Is Port Republic, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Port Republic is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, Port Republic was a Seller's Market.

Key Takeaway

Port Republic is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices

How much do homes in Port Republic, MD cost?

Median Sold Price

$136,500

$88/sqft

Based on all homes sold in September 2023.

Difference Since Last Month

-$358,500(-72.4%)

Key Takeaway

Homes in Port Republic have sold for 72.4% less than they did a month ago.

Summary: The median home sold price in Port Republic was $136,500 in September 2023, down 72.4% from last month, and the median price per square foot was $88.

Median Sold Price By Bedroom Count

# BEDSAug 2023Sep 2023CHANGE
1 --
N/A
2 --
N/A
3 $495K$136.5K
-72.4%
4 $430K-
N/A
5+ $605K-
N/A

Summary: Port Republic housing prices by bedroom type for September 2023 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 72.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply

How many homes are available in Port Republic, MD?

Number of Homes For Sale

Aug 2023Sep 2023CHANGE
1210-16.7%

Summary: The Port Republic real estate market had 10 homes for sale in September 2023, a 16.7% decrease compared to August 2023.

Homes For Sale By Bedroom Count

# BEDSAug 2023Sep 2023CHANGE
1 12
+100.0%
2 11
0.0%
3 32
-33.3%
4 54
-20.0%
5+ 21
-50.0%

Summary: The Port Republic housing inventory by bedroom type for September 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 33.3%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Aug 2023Sep 2023CHANGE
31-66.7%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Port Republic, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Port Republic in September 2023, down by 66.7% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market

How long does it take to sell a home in Port Republic, MD?

Average Sale Time

Aug 2023Sep 2023CHANGE
14 Days77 Days+425.0%

Summary: Homes in Port Republic had an average of 77 days on market in Sep 2023, up by 425% compared to last month.

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

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Port Republic has remained consistent over time.

Summary: During September 2023, 1 homes were sold in Port Republic; 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.

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

Report Updated 3 Days Ago

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