Is Bel Air, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Bel Air has remained a Seller's Market.
Key Takeaway
Bel Air is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bel Air, MD
How much do homes in Bel Air, MD cost?
Median Sold Price
$430,000
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Bel Air have sold for 13.2% more than they did a year ago.
Summary: The median home sold price in Bel Air was $430,000 in May 2024, up 13.2% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $173.5K | $175K | +0.9% |
| 2 Bedrooms | $249K | $260K | +4.4% |
| 3 Bedrooms | $372.4K | $375K | +0.7% |
| 4 Bedrooms | $495K | $532.5K | +7.6% |
| 5+ Bedrooms | $600K | $717.4K | +19.6% |
Summary: Bel Air housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.9%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 19.6%.
Housing Supply in Bel Air, MD
How many homes are available in Bel Air, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 153 | 175 | +14.4% |
Summary: The Bel Air real estate market had 175 homes for sale in May 2024, a 14.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 26 | 30 | +15.4% |
| 3 Bedrooms | 51 | 63 | +23.5% |
| 4 Bedrooms | 52 | 56 | +7.7% |
| 5+ Bedrooms | 21 | 24 | +14.3% |
Summary: The Bel Air housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 23.5%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 43 | 37 | -14.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bel Air, you could pay more than the asking price. 48.6% of homes here sold above asking price last month.
Summary: A total of 37 homes were sold or pending in Bel Air in May 2024, down by 14.0% month-over-month. Of the 37 sold homes, 30% were sold under asking, 22% were sold at asking, and 49% were sold over asking.
Days on Market for Bel Air, MD
How long does it take to sell a home in Bel Air, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 8 Days | 17 Days | +101.1% |
Summary: Homes in Bel Air had an average of 17 days on market in May 2024, up by 101.1% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bel Air are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 37 homes were sold in Bel Air; 84% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
