Is Federal Hill, 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, Federal Hill has remained a Seller's Market.
Key Takeaway
Federal Hill is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Federal Hill, MD
How much do homes in Federal Hill, MD cost?
Median Sold Price
$315,000
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Federal Hill have sold for 14.9% less than they did a year ago.
Summary: The median home sold price in Federal Hill was $315,000 in April 2024, down 14.9% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $192.5K | $175K | -9.1% |
| 2 Bedrooms | $280K | $275K | -1.8% |
| 3 Bedrooms | $441K | $400K | -9.3% |
| 4 Bedrooms | $448.7K | $625K | +39.3% |
| 5+ Bedrooms | - | $530K | N/A |
Summary: Federal Hill housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.1%, 2 bedroom homes decreased by 1.8%, 3 bedroom homes decreased by 9.3%, 4 bedroom homes increased by 39.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Otterbein | $330K | $340K | +3.0% |
| Federal Hill | $370K | $315K | -14.9% |
Housing Supply in Federal Hill, MD
How many homes are available in Federal Hill, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 32 | +39.1% |
Summary: The Federal Hill real estate market had 32 homes for sale in April 2024, a 39.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 11 | 12 | +9.1% |
| 3 Bedrooms | 6 | 11 | +83.3% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Federal Hill housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 83.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 7 | +75.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Federal Hill, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Federal Hill in April 2024, up by 75.0% month-over-month. Of the 7 sold homes, 29% were sold under asking, 0% were sold at asking, and 71% were sold over asking.
Days on Market for Federal Hill, MD
How long does it take to sell a home in Federal Hill, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 18 Days | 26 Days | +43.1% |
Summary: Homes in Federal Hill had an average of 26 days on market in Apr 2024, up by 43.1% compared to last year.
Breakdown of Home Sale Times
6 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 Federal Hill are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in Federal Hill; 86% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
