Is Melvale Heights, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Melvale Heights has remained a Seller's Market.
Housing Prices in Melvale Heights, MD
How much do homes in Melvale Heights, MD cost?
Median Sold Price
$287,500
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Melvale Heights was $287,500 in April 2024, up 10.6% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $290K | $275K | -5.2% |
3 Bedrooms | $247.5K | $287.5K | +16.2% |
4 Bedrooms | $325K | $328K | +0.9% |
5+ Bedrooms | - | - | N/A |
Summary: Melvale Heights 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 5.2%, 3 bedroom homes increased by 16.2%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
Medfield | $253.7K | $300K | +18.2% |
Hoes Heights | $274.7K | $309.5K | +12.6% |
Melvale Heights | $260K | $287.5K | +10.6% |
Roland Ridge Apartment Homes | $83.5K | $88.7K | +6.3% |
Housing Supply in Melvale Heights, MD
How many homes are available in Melvale Heights, MD?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
6 | 7 | +16.7% |
Summary: The Melvale Heights real estate market had 7 homes for sale in April 2024, a 16.7% 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 | 3 | 2 | -33.3% |
4 Bedrooms | 2 | 3 | +50.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Melvale Heights 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 decreased by 33.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1 | 3 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Melvale Heights in April 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Melvale Heights, MD
How long does it take to sell a home in Melvale Heights, MD?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
34 Days | 65 Days | +91.2% |
Summary: Homes in Melvale Heights had an average of 65 days on market in Apr 2024, up by 91.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 3 homes were sold in Melvale Heights; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.