Is Port Republic, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller'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 in Port Republic, MD
How much do homes in Port Republic, MD cost?
Median Sold Price
$221,040
$113/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Port Republic have sold for 53.6% less than they did a month ago.
Summary: The median home sold price in Port Republic was $221,040 in March 2024, down 53.6% from last month, and the median price per square foot was $113.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $100K | - | N/A |
| 2 Bedrooms | $250K | - | N/A |
| 3 Bedrooms | $452K | $142K | -68.6% |
| 4 Bedrooms | $512K | $300K | -41.4% |
| 5+ Bedrooms | $695K | - | N/A |
Summary: Port Republic housing prices by bedroom type for March 2024 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 68.6%, 4 bedroom homes decreased by 41.4%, and 5+ bedroom homes did not change.
Housing Supply in Port Republic, MD
How many homes are available in Port Republic, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 15 | -11.8% |
Summary: The Port Republic real estate market had 15 homes for sale in March 2024, a 11.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 3 | 5 | +66.7% |
| 4 Bedrooms | 8 | 6 | -25.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Port Republic housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 66.7%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 2 | -66.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
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 2 homes were sold or pending in Port Republic in March 2024, down by 66.7% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Port Republic, MD
How long does it take to sell a home in Port Republic, MD?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 49 Days | 32 Days | -33.9% |
Summary: Homes in Port Republic had an average of 32 days on market in Mar 2024, down by 33.9% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Port Republic are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in Port Republic; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
