Is Ridgely, 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, Ridgely has remained a Seller's Market.
Key Takeaway
Ridgely is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ridgely, MD
How much do homes in Ridgely, MD cost?
Median Sold Price
$333,925
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Ridgely have sold for 16.4% more than they did a year ago.
Summary: The median home sold price in Ridgely was $333,925 in March 2024, up 16.4% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $90K | N/A |
| 2 Bedrooms | $224K | $286K | +27.7% |
| 3 Bedrooms | $207K | $333.9K | +61.3% |
| 4 Bedrooms | $322.5K | $347K | +7.6% |
| 5+ Bedrooms | $369K | $625K | +69.4% |
Summary: Ridgely housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 27.7%, 3 bedroom homes increased by 61.3%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 69.4%.
Housing Supply in Ridgely, MD
How many homes are available in Ridgely, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 20 | +17.6% |
Summary: The Ridgely real estate market had 20 homes for sale in March 2024, a 17.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 10 | 10 | 0.0% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Ridgely 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 increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Ridgely, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Ridgely in March 2024, up by 100.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Ridgely, MD
How long does it take to sell a home in Ridgely, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 57 Days | 55 Days | -3.3% |
Summary: Homes in Ridgely had an average of 55 days on market in Mar 2024, down by 3.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ridgely are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Ridgely; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
