Is Ridgely, 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, Ridgely has remained a Seller's Market.
Key Takeaway
Ridgely is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ridgely, MD
How much do homes in Ridgely, MD cost?
Median Sold Price
$333,925
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ridgely have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in Ridgely was $333,925 in May 2024, up 6.9% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | - | N/A |
| 2 Bedrooms | $211.5K | $295.5K | +39.7% |
| 3 Bedrooms | $290K | $327.9K | +13.1% |
| 4 Bedrooms | $330K | $355.7K | +7.8% |
| 5+ Bedrooms | $369K | $429.9K | +16.5% |
Summary: Ridgely 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 39.7%, 3 bedroom homes increased by 13.1%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 16.5%.
Housing Supply in Ridgely, MD
How many homes are available in Ridgely, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 16 | +14.3% |
Summary: The Ridgely real estate market had 16 homes for sale in May 2024, a 14.3% 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 | 9 | 10 | +11.1% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Ridgely 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 11.1%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ridgely, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Ridgely in May 2024, up by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Ridgely, MD
How long does it take to sell a home in Ridgely, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 42 Days | -2.1% |
Summary: Homes in Ridgely had an average of 42 days on market in May 2024, down by 2.1% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Ridgely has remained consistent over time.
Summary: During May 2024, 3 homes were sold in Ridgely; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
