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.
Key Takeaway
Bel Air is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
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
Key Takeaway
Homes in Bel Air have sold for 18% more than they did a year ago.
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
Key Takeaway
If you're buying a home in Bel Air, you could pay more than the asking price. 45.2% of homes here sold above asking price last month.
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
Key Takeaway
Many homes in Bel Air are selling fast, if you're buying plan to act quickly.
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.
