Is West, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, West was a Seller's Market.
Key Takeaway
West is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in West, MD
How much do homes in West, MD cost?
Median Sold Price
$85,000
$86/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in West have sold for 22.7% less than they did a year ago.
Summary: The median home sold price in West was $85,000 in April 2024, down 22.7% from last year, and the median price per square foot was $86.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $40.7K | $63K | +54.8% |
| 2 Bedrooms | $66.5K | $50K | -24.8% |
| 3 Bedrooms | $82.2K | $75.3K | -8.4% |
| 4 Bedrooms | $205K | $175K | -14.6% |
| 5+ Bedrooms | $168.4K | $145K | -13.9% |
Summary: West housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 54.8%, 2 bedroom homes decreased by 24.8%, 3 bedroom homes decreased by 8.4%, 4 bedroom homes decreased by 14.6%, and 5+ bedroom homes decreased by 13.9%.
Median Sold Price Compared To Nearby Neighborhoods
| Bridgeview / Greenlawn | $166K | $155K | -6.6% |
| West | $110K | $85K | -22.7% |
| Coppin Heights / Ash-Co-East | $157.9K | $78.2K | -50.5% |
Housing Supply in West, MD
How many homes are available in West, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 362 | 384 | +6.1% |
Summary: The West real estate market had 384 homes for sale in April 2024, a 6.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 7 | 0.0% |
| 2 Bedrooms | 31 | 41 | +32.3% |
| 3 Bedrooms | 210 | 218 | +3.8% |
| 4 Bedrooms | 89 | 88 | -1.1% |
| 5+ Bedrooms | 25 | 30 | +20.0% |
Summary: The West 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 32.3%, 3 bedroom homes increased by 3.8%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 46 | 56 | +21.7% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 56 homes were sold or pending in West in April 2024, up by 21.7% month-over-month. Of the 56 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.
Days on Market for West, MD
How long does it take to sell a home in West, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 64 Days | 64 Days | 0.3% |
Summary: Homes in West had an average of 64 days on market in Apr 2024, up by 0.3% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
19 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 56 homes were sold in West; 36% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 34% of homes were sold over 90 days.
