Is Preston, 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, Preston was a Seller's Market.
Key Takeaway
Preston is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Preston, MD
How much do homes in Preston, MD cost?
Median Sold Price
$315,000
$190/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Preston have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in Preston was $315,000 in May 2024, up 3.3% from last year, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $181K | $74K | -59.1% |
| 3 Bedrooms | $290.5K | $289K | -0.5% |
| 4 Bedrooms | $358K | $351.4K | -1.8% |
| 5+ Bedrooms | - | $1.9M | N/A |
Summary: Preston 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 59.1%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes did not change.
Housing Supply in Preston, MD
How many homes are available in Preston, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 15 | -6.3% |
Summary: The Preston real estate market had 15 homes for sale in May 2024, a 6.3% decrease 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 | 3 | 1 | -66.7% |
| 3 Bedrooms | 7 | 9 | +28.6% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Preston 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 66.7%, 3 bedroom homes increased by 28.6%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
0 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 Preston, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in Preston in May 2024, down by 50.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Preston, MD
How long does it take to sell a home in Preston, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 10 Days | 29 Days | +174.4% |
Summary: Homes in Preston had an average of 29 days on market in May 2024, up by 174.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Preston are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Preston; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
