Is Bel Air / Edison, 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, Bel Air / Edison was a Seller's Market.
Key Takeaway
Bel Air / Edison is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Bel Air / Edison, MD
How much do homes in Bel Air / Edison, MD cost?
Median Sold Price
$155,700
$117/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Bel Air / Edison have sold for 19.8% more than they did a year ago.
Summary: The median home sold price in Bel Air / Edison was $155,700 in April 2024, up 19.8% from last year, and the median price per square foot was $117.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $110K | $118.9K | +8.1% |
| 3 Bedrooms | $144.9K | $157.9K | +9.0% |
| 4 Bedrooms | $181K | $205K | +13.3% |
| 5+ Bedrooms | - | $225K | N/A |
Summary: Bel Air / Edison 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 increased by 8.1%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes did not change.
Housing Supply in Bel Air / Edison, MD
How many homes are available in Bel Air / Edison, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 72 | 87 | +20.8% |
Summary: The Bel Air / Edison real estate market had 87 homes for sale in April 2024, a 20.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 11 | 15 | +36.4% |
| 3 Bedrooms | 49 | 59 | +20.4% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Bel Air / Edison 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 increased by 36.4%, 3 bedroom homes increased by 20.4%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 11 | -15.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bel Air / Edison, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Bel Air / Edison in April 2024, down by 15.4% month-over-month. Of the 11 sold homes, 36% were sold under asking, 18% were sold at asking, and 45% were sold over asking.
Days on Market for Bel Air / Edison, MD
How long does it take to sell a home in Bel Air / Edison, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 24 Days | 26 Days | +5.3% |
Summary: Homes in Bel Air / Edison had an average of 26 days on market in Apr 2024, up by 5.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Bel Air / Edison are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 11 homes were sold in Bel Air / Edison; 73% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
