Is Sykesville, 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, Sykesville has remained a Seller's Market.
Key Takeaway
Sykesville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sykesville, MD
How much do homes in Sykesville, MD cost?
Median Sold Price
$500,000
$242/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sykesville have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in Sykesville was $500,000 in May 2024, up 6.6% from last year, and the median price per square foot was $242.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $200K | N/A |
| 2 Bedrooms | $270K | $275K | +1.9% |
| 3 Bedrooms | $420K | $425.5K | +1.3% |
| 4 Bedrooms | $581.2K | $625K | +7.5% |
| 5+ Bedrooms | $897.5K | $715K | -20.3% |
Summary: Sykesville 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 1.9%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes decreased by 20.3%.
Housing Supply in Sykesville, MD
How many homes are available in Sykesville, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 90 | 111 | +23.3% |
Summary: The Sykesville real estate market had 111 homes for sale in May 2024, a 23.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 12 | 9 | -25.0% |
| 3 Bedrooms | 24 | 38 | +58.3% |
| 4 Bedrooms | 35 | 47 | +34.3% |
| 5+ Bedrooms | 18 | 16 | -11.1% |
Summary: The Sykesville 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 increased by 58.3%, 4 bedroom homes increased by 34.3%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 27 | 22 | -18.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sykesville, you could pay more than the asking price. 68.2% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Sykesville in May 2024, down by 18.5% month-over-month. Of the 22 sold homes, 23% were sold under asking, 9% were sold at asking, and 68% were sold over asking.
Days on Market for Sykesville, MD
How long does it take to sell a home in Sykesville, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 8 Days | 12 Days | +48.2% |
Summary: Homes in Sykesville had an average of 12 days on market in May 2024, up by 48.2% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sykesville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 22 homes were sold in Sykesville; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
