Salisbury, MD August 2013 real estate market trends indicate a strong end to summer in the Maryland real estate market.
Salisbury, MD -- (SBWIRE) -- 09/16/2013 -- The Salisbury real estate market is improving, and figures for August of 2013 show strong indications that it will continue to grow steadily. Increases were seen across the board compared to the same time period last year, with median sales prices going up, and double digit increases in the price per square foot and number of homes sold.
End of summer numbers show that the median sales price for a home is Salisbury was $141,500, a figure that is 8.8% ($11,500) higher than last August. The price per square foot for property reached $97, a respectable 15.5% year over year increase, and the number of homes sold went up by 31%.
“We really saw the Salisbury market make a marked improvement over last summer,” said John Wingate, owner of www.WingatePremierRealEstate.com. “August proved to be another positive month for real estate growth in the area, and I expect this trend to continue as the real estate market rebounds further”.
The number of foreclosures in the area, which greatly reduced home values during the market slump, continues to fall, and the vast majority of Salisbury homes for sale are by traditional sellers. The strong showing in August is good news for buyers and sellers; Salisbury is still affordable compared to other areas in Maryland, giving buyers a number of home options. Sellers are benefiting from higher sales prices, and less competition from low priced foreclosures.
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