Is Cheverly, 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, Cheverly was a Seller's Market.
Key Takeaway
Cheverly 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 Cheverly, MD
How much do homes in Cheverly, MD cost?
Median Sold Price
$485,000
$272/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Cheverly have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in Cheverly was $485,000 in March 2024, up 5.4% from last year, and the median price per square foot was $272.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $330K | $359.9K | +9.1% |
| 3 Bedrooms | $454K | $475K | +4.6% |
| 4 Bedrooms | $517.5K | $527.5K | +1.9% |
| 5+ Bedrooms | $492.5K | $535.9K | +8.8% |
Summary: Cheverly 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 increased by 9.1%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes increased by 8.8%.
Median Sold Price Compared To Nearby Cities
| Cheverly | $460K | $485K | +5.4% |
| Bladensburg | $297K | $265K | -10.8% |
Housing Supply in Cheverly, MD
How many homes are available in Cheverly, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 31 | 35 | +12.9% |
Summary: The Cheverly real estate market had 35 homes for sale in March 2024, a 12.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 16 | 15 | -6.3% |
| 4 Bedrooms | 10 | 14 | +40.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Cheverly 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 decreased by 6.3%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cheverly, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Cheverly in March 2024, the same as the previous month. Of the 5 sold homes, 0% were sold under asking, 20% were sold at asking, and 80% were sold over asking.
Days on Market for Cheverly, MD
How long does it take to sell a home in Cheverly, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 5 Days | 5 Days | +5.5% |
Summary: Homes in Cheverly had an average of 5 days on market in Mar 2024, up by 5.5% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cheverly are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Cheverly; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
