Is Monkton, 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, Monkton has remained a Seller's Market.
Key Takeaway
Monkton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Monkton, MD
How much do homes in Monkton, MD cost?
Median Sold Price
$775,000
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Monkton have sold for 4.9% less than they did a year ago.
Summary: The median home sold price in Monkton was $775,000 in May 2024, down 4.9% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $728K | N/A |
| 3 Bedrooms | $558.5K | $487.6K | -12.7% |
| 4 Bedrooms | $815K | $800.6K | -1.8% |
| 5+ Bedrooms | $840K | $900K | +7.1% |
Summary: Monkton 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 did not change, 3 bedroom homes decreased by 12.7%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes increased by 7.1%.
Median Sold Price Compared To Nearby Cities
| Baldwin | $630K | $664K | +5.4% |
| Phoenix | $700K | $731.2K | +4.5% |
| Sparks Glencoe | $399K | $402.5K | +0.9% |
| White Hall | $510K | $510K | 0.0% |
| Monkton | $815K | $775K | -4.9% |
Housing Supply in Monkton, MD
How many homes are available in Monkton, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 17 | +30.8% |
Summary: The Monkton real estate market had 17 homes for sale in May 2024, a 30.8% 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 | 1 | 2 | +100.0% |
| 4 Bedrooms | 9 | 10 | +11.1% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Monkton 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 100%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Monkton, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Monkton in May 2024, up by 150.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Monkton, MD
How long does it take to sell a home in Monkton, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 2 Days | 30 Days | +1132.0% |
Summary: Homes in Monkton had an average of 30 days on market in May 2024, up by 1132% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Monkton are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Monkton; 80% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
