Is Solomons, 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, Solomons was a Buyer's Market.
Key Takeaway
Solomons is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Solomons, MD
How much do homes in Solomons, MD cost?
Median Sold Price
$497,000
$256/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Solomons have sold for 19.3% more than they did a month ago.
Summary: The median home sold price in Solomons was $497,000 in April 2024, up 19.3% from last month, and the median price per square foot was $256.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $400K | N/A |
| 3 Bedrooms | $510.7K | $508.5K | -0.4% |
| 4 Bedrooms | $318.6K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Solomons housing prices by bedroom type for April 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 0.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Windward Harbour | $318.6K | $420K | +31.8% |
| Solomons | $416.5K | $497K | +19.3% |
Housing Supply in Solomons, MD
How many homes are available in Solomons, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 23 | +4.5% |
Summary: The Solomons real estate market had 23 homes for sale in April 2024, a 4.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 9 | 7 | -22.2% |
| 4 Bedrooms | 7 | 9 | +28.6% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Solomons housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes decreased by 22.2%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
3 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 Solomons, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Solomons in April 2024, up by 66.7% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Solomons, MD
How long does it take to sell a home in Solomons, MD?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 Days | 13 Days | +25.5% |
Summary: Homes in Solomons had an average of 13 days on market in Apr 2024, up by 25.5% compared to last month.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Solomons are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in Solomons; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
