Is Cumberland, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cumberland is a seller's market

Buyer's
Market

Difference Since August 2021

Since last year, Cumberland has remained a Seller's Market.

Key Takeaway

Cumberland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Cumberland, MD cost?

Median Sold Price

$95,000

$71/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

-$9,000(-8.7%)

Key Takeaway

Homes in Cumberland have sold for 8.7% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $27.5K-
N/A
2 $91.4K$80K
-12.5%
3 $93.2K$90K
-3.4%
4 $135K$160K
+18.5%
5+ $141.5K$309.9K
+119.0%

How many homes are available in Cumberland, MD?

Number of Homes For Sale

Jul 2022Aug 2022%
96129+34.4%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 22
0.0%
2 2331
+34.8%
3 5168
+33.3%
4 1320
+53.8%
5+ 78
+14.3%

Number of Homes Sold

Jul 2022Aug 2022%
223+1050.0%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cumberland, you may be able to get a good deal. 60.9% of homes here sold below asking price last month.

Average Sale Time

Aug 2021Aug 2022%
36 Days45 Days+27.1%

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Cumberland are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Cumberland, MD

There are 129 homes are for sale in Cumberland, MD real estate market. In August 2022 in Cumberland, MD there were 34.4% more homes for sale than in July 2022. In August 2022 median list price was $95,000 and the average listing age was 45 days. Listing prices have changed in this real estate market between July 2022 and August 2022: prices of 1 bedroom properties increased by 0%, 2 bedrooms properties prices decreased by 12.5%, the cost of 3 bedrooms properties went down by 3.4%, prices of 4 bedrooms properties went up by 18.5%, 5 bedrooms properties prices increased by 119%. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes did not move, 2 bedrooms homes inventory increased by 34.8%, 3 bedrooms homes became 33.3% more available, 4 bedrooms homes became 53.8% more available, number of 5 bedrooms homes increased by 14.3%. Cumberland, MD housing market in August 2022 saw over 4 listings sold above listed price, more than 5 sold at listed price and over 14 sold below.