Is North East, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing North East is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, North East was a Seller's Market.

Key Takeaway

North East is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in North East, MD

How much do homes in North East, MD cost?

Median Sold Price

$347,450

$181/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$56,950(+19.6%)

Key Takeaway

Homes in North East have sold for 19.6% more than they did a year ago.

Summary: The median home sold price in North East was $347,450 in February 2024, up 19.6% from last year, and the median price per square foot was $181.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $245K$275K
+12.2%
3 $271K$300K
+10.7%
4 $400K$476.5K
+19.1%
5+ $460K$469.9K
+2.2%

Summary: North East housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 19.1%, and 5+ bedroom homes increased by 2.2%.

Housing Supply in North East, MD

How many homes are available in North East, MD?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
100105+5.0%

Summary: The North East real estate market had 105 homes for sale in February 2024, a 5.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 911
+22.2%
3 3035
+16.7%
4 5452
-3.7%
5+ 77
0.0%

Summary: The North East housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
717+142.9%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in North East, expect to pay close to the asking price. 41.2% of homes here sold near the asking price last month.

Summary: A total of 17 homes were sold or pending in North East in February 2024, up by 142.9% month-over-month. Of the 17 sold homes, 35% were sold under asking, 41% were sold at asking, and 24% were sold over asking.

Days on Market for North East, MD

How long does it take to sell a home in North East, MD?

Average Sale Time

Feb 2023Feb 2024CHANGE
62 Days25 Days-58.5%

Summary: Homes in North East had an average of 25 days on market in Feb 2024, down by 58.5% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in North East are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 17 homes were sold in North East; 59% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in North East, MD

Nearby Markets to North East, MD