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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elkton is a seller's market

Buyer's
Market

Difference Since November 2021

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

Key Takeaway

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

How much do homes in Elkton, MD cost?

Median Sold Price

$241,000

$154/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$5,500(+2.3%)

Key Takeaway

Homes in Elkton have sold for 2.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 -$138K
N/A
2 $170.1K$197K
+15.8%
3 $225K$235K
+4.4%
4 $295K$297.5K
+0.8%
5+ $362.5K$495K
+36.6%

Median Sold Price Compared To Nearby Cities

Glasgow
+9.7%
Elkton
+2.3%

How many homes are available in Elkton, MD?

Number of Homes For Sale

Oct 2022Nov 2022%
3742+13.5%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 00
0.0%
2 57
+40.0%
3 2122
+4.8%
4 1112
+9.1%
5+ 01
+100.0%

Number of Homes Sold

Oct 2022Nov 2022%
610+66.7%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elkton, you could pay more than the asking price. 40% of homes here sold above asking price last month.

Average Sale Time

Nov 2021Nov 2022%
13 Days8 Days-38.0%

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Elkton 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 Elkton, MD

There are 42 homes are for sale in Elkton, MD real estate market. Between October 2022 and November 2022, Elkton, MD real estate market has seen increase in the number of listings by 13.5%. The median list price of listings available in November 2022 was $241,000, while the average time on the real estate market was 8 days. From October 2022 through November 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties became 0% more expensive, 2 bedrooms properties prices increased by 15.8%, 3 bedrooms properties became 4.4% more expensive, prices of 4 bedrooms properties increased by 0.8%, 5 bedrooms properties prices increased by 36.6%. Volume of homes for sale in this real estate market have seen the following changes: the quantity of 1 bedroom homes have not changed, 2 bedrooms homes inventory increased by 40%, 3 bedrooms homes inventory increased by 4.8%, number of 4 bedrooms homes increased by 9.1%, number of 5 bedrooms homes increased by 100%. Over 4 listings were sold over their listed price in November 2022 in Elkton, MD. In the same period over 3 listings were sold below the listed price and 3 listings were sold for the listed price.

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