Is Cambridge, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Cambridge was a Neutral Market.
Housing Prices in Cambridge, MD
How much do homes in Cambridge, MD cost?
Median Sold Price
$259,990
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Cambridge was $259,990 in March 2024, up 4.4% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $391K | N/A |
2 Bedrooms | $180K | $152.5K | -15.3% |
3 Bedrooms | $226.1K | $230K | +1.7% |
4 Bedrooms | $307.8K | $308.4K | 0.2% |
5+ Bedrooms | $300K | $375K | +25.0% |
Summary: Cambridge housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 15.3%, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes increased by 25%.
Housing Supply in Cambridge, MD
How many homes are available in Cambridge, MD?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
238 | 251 | +5.5% |
Summary: The Cambridge real estate market had 251 homes for sale in March 2024, a 5.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 58 | 58 | 0.0% |
3 Bedrooms | 102 | 116 | +13.7% |
4 Bedrooms | 58 | 59 | +1.7% |
5+ Bedrooms | 18 | 16 | -11.1% |
Summary: The Cambridge 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 remained the same, 3 bedroom homes increased by 13.7%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
17 | 19 | +11.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in Cambridge in March 2024, up by 11.8% month-over-month. Of the 19 sold homes, 37% were sold under asking, 42% were sold at asking, and 21% were sold over asking.
Days on Market for Cambridge, MD
How long does it take to sell a home in Cambridge, MD?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
57 Days | 70 Days | +23.4% |
Summary: Homes in Cambridge had an average of 70 days on market in Mar 2024, up by 23.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 19 homes were sold in Cambridge; 32% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 26% of homes were sold over 90 days.