Is North East, 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, North East has remained a Seller's Market.
Housing Prices in North East, MD
How much do homes in North East, MD cost?
Median Sold Price
$350,000
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in North East was $350,000 in May 2024, up 9.4% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $279.5K | $265K | -5.2% |
3 Bedrooms | $295K | $305K | +3.4% |
4 Bedrooms | $457K | $455K | -0.4% |
5+ Bedrooms | $440.1K | $482.4K | +9.6% |
Summary: North East 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 5.2%, 3 bedroom homes increased by 3.4%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes increased by 9.6%.
Housing Supply in North East, MD
How many homes are available in North East, MD?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
70 | 76 | +8.6% |
Summary: The North East real estate market had 76 homes for sale in May 2024, a 8.6% 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 | 4 | 5 | +25.0% |
3 Bedrooms | 25 | 34 | +36.0% |
4 Bedrooms | 34 | 31 | -8.8% |
5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The North East 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 25%, 3 bedroom homes increased by 36%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 14 | +16.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in North East in May 2024, up by 16.7% month-over-month. Of the 14 sold homes, 21% were sold under asking, 29% were sold at asking, and 50% were sold over asking.
Days on Market for North East, MD
How long does it take to sell a home in North East, MD?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
6 Days | 10 Days | +67.8% |
Summary: Homes in North East had an average of 10 days on market in May 2024, up by 67.8% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 14 homes were sold in North East; 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.