Is North Beach, 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, North Beach has remained a Seller's Market.
Key Takeaway
North Beach is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in North Beach, MD
How much do homes in North Beach, MD cost?
Median Sold Price
$430,000
$260/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in North Beach have sold for 16.2% more than they did a year ago.
Summary: The median home sold price in North Beach was $430,000 in May 2024, up 16.2% from last year, and the median price per square foot was $260.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $240K | N/A |
| 2 Bedrooms | $274K | $395K | +44.2% |
| 3 Bedrooms | $369K | $415K | +12.5% |
| 4 Bedrooms | $492K | $515K | +4.7% |
| 5+ Bedrooms | $615K | $770.5K | +25.3% |
Summary: North Beach 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 44.2%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 25.3%.
Median Sold Price Compared To Nearby Cities
| Chesapeake Beach | $381.5K | $497K | +30.3% |
| North Beach | $370K | $430K | +16.2% |
| North Beach | $368.2K | $415K | +12.7% |
Housing Supply in North Beach, MD
How many homes are available in North Beach, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 33 | 35 | +6.1% |
Summary: The North Beach real estate market had 35 homes for sale in May 2024, a 6.1% 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 20 | 20 | 0.0% |
| 4 Bedrooms | 7 | 9 | +28.6% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The North Beach 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 decreased by 25%, 3 bedroom homes remained the same, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Beach, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in North Beach in May 2024, the same as the previous month. Of the 9 sold homes, 11% were sold under asking, 33% were sold at asking, and 56% were sold over asking.
Days on Market for North Beach, MD
How long does it take to sell a home in North Beach, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 4 Days | 16 Days | +241.9% |
Summary: Homes in North Beach had an average of 16 days on market in May 2024, up by 241.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Beach are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in North Beach; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
