Salisbury USDA Loan Rates, Closing Costs & Stats
SALISBURY, MD-DE
USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.
Salisbury's 51 lenders originated 208 USDA loans during 2022. The total origination value was $49,070,000, with an average USDA loan value of $235,913.
Salisbury USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Salisbury
averaged
6.32%
for the week of 2023-05-26, compared to the national average (all USDA variants) of
6.63% for the same period.
Salisbury's average USDA mortgage closing costs are $6,434.
The average rate for the prior week (2023-05-19) was
6.16% and
one month ago for the week of 2023-04-21, the
average rate was 5.77%.
The average rate one year ago was 4.59%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.3%.
Salisbury USDA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Salisbury level.
The top Salisbury USDA lender as defined by loan originations is Meridian Bank Corporation, with
40 USDA loans originated. Their average total fees are
$9,317, which is $491
lower than the next largest lender,
TIDEWATER MORTGAGE SERVICES, INC..
The lowest fee Salisbury USDA lenders (with over 10 loans originated) are
MOVEMENT MORTGAGE, LLC ($7,396), Prosperity Home Mortgage, LLC ($7,438), Meridian Bank Corporation ($9,317), TIDEWATER MORTGAGE SERVICES, INC. ($9,808) and .
The lowest rate Salisbury USDA lenders (with over 10 loans originated) are
Prosperity Home Mortgage, LLC (4.44%), MOVEMENT MORTGAGE, LLC (4.45%), TIDEWATER MORTGAGE SERVICES, INC. (4.56%), Meridian Bank Corporation (4.69%) and .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Salisbury (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $299,900 (2.7%) | $398,367 (3.1%) | 1.11 | 3,932 |
2018-02-01 | $302,450 (2.1%) | $400,528 (3.0%) | 1.10 | 4,033 |
2018-03-01 | $305,000 (1.7%) | $399,568 (1.5%) | 1.07 | 4,114 |
2018-04-01 | $313,900 (4.7%) | $408,972 (3.3%) | 1.06 | 4,240 |
2018-05-01 | $314,950 (5.0%) | $414,187 (3.7%) | 1.05 | 4,351 |
2018-06-01 | $315,000 (3.5%) | $412,790 (1.8%) | 1.05 | 4,385 |
2018-07-01 | $318,500 (3.8%) | $420,570 (3.8%) | 1.06 | 4,255 |
2018-08-01 | $319,000 (2.9%) | $421,832 (3.3%) | 1.07 | 4,256 |
2018-09-01 | $318,000 (2.6%) | $423,225 (3.7%) | 1.07 | 4,322 |
2018-10-01 | $319,990 (4.0%) | $428,235 (4.8%) | 1.08 | 4,305 |
2018-11-01 | $319,945 (4.9%) | $429,268 (5.9%) | 1.08 | 4,206 |
2018-12-01 | $319,000 (6.4%) | $418,898 (5.3%) | 1.10 | 4,023 |
2019-01-01 | $311,975 (4.0%) | $411,295 (3.3%) | 1.08 | 3,849 |
2019-02-01 | $317,450 (5.0%) | $420,094 (4.9%) | 1.07 | 3,992 |
2019-03-01 | $322,833 (5.9%) | $428,725 (7.3%) | 1.08 | 4,085 |
2019-04-01 | $326,550 (4.0%) | $442,940 (8.3%) | 1.04 | 4,188 |
2019-05-01 | $332,447 (5.6%) | $447,301 (8.0%) | 1.04 | 4,196 |
2019-06-01 | $335,000 (6.4%) | $446,625 (8.2%) | 1.05 | 4,208 |
2019-07-01 | $335,950 (5.5%) | $447,802 (6.5%) | 1.05 | 4,054 |
2019-08-01 | $339,000 (6.3%) | $452,284 (7.2%) | 1.06 | 4,019 |
