Is West River, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West River is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, West River was a Buyer's Market.

Key Takeaway

West River is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in West River, MD

How much do homes in West River, MD cost?

Median Sold Price

$505,000

$265/sqft

Based on all homes sold in February 2024.

Difference Since Last Month

-$1,095,000(-68.4%)

Key Takeaway

Homes in West River have sold for 68.4% less than they did a month ago.

Summary: The median home sold price in West River was $505,000 in February 2024, down 68.4% from last month, and the median price per square foot was $265.

Median Sold Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 --
N/A
2 --
N/A
3 -$369K
N/A
4 $1.6M$655.9K
-59.0%
5+ --
N/A

Summary: West River housing prices by bedroom type for February 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 did not change, 4 bedroom homes decreased by 59%, and 5+ bedroom homes did not change.

Housing Supply in West River, MD

How many homes are available in West River, MD?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
17170.0%

Summary: The West River real estate market had 17 homes for sale in February 2024, the same as January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 00
0.0%
3 33
0.0%
4 1111
0.0%
5+ 33
0.0%

Summary: The West River housing inventory by bedroom type for February 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 remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
13+200.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West River, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in West River in February 2024, up by 200.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.

Days on Market for West River, MD

How long does it take to sell a home in West River, MD?

Average Sale Time

Jan 2024Feb 2024CHANGE
45 Days10 Days-76.3%

Summary: Homes in West River had an average of 10 days on market in Feb 2024, down by 76.3% compared to last month.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in West River are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 3 homes were sold in West River; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

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