Is Salisbury, 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, Salisbury was a Seller's Market.
Key Takeaway
Salisbury 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 Salisbury, MD
How much do homes in Salisbury, MD cost?
Median Sold Price
$262,205
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Salisbury have sold for 16.5% more than they did a year ago.
Summary: The median home sold price in Salisbury was $262,205 in May 2024, up 16.5% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $140K | $136.5K | -2.5% |
| 2 Bedrooms | $157K | $175K | +11.5% |
| 3 Bedrooms | $218K | $245.5K | +12.6% |
| 4 Bedrooms | $290K | $337K | +16.2% |
| 5+ Bedrooms | $335K | $420K | +25.4% |
Summary: Salisbury housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.5%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 12.6%, 4 bedroom homes increased by 16.2%, and 5+ bedroom homes increased by 25.4%.
Housing Supply in Salisbury, MD
How many homes are available in Salisbury, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 231 | 237 | +2.6% |
Summary: The Salisbury real estate market had 237 homes for sale in May 2024, a 2.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 17 | 22 | +29.4% |
| 3 Bedrooms | 134 | 141 | +5.2% |
| 4 Bedrooms | 68 | 66 | -2.9% |
| 5+ Bedrooms | 12 | 8 | -33.3% |
Summary: The Salisbury 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 increased by 29.4%, 3 bedroom homes increased by 5.2%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 47 | 34 | -27.7% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Salisbury, you may be able to get a good deal. 44.1% of homes here sold below asking price last month.
Summary: A total of 34 homes were sold or pending in Salisbury in May 2024, down by 27.7% month-over-month. Of the 34 sold homes, 44% were sold under asking, 26% were sold at asking, and 29% were sold over asking.
Days on Market for Salisbury, MD
How long does it take to sell a home in Salisbury, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 32 Days | 33 Days | +4.3% |
Summary: Homes in Salisbury had an average of 33 days on market in May 2024, up by 4.3% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Salisbury are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 34 homes were sold in Salisbury; 71% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
