Is McElderry Park, 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, McElderry Park was a Seller's Market.
Key Takeaway
McElderry Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in McElderry Park, MD
How much do homes in McElderry Park, MD cost?
Median Sold Price
$123,000
$109/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in McElderry Park have sold for 16.6% less than they did a year ago.
Summary: The median home sold price in McElderry Park was $123,000 in April 2024, down 16.6% from last year, and the median price per square foot was $109.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $95K | N/A |
| 2 Bedrooms | $124K | $104.7K | -15.6% |
| 3 Bedrooms | $150K | $125K | -16.7% |
| 4 Bedrooms | $215K | $234.5K | +9.1% |
| 5+ Bedrooms | $160K | $197K | +23.1% |
Summary: McElderry Park 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 15.6%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 23.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Patterson Park | $270K | $290K | +7.4% |
| Madison / Eastend | $100.6K | $104.2K | +3.6% |
| Ellwood Park / Monument | $115.5K | $115K | -0.4% |
| McElderry Park | $147.5K | $123K | -16.6% |
| Milton / Montford | $174.9K | $112.5K | -35.7% |
Housing Supply in McElderry Park, MD
How many homes are available in McElderry Park, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 43 | 38 | -11.6% |
Summary: The McElderry Park real estate market had 38 homes for sale in April 2024, a 11.6% decrease 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 | 13 | 11 | -15.4% |
| 3 Bedrooms | 22 | 19 | -13.6% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The McElderry Park 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 decreased by 15.4%, 3 bedroom homes decreased by 13.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 4 | -69.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in McElderry Park, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in McElderry Park in April 2024, down by 69.2% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for McElderry Park, MD
How long does it take to sell a home in McElderry Park, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 66 Days | 117 Days | +76.9% |
Summary: Homes in McElderry Park had an average of 117 days on market in Apr 2024, up by 76.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in McElderry Park are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 4 homes were sold in McElderry Park; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
