Is Galena, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Galena has remained a Buyer's Market.
Key Takeaway
Galena is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Galena, MD
How much do homes in Galena, MD cost?
Median Sold Price
$238,500
$109/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Galena have sold for 61.5% less than they did a month ago.
Summary: The median home sold price in Galena was $238,500 in March 2024, down 61.5% from last month, and the median price per square foot was $109.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $620K | - | N/A |
| 3 Bedrooms | - | - | N/A |
| 4 Bedrooms | - | $238.5K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Galena housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Galena, MD
How many homes are available in Galena, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 | 11 | -8.3% |
Summary: The Galena real estate market had 11 homes for sale in March 2024, a 8.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 2 | 2 | 0.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Galena housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Galena, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Galena in March 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Galena, MD
How long does it take to sell a home in Galena, MD?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 Days | 9 Days | -25.0% |
Summary: Homes in Galena had an average of 9 days on market in Mar 2024, down by 25% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Galena are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 1 homes were sold in Galena; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
