Is Manchester, 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, Manchester has remained a Seller's Market.
Key Takeaway
Manchester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Manchester, MD
How much do homes in Manchester, MD cost?
Median Sold Price
$440,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Manchester have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Manchester was $440,000 in May 2024, up 6.7% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $400K | $298.3K | -25.4% |
| 3 Bedrooms | $339.5K | $375K | +10.5% |
| 4 Bedrooms | $439K | $540K | +23.0% |
| 5+ Bedrooms | $615K | $572.5K | -6.9% |
Summary: Manchester 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 decreased by 25.4%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 23%, and 5+ bedroom homes decreased by 6.9%.
Housing Supply in Manchester, MD
How many homes are available in Manchester, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 29 | +11.5% |
Summary: The Manchester real estate market had 29 homes for sale in May 2024, a 11.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 11 | 12 | +9.1% |
| 4 Bedrooms | 10 | 14 | +40.0% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The Manchester 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 remained the same, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 40%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Manchester, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Manchester in May 2024, down by 16.7% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for Manchester, MD
How long does it take to sell a home in Manchester, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 5 Days | 5 Days | -10.3% |
Summary: Homes in Manchester had an average of 5 days on market in May 2024, down by 10.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Manchester are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Manchester; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
