Is Mayo, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Mayo was a Seller's Market.
Housing Prices in Mayo, MD
How much do homes in Mayo, MD cost?
Median Sold Price
$670,000
$285/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Mayo was $670,000 in April 2024, up 7.2% from last year, and the median price per square foot was $285.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $210K | - | N/A |
2 Bedrooms | $350K | $340K | -2.9% |
3 Bedrooms | $555K | $535K | -3.6% |
4 Bedrooms | $635K | $720.5K | +13.5% |
5+ Bedrooms | $780K | $743K | -4.7% |
Summary: Mayo housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.9%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes decreased by 4.7%.
Housing Supply in Mayo, MD
How many homes are available in Mayo, MD?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
35 | 41 | +17.1% |
Summary: The Mayo real estate market had 41 homes for sale in April 2024, a 17.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 1 | +100.0% |
3 Bedrooms | 12 | 13 | +8.3% |
4 Bedrooms | 17 | 22 | +29.4% |
5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Mayo housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 29.4%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
11 | 6 | -45.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Mayo in April 2024, down by 45.5% month-over-month. Of the 6 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Mayo, MD
How long does it take to sell a home in Mayo, MD?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
36 Days | 54 Days | +46.7% |
Summary: Homes in Mayo had an average of 54 days on market in Apr 2024, up by 46.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 6 homes were sold in Mayo; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.