Is Elkton, 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, Elkton was a Seller's Market.
Key Takeaway
Elkton is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Elkton, MD
How much do homes in Elkton, MD cost?
Median Sold Price
$325,000
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Elkton have sold for 14% more than they did a year ago.
Summary: The median home sold price in Elkton was $325,000 in March 2024, up 14% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $195.5K | $225K | +15.1% |
| 3 Bedrooms | $248K | $299.9K | +20.9% |
| 4 Bedrooms | $369K | $380K | +3.0% |
| 5+ Bedrooms | $520K | $550K | +5.8% |
Summary: Elkton 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 15.1%, 3 bedroom homes increased by 20.9%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 5.8%.
Median Sold Price Compared To Nearby Cities
| Elkton | $285K | $325K | +14.0% |
| Glasgow | $385.6K | $393K | +1.9% |
Housing Supply in Elkton, MD
How many homes are available in Elkton, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 135 | 137 | +1.5% |
Summary: The Elkton real estate market had 137 homes for sale in March 2024, a 1.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 12 | 13 | +8.3% |
| 3 Bedrooms | 59 | 52 | -11.9% |
| 4 Bedrooms | 51 | 56 | +9.8% |
| 5+ Bedrooms | 13 | 15 | +15.4% |
Summary: The Elkton housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 8.3%, 3 bedroom homes decreased by 11.9%, 4 bedroom homes increased by 9.8%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 38 | 18 | -52.6% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elkton, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Elkton in March 2024, down by 52.6% month-over-month. Of the 18 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% were sold over asking.
Days on Market for Elkton, MD
How long does it take to sell a home in Elkton, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 15 Days | 19 Days | +24.5% |
Summary: Homes in Elkton had an average of 19 days on market in Mar 2024, up by 24.5% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elkton are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 18 homes were sold in Elkton; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
