Is Manchester, 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, Manchester has remained a Seller's Market.
Key Takeaway
Manchester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Manchester, MD cost?
Median Sold Price
$450,000
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Manchester have sold for 18.4% more than they did a year ago.
Summary: The median home sold price in Manchester was $450,000 in August 2023, up 18.4% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $390K | $400K | +2.6% |
| 3 Bedrooms | $335K | $350K | +4.5% |
| 4 Bedrooms | $400K | $522.5K | +30.6% |
| 5+ Bedrooms | $635K | $595K | -6.3% |
Summary: Manchester 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 2.6%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 30.6%, and 5+ bedroom homes decreased by 6.3%.
Housing Supply
How many homes are available in Manchester, MD?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 37 | 34 | -8.1% |
Summary: The Manchester real estate market had 34 homes for sale in August 2023, a 8.1% decrease 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 | 2 | 1 | -50.0% |
| 3 Bedrooms | 13 | 11 | -15.4% |
| 4 Bedrooms | 17 | 15 | -11.8% |
| 5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Manchester 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 decreased by 50%, 3 bedroom homes decreased by 15.4%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Manchester, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in Manchester in August 2023, down by 11.1% month-over-month. Of the 8 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market
How long does it take to sell a home in Manchester, MD?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 27 Days | 27 Days | 0.0% |
Summary: Homes in Manchester had an average of 27 days on market in Aug 2023, the same as last year.
Breakdown of Home Sale Times
4 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 Manchester are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 8 homes were sold in Manchester; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
