Is Great Mills, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Great Mills was a Seller's Market.
Key Takeaway
Great Mills is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Great Mills, MD
How much do homes in Great Mills, MD cost?
Median Sold Price
$302,500
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Great Mills have sold for 3.5% less than they did a year ago.
Summary: The median home sold price in Great Mills was $302,500 in May 2024, down 3.5% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $187.5K | N/A |
| 2 Bedrooms | $212.5K | $221.5K | +4.2% |
| 3 Bedrooms | $255K | $265K | +3.9% |
| 4 Bedrooms | $380K | $379.9K | 0% |
| 5+ Bedrooms | $439K | $452.5K | +3.1% |
Summary: Great Mills housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 3.9%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 3.1%.
Median Sold Price Compared To Nearby Cities
| Lexington Park | $350K | $350K | 0.0% |
| California | $360K | $355K | -1.4% |
| Great Mills | $313.5K | $302.5K | -3.5% |
Housing Supply in Great Mills, MD
How many homes are available in Great Mills, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 28 | +33.3% |
Summary: The Great Mills real estate market had 28 homes for sale in May 2024, a 33.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 7 | 10 | +42.9% |
| 4 Bedrooms | 11 | 12 | +9.1% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The Great Mills housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 42.9%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Great Mills, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Great Mills in May 2024, down by 20.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Great Mills, MD
How long does it take to sell a home in Great Mills, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 23 Days | 30 Days | +27.3% |
Summary: Homes in Great Mills had an average of 30 days on market in May 2024, up by 27.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Great Mills are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Great Mills; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
