Is Welcome, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Welcome has remained a Seller's Market.
Key Takeaway
Welcome is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Welcome, MD
How much do homes in Welcome, MD cost?
Median Sold Price
$592,500
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Welcome have sold for 39.4% more than they did a year ago.
Summary: The median home sold price in Welcome was $592,500 in April 2024, up 39.4% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $265K | - | N/A |
| 3 Bedrooms | $318.5K | $400K | +25.6% |
| 4 Bedrooms | $432.5K | $613.4K | +41.8% |
| 5+ Bedrooms | $485K | $575K | +18.6% |
Summary: Welcome housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 25.6%, 4 bedroom homes increased by 41.8%, and 5+ bedroom homes increased by 18.6%.
Median Sold Price Compared To Nearby Cities
| Welcome | $425K | $592.5K | +39.4% |
| Newburg | $390K | $422K | +8.2% |
| Port Tobacco | $555K | $479.6K | -13.6% |
Housing Supply in Welcome, MD
How many homes are available in Welcome, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Summary: The Welcome real estate market had 1 homes for sale in April 2024, a 50.0% decrease 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 0 | 0 | 0.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Welcome 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Welcome, 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 Welcome in April 2024, the same as the previous 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 for Welcome, MD
How long does it take to sell a home in Welcome, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 11 Days | 143 Days | +1143.5% |
Summary: Homes in Welcome had an average of 143 days on market in Apr 2024, up by 1143.5% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Welcome are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 1 homes were sold in Welcome; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
