Is Bay Ridge, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Bay Ridge was a Seller's Market.
Key Takeaway
Bay Ridge 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 Bay Ridge, MD
How much do homes in Bay Ridge, MD cost?
Median Sold Price
$1,775,000
$526/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Bay Ridge have sold for 19.3% less than they did a year ago.
Summary: The median home sold price in Bay Ridge was $1,775,000 in April 2024, down 19.3% from last year, and the median price per square foot was $526.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $1.7M | $839K | -52.4% |
| 4 Bedrooms | $2.2M | $1.7M | -20.5% |
| 5+ Bedrooms | $2.3M | $3.1M | +30.5% |
Summary: Bay Ridge housing prices by bedroom type for April 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 52.4%, 4 bedroom homes decreased by 20.5%, and 5+ bedroom homes increased by 30.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Annapolis Neck | $637.5K | $678.3K | +6.4% |
| Bay Ridge | $2.2M | $1.7M | -19.3% |
Housing Supply in Bay Ridge, MD
How many homes are available in Bay Ridge, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Summary: The Bay Ridge real estate market had 7 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 0 | 0 | 0.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Bay Ridge housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bay Ridge, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in Bay Ridge in April 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Bay Ridge, MD
How long does it take to sell a home in Bay Ridge, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 8 Days | 143 Days | +1687.5% |
Summary: Homes in Bay Ridge had an average of 143 days on market in Apr 2024, up by 1687.5% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Bay Ridge are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 1 homes were sold in Bay Ridge; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
