Is Finksburg, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Finksburg has remained a Seller's Market.
Key Takeaway
Finksburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Finksburg, MD cost?
Median Sold Price
$500,000
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Finksburg have sold for 12.4% more than they did a year ago.
Summary: The median home sold price in Finksburg was $500,000 in August 2023, up 12.4% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $185K | $274.9K | +48.6% |
| 3 Bedrooms | $411K | $430K | +4.6% |
| 4 Bedrooms | $460K | $549K | +19.3% |
| 5+ Bedrooms | $673.5K | $844.4K | +25.4% |
Summary: Finksburg housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 48.6%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 19.3%, and 5+ bedroom homes increased by 25.4%.
Median Sold Price Compared To Nearby Cities
| Finksburg | $445K | $500K | +12.4% |
| Reisterstown | $343K | $376K | +9.6% |
| Owings Mills | $320K | $349.3K | +9.2% |
Housing Supply
How many homes are available in Finksburg, MD?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 42 | 46 | +9.5% |
Summary: The Finksburg real estate market had 46 homes for sale in August 2023, a 9.5% increase compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 9 | 8 | -11.1% |
| 4 Bedrooms | 21 | 25 | +19.0% |
| 5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The Finksburg housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.1%, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 2 | 11 | +450.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Finksburg, expect to pay close to the asking price. 54.5% of homes here sold near the asking price last month.
Summary: A total of 11 homes were sold or pending in Finksburg in August 2023, up by 450.0% month-over-month. Of the 11 sold homes, 27% were sold under asking, 55% were sold at asking, and 18% were sold over asking.
Days on Market
How long does it take to sell a home in Finksburg, MD?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 11 Days | 22 Days | +96.2% |
Summary: Homes in Finksburg had an average of 22 days on market in Aug 2023, up by 96.2% compared to last year.
Breakdown of Home Sale Times
7 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 Finksburg are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 11 homes were sold in Finksburg; 64% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
