Is Saint Michaels, 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, Saint Michaels was a Seller's Market.
Key Takeaway
Saint Michaels is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Saint Michaels, MD
How much do homes in Saint Michaels, MD cost?
Median Sold Price
$711,500
$406/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Saint Michaels have sold for 25.7% more than they did a year ago.
Summary: The median home sold price in Saint Michaels was $711,500 in May 2024, up 25.7% from last year, and the median price per square foot was $406.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $530K | $474.5K | -10.5% |
| 3 Bedrooms | $565K | $615K | +8.8% |
| 4 Bedrooms | $777K | $1.0M | +29.7% |
| 5+ Bedrooms | $1.3M | - | N/A |
Summary: Saint Michaels 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 10.5%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 29.7%, and 5+ bedroom homes did not change.
Housing Supply in Saint Michaels, MD
How many homes are available in Saint Michaels, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 14 | +7.7% |
Summary: The Saint Michaels real estate market had 14 homes for sale in May 2024, a 7.7% 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Saint Michaels 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 12.5%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Saint Michaels, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Saint Michaels in May 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Saint Michaels, MD
How long does it take to sell a home in Saint Michaels, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 4 Days | 32 Days | +611.1% |
Summary: Homes in Saint Michaels had an average of 32 days on market in May 2024, up by 611.1% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Saint Michaels has remained consistent over time.
Summary: During May 2024, 1 homes were sold in Saint Michaels; 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.
