SALES MARKET HOLDS FIRM IN WORCESTER COUNTY

SALES MARKET HOLDS FIRM IN WORCESTER COUNTY

 

We are still in a strong seller’s market!

The market continues to race toward the fall with our sales market experiencing 671 properties that closed in the last 9 weeks.  From July 4 – Sept 5, 2020.  These sold units represent a total gross sales of $216,695,672.

 

The following information represents a weekly breakdown of these residential sales in Worcester County:

 

July 4-11:

70 properties sold

$21,050,913 in gross sales

Average list price $309,453

Average sold price $300,871

Average days on the market 110

 

July 11-18

85 properties sold

$23,379,313 in gross sales

Average list price $358,436

Average sold price $350,020

Average days on the market 97

 

July 18-25

71 properties sold

$22,022,599 in gross sales

Average list price $318,843

Average sold price $310,177

Average days on the market 91

 

July 25 – August 1

106 properties sold

Average list price $316,934

Average sold price $311,425

Average days on the market 113

 

August 1-8

54 properties sold

$17,244,300 Gross sales

Average list price $324,970

Average sold price $319,339

Average days on the market 86

August 8-15

74 properties sold

$24,961,400 Gross sales

Average list price $363,74

Average sold price $353,532

Average days on the market 80

 

August 15-22

71 properties sold

$23,571,451 Gross sales

Average list price $339,099

Average sold $331,992

Average days on the market  109

 

August 22-29

78 properties sold

$27,529,676 Gross sales

Average list price $363,865

Average sold price $356,989

Average days on the market 67

 

August 19 – Sept 5

62 properties sold

$24,245,001 Gross sales

Average list price $403,753

Average sold price $391,048

Average days on the market 92

 

 

These recent sales leave our market with only 64 available ocean front properties in Ocean City and only 578 available residential listings in all of Worcester County.  Additionally, there are but 223 available lots, or land, available to those interested in building a custom home.

The market is still holding strong as a seller’s market, and continues to be an opportune time to list your property for sale.  This aggressive trend,  lack of inventory, and low interest rates holds a buyer’s market firmly at bay.

Contact your local REALTOR for a free competitive market analysis for your home or land.

 

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