Delmar is a city in Maryland. It's less affluent than average and the cost of living is less expensive compared to the rest of the state, with a median income of $48,945 per household and cost of living adjustment score of 100.2. With a median age of 31 years, homes in Delmar tend to be relatively old. The top school in the city is Delmar Elementary School.
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The Delmar market reported another in a series of 30-day periods with zero home sales. Delmar usually averages 3.4 sales per month.
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Once again, no deals were completed in the Delmar market over the last 30 days. Delmar is used to having 3.4 sales per month.
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The Delmar market slowed with an 80.0% sales drop in this week's report. Overall sales numbers for the last 30 days fell below the 3.5 monthly average with one home sold. In comparison, nearby Salisbury had 11 sales in the same time frame, the most of all neighboring cities. The median sales price dropped dramatically to $15,000, down from last week's $47,900. Delmar is a definite buyer's market, thanks to a big 19 months of inventory to choose from and a pullback in sales.
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The number of homes coming into the Delmar market fell to five listings over the last 30 days, while sales remained right where they were as once again five homes were sold over the same period. There are four months of inventory remaining in the market, and that will likely remain the case as the median sales price stayed flat at $47,900 this week.
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Delmar is an average-sized city in Maryland with 3,003 residents. Its population is growing faster than the rest of the state, at a 10-year growth rate of 27.9%. The Delmar market mostly consists of detached houses, accounting for 68% of the current homes in the area. Topping the list of best schools in the city is Delmar Elementary School.
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$159K  
Sales fell this week to five homes sold in the Delmar market over the last 30 days. However, a six-week positive trend for contracts was extended, with 10 pending transactions in the same time frame. Potential buyers should note that there are now four months of inventory available in Delmar and prices have come down. The median sales price tumbled to $47,900.
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$139K  
With a budding upward trend of new sellers listing homes, including seven over the last 30 days, and sales that have fallen to seven in that same time frame, the Delmar market will be more selective. The median sales price dropped to $70,000, down from last week's $94,950. In spite of the decrease in sales, a low three months of inventory signals that Delmar is a seller's market.
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$205K  
The Delmar market was busy in this week's report, as the number of home sales jumped 75.0%, pushing the total to seven homes sold over the last 30 days. In comparison, nearby Salisbury had 28 sales in the same time frame, the most of all neighboring cities. Prices are rising in Delmar, and the median sales price this period increased from $117,500 to $119,900. With only three months of inventory and rising sales, Delmar is a seller's market.
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$129K  
Over the last 30 days, sales in the Delmar market fell to four. However, the number of pending transactions continued to improve, reaching a total of five during the same period. The median sales price dropped to $117,500 over the latest reporting period for Delmar, down from $127,500.
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