2019-09-01 | $339,450 (6.8%) | $458,410 (8.3%) | 1.07 | 3,763 |
2019-10-01 | $334,950 (4.7%) | $448,357 (4.7%) | 1.08 | 3,855 |
2019-11-01 | $332,995 (4.1%) | $447,569 (4.3%) | 1.09 | 3,700 |
2019-12-01 | $329,900 (3.4%) | $439,774 (5.0%) | 1.10 | 3,462 |
2020-01-01 | $329,900 (5.8%) | $439,308 (6.8%) | 1.10 | 3,326 |
2020-02-01 | $330,200 (4.0%) | $446,776 (6.4%) | 1.08 | 3,362 |
2020-03-01 | $339,100 (5.0%) | $452,153 (5.5%) | 1.06 | 3,389 |
2020-04-01 | $338,125 (3.5%) | $447,343 (1.0%) | 1.06 | 3,405 |
2020-05-01 | $339,990 (2.3%) | $453,168 (1.3%) | 1.03 | 3,290 |
2020-06-01 | $347,738 (3.8%) | $466,216 (4.4%) | 1.02 | 2,889 |
2020-07-01 | $349,450 (4.0%) | $478,846 (6.9%) | 1.01 | 2,516 |
2020-08-01 | $354,900 (4.7%) | $495,805 (9.6%) | 1.02 | 2,231 |
2020-09-01 | $355,948 (4.9%) | $502,776 (9.7%) | 1.02 | 2,043 |
2020-10-01 | $356,990 (6.6%) | $513,515 (14.5%) | 1.02 | 1,890 |
2020-11-01 | $357,391 (7.3%) | $515,829 (15.3%) | 1.05 | 1,747 |
2020-12-01 | $358,475 (8.7%) | $513,464 (16.8%) | 1.07 | 1,620 |
2021-01-01 | $359,658 (9.0%) | $514,872 (17.2%) | 1.07 | 1,447 |
2021-02-01 | $366,495 (11.0%) | $524,290 (17.4%) | 1.07 | 1,251 |
2021-03-01 | $380,750 (12.3%) | $533,148 (17.9%) | 1.08 | 1,206 |
2021-04-01 | $390,145 (15.4%) | $556,118 (24.3%) | 1.06 | 1,167 |
2021-05-01 | $399,900 (17.6%) | $563,051 (24.3%) | 1.06 | 1,118 |
2021-06-01 | $410,450 (18.0%) | $564,754 (21.1%) | 1.08 | 1,238 |
2021-07-01 | $419,900 (20.2%) | $555,173 (15.9%) | 1.11 | 1,326 |
2021-08-01 | $424,950 (19.7%) | $560,936 (13.1%) | 1.13 | 1,286 |
2021-09-01 | $424,248 (19.2%) | $557,719 (10.9%) | 1.13 | 1,313 |
2021-10-01 | $438,500 (22.8%) | $568,664 (10.7%) | 1.17 | 1,331 |
2021-11-01 | $440,675 (23.3%) | $569,292 (10.4%) | 1.18 | 1,249 |
2021-12-01 | $446,950 (24.7%) | $571,648 (11.3%) | 1.21 | 1,092 |
2022-01-01 | $458,000 (27.3%) | $594,297 (15.4%) | 1.24 | 941 |
2022-02-01 | $488,198 (33.2%) | $613,920 (17.1%) | 1.27 | 951 |
2022-03-01 | $489,450 (28.6%) | $606,265 (13.7%) | 1.23 | 1,042 |
2022-04-01 | $499,999 (28.2%) | $643,442 (15.7%) | 1.19 | 1,070 |
2022-05-01 | $499,947 (25.0%) | $655,634 (16.4%) | 1.14 | 1,193 |
2022-06-01 | $499,968 (21.8%) | $638,111 (13.0%) | 1.11 | 1,324 |
2022-07-01 | $509,000 (21.2%) | $662,323 (19.3%) | 1.15 | 1,464 |
2022-08-01 | $499,945 (17.7%) | $661,206 (17.9%) | 1.15 | 1,498 |
2022-09-01 | $499,950 (17.8%) | $661,514 (18.6%) | 1.17 | 1,553 |
2022-10-01 | $505,000 (15.2%) | $654,045 (15.0%) | 1.19 | 1,647 |
2022-11-01 | $499,990 (13.5%) | $649,427 (14.1%) | 1.20 | 1,644 |
2022-12-01 | $494,990 (10.8%) | $632,703 (10.7%) | 1.22 | 1,530 |
2023-01-01 | $497,400 (8.6%) | $639,294 (7.6%) | 1.23 | 1,393 |
2023-02-01 | $505,995 (3.7%) | $653,434 (6.4%) | 1.22 | 1,363 |
2023-03-01 | $502,757 (2.7%) | $653,568 (7.8%) | 1.18 | 1,390 |
2023-04-01 | $529,080 (5.8%) | $676,019 (5.1%) | 1.23 | 1,393 |
Salisbury's median listing price comes in at 123% of the national average.
