Is Westminster, 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, Westminster was a Seller's Market.
Key Takeaway
Westminster is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Westminster, MD
How much do homes in Westminster, MD cost?
Median Sold Price
$435,000
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Westminster have sold for 11.5% more than they did a year ago.
Summary: The median home sold price in Westminster was $435,000 in May 2024, up 11.5% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220K | $153.7K | -30.1% |
| 2 Bedrooms | $243.5K | $307K | +26.1% |
| 3 Bedrooms | $335K | $355K | +6.0% |
| 4 Bedrooms | $505K | $510K | +1.0% |
| 5+ Bedrooms | $655.5K | $739.9K | +12.9% |
Summary: Westminster housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 30.1%, 2 bedroom homes increased by 26.1%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 12.9%.
Housing Supply in Westminster, MD
How many homes are available in Westminster, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 129 | 157 | +21.7% |
Summary: The Westminster real estate market had 157 homes for sale in May 2024, a 21.7% 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 | 16 | 15 | -6.3% |
| 3 Bedrooms | 55 | 74 | +34.5% |
| 4 Bedrooms | 42 | 46 | +9.5% |
| 5+ Bedrooms | 16 | 22 | +37.5% |
Summary: The Westminster 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 6.3%, 3 bedroom homes increased by 34.5%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes increased by 37.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 35 | 25 | -28.6% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westminster, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in Westminster in May 2024, down by 28.6% month-over-month. Of the 25 sold homes, 28% were sold under asking, 12% were sold at asking, and 60% were sold over asking.
Days on Market for Westminster, MD
How long does it take to sell a home in Westminster, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 29 Days | 18 Days | -35.5% |
Summary: Homes in Westminster had an average of 18 days on market in May 2024, down by 35.5% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Westminster are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 25 homes were sold in Westminster; 88% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
