Is Talbot 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, Talbot County was a Seller's Market.
Housing Prices in Talbot County, MD
How much do homes in Talbot County, MD cost?
Median Sold Price
$500,666
$258/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Talbot County was $500,666 in May 2024, up 21.1% from last year, and the median price per square foot was $258.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $278.7K | $125K | -55.2% |
2 Bedrooms | $307.5K | $381.2K | +24.0% |
3 Bedrooms | $380K | $490K | +28.9% |
4 Bedrooms | $525K | $678K | +29.1% |
5+ Bedrooms | $1.9M | $2.2M | +12.8% |
Summary: Talbot County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 55.2%, 2 bedroom homes increased by 24%, 3 bedroom homes increased by 28.9%, 4 bedroom homes increased by 29.1%, and 5+ bedroom homes increased by 12.8%.
Median Sold Price Compared To Nearby Counties
Talbot County | $413.4K | $500.6K | +21.1% |
Queen Anne's County | $462.2K | $519K | +12.3% |
Dorchester County | $256.1K | $254.9K | -0.5% |
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
Apr 2024 | May 2024 | CHANGE |
---|---|---|
229 | 286 | +24.9% |
Summary: The Talbot County real estate market had 286 homes for sale in May 2024, a 24.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 5 | +25.0% |
2 Bedrooms | 26 | 25 | -3.8% |
3 Bedrooms | 107 | 135 | +26.2% |
4 Bedrooms | 51 | 68 | +33.3% |
5+ Bedrooms | 41 | 53 | +29.3% |
Summary: The Talbot County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 3.8%, 3 bedroom homes increased by 26.2%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 29.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
38 | 40 | +5.3% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 40 homes were sold or pending in Talbot County in May 2024, up by 5.3% month-over-month. Of the 40 sold homes, 43% were sold under asking, 23% were sold at asking, and 35% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
36 Days | 28 Days | -19.8% |
Summary: Homes in Talbot County had an average of 28 days on market in May 2024, down by 19.8% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 40 homes were sold in Talbot County; 73% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.