April 2025 brought several significant market shifts to Talbot County. With more inventory, rising prices, and changing buyer behavior, understanding the current landscape is crucial for making informed real estate decisions. Here’s a comprehensive breakdown of what you need to know.
Market Snapshot:
Closed Sales: 49 (+6.5% YoY)
Median Sold Price: $475,000 (+1.1% YoY)
Active Listings: 199 (+32.7% YoY)
New Listings: 68 (+6.3% YoY)
Average Days on Market: 57 days (+90% YoY)
Sold-to-List Price Ratio: 94.2%
What Buyers Should Know:
With inventory levels rising, buyers have more options than they did a year ago. However, prices remain firm, and homes are taking longer to sell, creating negotiation opportunities.
Top Buyer Tips:
Be ready to negotiate on price, closing costs, or repairs.
Explore mortgage rate buydowns or ARMs to lower monthly payments.
Move quickly on well-priced homes, as inventory is still below historic norms.
What Sellers Should Know:
The market is still favorable for sellers, but the increased days on market and lower sold-to-list ratio mean that overpricing can lead to extended market time and potential price reductions.
Top Seller Strategies:
Price strategically to avoid sitting on the market.
Highlight unique features and upgrades to stand out.
Invest in top-tier marketing to ensure your property is showcased effectively.
Looking Ahead:
The Talbot County market is expected to remain stable through the spring, with buyers and sellers adjusting to evolving market conditions. If you’re planning to buy or sell, now is the time to develop a tailored strategy to achieve your goals.
Contact Julie Stevenson today to discuss your real estate plans and leverage the latest market insights.