Is Sykesville, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Sykesville has remained a Seller's Market.
Key Takeaway
Sykesville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Sykesville, MD cost?
Median Sold Price
$478,500
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Sykesville have sold for 6.5% less than they did a year ago.
Summary: The median home sold price in Sykesville was $478,500 in August 2023, down 6.5% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $200K | N/A |
| 2 Bedrooms | $261.2K | $270K | +3.3% |
| 3 Bedrooms | $431.5K | $415K | -3.8% |
| 4 Bedrooms | $589K | $600K | +1.9% |
| 5+ Bedrooms | $955K | $830K | -13.1% |
Summary: Sykesville housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.3%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 13.1%.
Housing Supply
How many homes are available in Sykesville, MD?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 107 | 89 | -16.8% |
Summary: The Sykesville real estate market had 89 homes for sale in August 2023, a 16.8% decrease compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 11 | 8 | -27.3% |
| 3 Bedrooms | 44 | 35 | -20.5% |
| 4 Bedrooms | 39 | 35 | -10.3% |
| 5+ Bedrooms | 13 | 11 | -15.4% |
Summary: The Sykesville housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 27.3%, 3 bedroom homes decreased by 20.5%, 4 bedroom homes decreased by 10.3%, and 5+ bedroom homes decreased by 15.4%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 46 | 38 | -17.4% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sykesville, you could pay more than the asking price. 57.9% of homes here sold above asking price last month.
Summary: A total of 38 homes were sold or pending in Sykesville in August 2023, down by 17.4% month-over-month. Of the 38 sold homes, 21% were sold under asking, 21% were sold at asking, and 58% were sold over asking.
Days on Market
How long does it take to sell a home in Sykesville, MD?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 8 Days | 13 Days | +65.5% |
Summary: Homes in Sykesville had an average of 13 days on market in Aug 2023, up by 65.5% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Sykesville are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 38 homes were sold in Sykesville; 89% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
