Is Bel Air, 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, Bel Air has remained a Seller's Market.
Housing Prices in Bel Air, MD
How much do homes in Bel Air, MD cost?
Median Sold Price
$424,875
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Bel Air was $424,875 in March 2024, up 18% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $173.5K | $180K | +3.7% |
2 Bedrooms | $230.5K | $252.9K | +9.7% |
3 Bedrooms | $365K | $375K | +2.7% |
4 Bedrooms | $460K | $535K | +16.3% |
5+ Bedrooms | $550K | $705K | +28.2% |
Summary: Bel Air housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.7%, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 16.3%, and 5+ bedroom homes increased by 28.2%.
Housing Supply in Bel Air, MD
How many homes are available in Bel Air, MD?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
184 | 194 | +5.4% |
Summary: The Bel Air real estate market had 194 homes for sale in March 2024, a 5.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 38 | 37 | -2.6% |
3 Bedrooms | 75 | 81 | +8.0% |
4 Bedrooms | 51 | 53 | +3.9% |
5+ Bedrooms | 18 | 22 | +22.2% |
Summary: The Bel Air housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 2.6%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
51 | 42 | -17.6% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 42 homes were sold or pending in Bel Air in March 2024, down by 17.6% month-over-month. Of the 42 sold homes, 24% were sold under asking, 31% were sold at asking, and 45% were sold over asking.
Days on Market for Bel Air, MD
How long does it take to sell a home in Bel Air, MD?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
17 Days | 28 Days | +65.1% |
Summary: Homes in Bel Air had an average of 28 days on market in Mar 2024, up by 65.1% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 42 homes were sold in Bel Air; 71% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.