Is Elkridge, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Elkridge has remained a Seller's Market.
Key Takeaway
Elkridge is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elkridge, MD
How much do homes in Elkridge, MD cost?
Median Sold Price
$452,500
$243/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Elkridge have sold for 5.2% more than they did a year ago.
Summary: The median home sold price in Elkridge was $452,500 in April 2024, up 5.2% from last year, and the median price per square foot was $243.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $100K | - | N/A |
| 2 Bedrooms | $305K | $270K | -11.5% |
| 3 Bedrooms | $425K | $439.4K | +3.4% |
| 4 Bedrooms | $550K | $582.7K | +6.0% |
| 5+ Bedrooms | $620K | $662.5K | +6.9% |
Summary: Elkridge 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 decreased by 11.5%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 6.9%.
Median Sold Price Compared To Nearby Neighborhoods
| Jessup | $472K | $528.5K | +12.0% |
| Ilchester | $465K | $499K | +7.3% |
| Elkridge | $430K | $452.5K | +5.2% |
Housing Supply in Elkridge, MD
How many homes are available in Elkridge, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 60 | 63 | +5.0% |
Summary: The Elkridge real estate market had 63 homes for sale in April 2024, a 5.0% 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 | 13 | 8 | -38.5% |
| 3 Bedrooms | 24 | 29 | +20.8% |
| 4 Bedrooms | 18 | 20 | +11.1% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Elkridge 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 decreased by 38.5%, 3 bedroom homes increased by 20.8%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 27 | 18 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elkridge, you could pay more than the asking price. 72.2% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in Elkridge in April 2024, down by 33.3% month-over-month. Of the 18 sold homes, 11% were sold under asking, 17% were sold at asking, and 72% were sold over asking.
Days on Market for Elkridge, MD
How long does it take to sell a home in Elkridge, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 17 Days | 13 Days | -24.2% |
Summary: Homes in Elkridge had an average of 13 days on market in Apr 2024, down by 24.2% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Elkridge are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 18 homes were sold in Elkridge; 94% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