Salisbury's average listing price for 2023-04-01 was $676,019, a difference of $32,577 (5.1%) versus the prior year and $22,451 versus the prior month.
For the 2023-04-01 period, Salisbury had 1,393 MLS listings, a difference of 3 listings (0%) versus the prior month and 323 listings (30%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Salisbury (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 135 days | 1,798 sqft |
2018-02-01 | 131 days | 1,800 sqft |
2018-03-01 | 119 days | 1,798 sqft |
2018-04-01 | 97 days | 1,800 sqft |
2018-05-01 | 95 days | 1,822 sqft |
2018-06-01 | 99 days | 1,820 sqft |
2018-07-01 | 105 days | 1,851 sqft |
2018-08-01 | 109 days | 1,851 sqft |
2018-09-01 | 110 days | 1,840 sqft |
2018-10-01 | 108 days | 1,840 sqft |
2018-11-01 | 108 days | 1,831 sqft |
2018-12-01 | 120 days | 1,817 sqft |
2019-01-01 | 129 days | 1,800 sqft |
2019-02-01 | 130 days | 1,792 sqft |
2019-03-01 | 121 days | 1,800 sqft |
2019-04-01 | 89 days | 1,849 sqft |
2019-05-01 | 91 days | 1,865 sqft |
2019-06-01 | 95 days | 1,860 sqft |
2019-07-01 | 100 days | 1,870 sqft |
2019-08-01 | 109 days | 1,900 sqft |
2019-09-01 | 115 days | 1,904 sqft |
2019-10-01 | 104 days | 1,880 sqft |
2019-11-01 | 102 days | 1,866 sqft |
2019-12-01 | 115 days | 1,856 sqft |
2020-01-01 | 121 days | 1,854 sqft |
2020-02-01 | 114 days | 1,861 sqft |
2020-03-01 | 98 days | 1,870 sqft |
2020-04-01 | 92 days | 1,873 sqft |
2020-05-01 | 105 days | 1,892 sqft |
2020-06-01 | 113 days | 1,926 sqft |
2020-07-01 | 112 days | 1,952 sqft |
2020-08-01 | 80 days | 1,949 sqft |
2020-09-01 | 68 days | 1,913 sqft |
2020-10-01 | 68 days | 1,900 sqft |
2020-11-01 | 72 days | 1,879 sqft |
2020-12-01 | 81 days | 1,853 sqft |
2021-01-01 | 95 days | 1,845 sqft |
2021-02-01 | 91 days | 1,848 sqft |
2021-03-01 | 76 days | 1,861 sqft |
2021-04-01 | 64 days | 1,857 sqft |
2021-05-01 | 57 days | 1,897 sqft |
2021-06-01 | 47 days | 1,915 sqft |
2021-07-01 | 45 days | 1,917 sqft |
2021-08-01 | 52 days | 1,888 sqft |
2021-09-01 | 54 days | 1,865 sqft |
2021-10-01 | 54 days | 1,883 sqft |
2021-11-01 | 54 days | 1,873 sqft |
2021-12-01 | 68 days | 1,877 sqft |
2022-01-01 | 86 days | 1,894 sqft |
2022-02-01 | 73 days | 1,958 sqft |
2022-03-01 | 45 days | 1,960 sqft |
2022-04-01 | 47 days | 1,971 sqft |
2022-05-01 | 49 days | 2,000 sqft |
2022-06-01 | 45 days | 2,007 sqft |
2022-07-01 | 51 days | 2,016 sqft |
2022-08-01 | 57 days | 2,024 sqft |
2022-09-01 | 60 days | 2,038 sqft |
2022-10-01 | 63 days | 2,049 sqft |
2022-11-01 | 64 days | 2,012 sqft |
2022-12-01 | 81 days | 2,000 sqft |
2023-01-01 | 99 days | 1,993 sqft |
2023-02-01 | 101 days | 2,017 sqft |
2023-03-01 | 66 days | 2,006 sqft |
2023-04-01 | 65 days | 2,023 sqft |
Salisbury's median square footage for active listings during the 2023-04-01 period was 2,023 sqft. One year prior, the average listing was 1,971 sqft.