Is Newburg, 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, Newburg has remained a Buyer's Market.
Key Takeaway
Newburg is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Newburg, MD
How much do homes in Newburg, MD cost?
Median Sold Price
$340,000
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Newburg have sold for 10.1% less than they did a year ago.
Summary: The median home sold price in Newburg was $340,000 in March 2024, down 10.1% from last year, and the median price per square foot was $212.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $24.8K | $150K | +503.4% |
| 2 Bedrooms | $208.5K | $282K | +35.2% |
| 3 Bedrooms | $384.9K | $310K | -19.5% |
| 4 Bedrooms | $497.5K | $455K | -8.5% |
| 5+ Bedrooms | $1.4M | $692.5K | -52.2% |
Summary: Newburg housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 503.4%, 2 bedroom homes increased by 35.2%, 3 bedroom homes decreased by 19.5%, 4 bedroom homes decreased by 8.5%, and 5+ bedroom homes decreased by 52.2%.
Median Sold Price Compared To Nearby Cities
| Colonial Beach | $309K | $307.3K | -0.6% |
| Newburg | $378.2K | $340K | -10.1% |
Housing Supply in Newburg, MD
How many homes are available in Newburg, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 50 | 50 | 0.0% |
Summary: The Newburg real estate market had 50 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 20 | 19 | -5.0% |
| 4 Bedrooms | 13 | 14 | +7.7% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Newburg 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 decreased by 14.3%, 3 bedroom homes decreased by 5%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newburg, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in Newburg in March 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Newburg, MD
How long does it take to sell a home in Newburg, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 38 Days | 75 Days | +95.7% |
Summary: Homes in Newburg had an average of 75 days on market in Mar 2024, up by 95.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Newburg has remained consistent over time.
Summary: During March 2024, 1 homes were sold in Newburg; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
