Is Ilchester, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Ilchester has remained a Seller's Market.
Key Takeaway
Ilchester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ilchester, MD
How much do homes in Ilchester, MD cost?
Median Sold Price
$493,750
$259/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Ilchester have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in Ilchester was $493,750 in March 2024, up 6.2% from last year, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $316.9K | $307K | -3.1% |
| 3 Bedrooms | $431.5K | $460K | +6.6% |
| 4 Bedrooms | $690.5K | $725K | +5.0% |
| 5+ Bedrooms | $855K | $850K | -0.6% |
Summary: Ilchester 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 decreased by 3.1%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 5%, and 5+ bedroom homes decreased by 0.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Columbia | $427.7K | $463.2K | +8.3% |
| Elkridge | $430K | $460K | +7.0% |
| Ilchester | $465K | $493.7K | +6.2% |
| Ellicott City | $656.2K | $631.2K | -3.8% |
Housing Supply in Ilchester, MD
How many homes are available in Ilchester, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 74 | 76 | +2.7% |
Summary: The Ilchester real estate market had 76 homes for sale in March 2024, a 2.7% increase 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 | 16 | 22 | +37.5% |
| 3 Bedrooms | 21 | 18 | -14.3% |
| 4 Bedrooms | 28 | 27 | -3.6% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Ilchester 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 increased by 37.5%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 | 20 | -4.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ilchester, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in Ilchester in March 2024, down by 4.8% month-over-month. Of the 20 sold homes, 35% were sold under asking, 15% were sold at asking, and 50% were sold over asking.
Days on Market for Ilchester, MD
How long does it take to sell a home in Ilchester, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 12 Days | 17 Days | +33.4% |
Summary: Homes in Ilchester had an average of 17 days on market in Mar 2024, up by 33.4% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Ilchester are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 20 homes were sold in Ilchester; 90% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
