Eastern Shore housing market remains robust

Laura Anderson is the president of the Mid-Shore Board of REALTORS.

EASTON — The thriving real estate market on the Eastern Shore in 2020 has remained strong during the first quarter of 2021. Median prices were up in all five counties, and more houses sold in the first quarter of 2021 than during the first quarter of 2020.

“Across Maryland’s Eastern Shore, the real estate market that was hot in 2020 is now on fire during the first quarter of 2021,” said Mid-Shore Board of REALTORS President Laura Anderson. “The lack of homes for sale is now bumping up against the spring buying market and intensifying the housing shortage.

“We are seeing bidding wars and multiple offers,” Anderson added. “Low interest rates, availability of remote working and a shortage of homes for sale has created an extreme seller’s market.”

Median home prices for the first quarter of 2021 increased in all five counties. The 2021 first quarter median home prices:

  • Caroline County’s median home price was $241,947, up 42.32% over first quarter of 2020.
  • Dorchester County’s median home price was $208,500, up 19.21% over first quarter of 2020
  • Kent County’s median home price was $249,000, up 17.73% over first quarter of 2020.
  • Queen Anne’s County’s median home price was $399,949, up 19.71% over first quarter of 2020.
  • Talbot County’s median home price was $395,000, up 21.54% over first quarter of 2020.

The number of houses sold during the first quarter of 2021 increased in all five counties. The 2021 first quarter houses sold:

  • In Caroline County, 109 homes sold in the first quarter of 2021, compared to 91 the first quarter of 2020.
  • In Dorchester County, 134 homes sold in the first quarter of 2021, compared to 92 the first quarter of 2020.
  • In Kent County, 93 homes sold in the first quarter of 2021, compared to 53 first quarter of 2020.
  • In Queen Anne’s County, 243 homes sold in the first quarter of 2021, compared to 187 homes sold the first quarter of 2020.
  • In Talbot County, 188 homes sold, compared to 143 homes sold during the first quarter of 2020.

Homes are selling fast, so work with your REALTOR to make the best offer and be prepared to move quickly when looking for a new home.

  • In Caroline County, homes sold on average in 1.7 months, 21-days faster than first quarter of 2020.
  • In Dorchester County, homes sold on average in 2.1 months, 30-days faster than the first quarter of 2020.
  • In Kent County, homes sold on average in 2 months, 25-days faster than the first quarter of 2020.
  • In Queen Anne’s County, homes sold on average in 1.4 months, 48-days faster than the first quarter of 2020.
  • In Talbot County, homes sold on average in 2.2 months, 65-days faster than the first quarter of 2020.

“All indications signal that this hot housing market will continue and that 2021 will be another good year for the real estate market,” Anderson said.

Interest rates have risen slightly; however, they are still relatively low at 3.%.

“Buyers need to be ready to make offers quickly when they find their dream home,” Anderson added. “There is fierce competition, especially for homes that are move-in ready.”

The Mid Shore Board of REALTORS is an affiliate of the Maryland REALTORS and National Association of REALTORS. They are proud to serve their members and the community; and they work to ensure professionalism in the industry and to protect home ownership and private property rights.

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