%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 40 | 37 | -7.5% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
9 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. 54.1% of homes here sold below asking price last month.
Summary: A total of 37 homes were sold or pending in Talbot County in April 2024, down by 7.5% month-over-month. Of the 37 sold homes, 54% were sold under asking, 22% were sold at asking, and 24% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 33 Days | 26 Days | -19.3% |
Summary: Homes in Talbot County had an average of 26 days on market in Apr 2024, down by 19.3% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
5 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 April 2024, 37 homes were sold in Talbot County; 76% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
