Is Allegany County, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Allegany County has remained a Buyer's Market.
Key Takeaway
Allegany County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Allegany County, MD
How much do homes in Allegany County, MD cost?
Median Sold Price
$135,485
$93/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in Allegany County has remained the same since last year.
Summary: The median home sold price in Allegany County was $135,485 in March 2024, up 0.4% from last year, and the median price per square foot was $93.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $60K | $75K | +25.0% |
| 2 Bedrooms | $96K | $101K | +5.2% |
| 3 Bedrooms | $135K | $142K | +5.2% |
| 4 Bedrooms | $200K | $188.7K | -5.6% |
| 5+ Bedrooms | $299.9K | $172K | -42.6% |
Summary: Allegany County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 5.2%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes decreased by 42.6%.
Median Sold Price Compared To Nearby Counties
| Hampshire County | $210K | $249.9K | +19.0% |
| Mineral County | $159.5K | $188.5K | +18.2% |
| Morgan County | $270K | $289.9K | +7.4% |
| Allegany County | $134.9K | $135.4K | 0.4% |
Housing Supply in Allegany County, MD
How many homes are available in Allegany County, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 456 | 466 | +2.2% |
Summary: The Allegany County real estate market had 466 homes for sale in March 2024, a 2.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 77 | 71 | -7.8% |
| 3 Bedrooms | 249 | 257 | +3.2% |
| 4 Bedrooms | 83 | 89 | +7.2% |
| 5+ Bedrooms | 43 | 45 | +4.7% |
Summary: The Allegany County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 7.8%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 4.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 33 | 40 | +21.2% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Allegany County, you may be able to get a good deal. 65% of homes here sold below asking price last month.
Summary: A total of 40 homes were sold or pending in Allegany County in March 2024, up by 21.2% month-over-month. Of the 40 sold homes, 65% were sold under asking, 10% were sold at asking, and 25% were sold over asking.
Days on Market for Allegany County, MD
How long does it take to sell a home in Allegany County, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 56 Days | 60 Days | +8.0% |
Summary: Homes in Allegany County had an average of 60 days on market in Mar 2024, up by 8% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Allegany County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 40 homes were sold in Allegany County; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
