Is Westminster, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
At the same time last year, Westminster was a Buyer's Market.
Key Takeaway
Westminster is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Westminster, MD
How much do homes in Westminster, MD cost?
Median Sold Price
$423,000
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Westminster have sold for 30.2% more than they did a year ago.
Summary: The median home sold price in Westminster was $423,000 in November 2023, up 30.2% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220K | $153.7K | -30.1% |
| 2 Bedrooms | $210K | $280K | +33.3% |
| 3 Bedrooms | $295K | $349.5K | +18.5% |
| 4 Bedrooms | $549.2K | $505K | -8.1% |
| 5+ Bedrooms | $557K | $720K | +29.3% |
Summary: Westminster housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 30.1%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 18.5%, 4 bedroom homes decreased by 8.1%, and 5+ bedroom homes increased by 29.3%.
Housing Supply in Westminster, MD
How many homes are available in Westminster, MD?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 191 | 185 | -3.1% |
Summary: The Westminster real estate market had 185 homes for sale in November 2023, a 3.1% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 9 | +80.0% |
| 3 Bedrooms | 73 | 64 | -12.3% |
| 4 Bedrooms | 76 | 71 | -6.6% |
| 5+ Bedrooms | 37 | 41 | +10.8% |
Summary: The Westminster housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 80%, 3 bedroom homes decreased by 12.3%, 4 bedroom homes decreased by 6.6%, and 5+ bedroom homes increased by 10.8%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 46 | 39 | -15.2% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westminster, you may be able to get a good deal. 41% of homes here sold below asking price last month.
Summary: A total of 39 homes were sold or pending in Westminster in November 2023, down by 15.2% month-over-month. Of the 39 sold homes, 41% were sold under asking, 23% were sold at asking, and 36% were sold over asking.
Days on Market for Westminster, MD
How long does it take to sell a home in Westminster, MD?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 13 Days | 17 Days | +34.6% |
Summary: Homes in Westminster had an average of 17 days on market in Nov 2023, up by 34.6% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Westminster are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 39 homes were sold in Westminster; 82% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
