January 2025 Market Update
The start of 2025 brings evolving market dynamics in Talbot County. With rising home prices, growing inventory, and shifting mortgage rates, both buyers and sellers have opportunities—if they navigate the market strategically. Here’s what you need to know about the latest real estate trends.
Market Snapshot
- Closed Sales: 39 (+39.3% YoY)
- Median Sold Price: $720,000 (+6.3% YoY)
- New Listings: 41 (-4.7% YoY)
- Active Listings: 145 (+46.5% YoY)
- Median Days on Market: 30 days (+6 days YoY)
- Sold-to-Original List Price Ratio: 92.2% (down from 97.8% in December)
For Buyers: More Inventory, But Stay Competitive
The increase in active listings (+46.5% YoY) offers more options for buyers, but well-priced homes continue to move quickly. The median days on market is now 30 days, so buyers should act decisively when they find a home they love.
Interest rates are still a factor. While rates hover around 7%, potential future declines could increase demand. Buyers who can lock in today’s prices may benefit before competition heats up further.
For Sellers: Pricing & Presentation Are Key
With more listings hitting the market, sellers need a smart pricing strategy. The average sold-to-list price ratio has dipped to 92.2%, meaning homes that are overpriced are seeing price reductions.
Top tips for sellers:
- Stage & market effectively – First impressions matter more than ever.
- Price competitively – Overpricing leads to extended market time.
- Be flexible in negotiations – With more listings available, buyers expect some concessions.
Looking Ahead: What’s Next for Talbot County Real Estate?
With more inventory on the market, buyers have more negotiating power, while sellers need to focus on pricing and marketing strategy. Mortgage rates will be the deciding factor in how the market shifts in 2025.
Want to discuss your next move? Let’s connect to build a strategy that works for you.