January 25, 2012
By Marie Wroten
The Eastern Shore is experiencing an upswing in buyer activity for the last few months. In a year where there were very few multi-million dollar sales, the big buyers are out and making offers! The number of pending sales for December 2011 is up 31% in Talbot County over last year. The average sale price has increased by 18%,which is a positive sign for sellers. However, this does not mean you can over price your house and expect someone to buy it! Buyers are shopping on the internet and keeping a close eye on prices and interest rates. They WILL NOT overpay for a property! The good news is that interest rates are at an all time low, property prices have dropped dramatically, and motivated sellers are moving the market along nicely. Once some of the inventory sells, we will start to see a stabilization in prices, but that is still a few years away. Keep your eyes peeled for good deals and take advantage of the buyer's market!