Local 2022 year-end statistics for Wicomico County, brought to us by Bright MLS and the Coastal Association of Realtors. It’s important to pay attention to local data rather than nationwide statistics when making decision for you and your family. As you can see, listings and sales were down from the previous December 2021. But, our market has been falsely inflated due to Covid for several years, and we are starting to shift back toward a more normal market. Important factors to note are our Median Sold Price. Although it is down from the previous month, it increased 14% in our area over the last year. Similarly, Days on Market continues to be historically low, at only 31 days. Sales are low because inventory is low, but there is still much buyer demand out there. Experts in our industry predict that interest rates will continue to decrease over the next few months, making it a more attractive housing market for buyer, and a more predictable market for sellers.
