Is Dorchester County, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Dorchester County was a Seller's Market.
Key Takeaway
Dorchester County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Dorchester County, MD
How much do homes in Dorchester County, MD cost?
Median Sold Price
$254,995
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Dorchester County has remained the same since last year.
Summary: The median home sold price in Dorchester County was $254,995 in May 2024, down 0.5% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $171K | $90K | -47.4% |
| 2 Bedrooms | $153.7K | $172.5K | +12.2% |
| 3 Bedrooms | $240K | $225K | -6.3% |
| 4 Bedrooms | $308.9K | $309.9K | 0.3% |
| 5+ Bedrooms | $339.4K | $395K | +16.4% |
Summary: Dorchester County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 47.4%, 2 bedroom homes increased by 12.2%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes increased by 16.4%.
Median Sold Price Compared To Nearby Counties
| Talbot County | $413.4K | $500.6K | +21.1% |
| Wicomico County | $245.1K | $265.1K | +8.2% |
| Sussex County | $451.6K | $479.9K | +6.3% |
| Dorchester County | $256.1K | $254.9K | -0.5% |
| 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
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 227 | 250 | +10.1% |
Summary: The Dorchester County real estate market had 250 homes for sale in May 2024, a 10.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 46 | 45 | -2.2% |
| 3 Bedrooms | 102 | 120 | +17.6% |
| 4 Bedrooms | 60 | 61 | +1.7% |
| 5+ Bedrooms | 18 | 23 | +27.8% |
Summary: The Dorchester County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 2.2%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 27.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 38 | 33 | -13.2% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
4 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. 54.5% of homes here sold below asking price last month.
Summary: A total of 33 homes were sold or pending in Dorchester County in May 2024, down by 13.2% month-over-month. Of the 33 sold homes, 55% were sold under asking, 33% were sold at asking, and 12% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 61 Days | 58 Days | -5.3% |
Summary: Homes in Dorchester County had an average of 58 days on market in May 2024, down by 5.3% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
10 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 May 2024, 33 homes were sold in Dorchester County; 45% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
