Is Westminster, 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, Westminster has remained a Seller'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
$429,714
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Westminster have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Westminster was $429,714 in April 2024, up 7.5% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220K | $153.7K | -30.1% |
| 2 Bedrooms | $236K | $305K | +29.2% |
| 3 Bedrooms | $332.5K | $355K | +6.8% |
| 4 Bedrooms | $535K | $510K | -4.7% |
| 5+ Bedrooms | $588.5K | $749.9K | +27.4% |
Summary: Westminster housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 30.1%, 2 bedroom homes increased by 29.2%, 3 bedroom homes increased by 6.8%, 4 bedroom homes decreased by 4.7%, and 5+ bedroom homes increased by 27.4%.
Housing Supply in Westminster, MD
How many homes are available in Westminster, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 132 | 135 | +2.3% |
Summary: The Westminster real estate market had 135 homes for sale in April 2024, a 2.3% increase 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 | 14 | 16 | +14.3% |
| 3 Bedrooms | 62 | 60 | -3.2% |
| 4 Bedrooms | 42 | 44 | +4.8% |
| 5+ Bedrooms | 14 | 15 | +7.1% |
Summary: The Westminster 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 14.3%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 7.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 47 | 35 | -25.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westminster, you could pay more than the asking price. 65.7% of homes here sold above asking price last month.
Summary: A total of 35 homes were sold or pending in Westminster in April 2024, down by 25.5% month-over-month. Of the 35 sold homes, 17% were sold under asking, 17% were sold at asking, and 66% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 26 Days | 20 Days | -23.6% |
Summary: Homes in Westminster had an average of 20 days on market in Apr 2024, down by 23.6% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 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 April 2024, 35 homes were sold in Westminster; 86% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
