Is Westphalia, 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, Westphalia was a Buyer's Market.
Key Takeaway
Westphalia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Westphalia, MD
How much do homes in Westphalia, MD cost?
Median Sold Price
$497,700
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Westphalia have sold for 1.4% more than they did a year ago.
Summary: The median home sold price in Westphalia was $497,700 in April 2024, up 1.4% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $427.4K | $244K | -42.9% |
| 3 Bedrooms | $489.9K | $490.7K | 0.2% |
| 4 Bedrooms | $467K | $650K | +39.2% |
| 5+ Bedrooms | $733K | $790K | +7.8% |
Summary: Westphalia 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 decreased by 42.9%, 3 bedroom homes increased by 0.2%, 4 bedroom homes increased by 39.2%, and 5+ bedroom homes increased by 7.8%.
Housing Supply in Westphalia, MD
How many homes are available in Westphalia, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 84 | 76 | -9.5% |
Summary: The Westphalia real estate market had 76 homes for sale in April 2024, a 9.5% 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 | 6 | 5 | -16.7% |
| 3 Bedrooms | 53 | 49 | -7.5% |
| 4 Bedrooms | 16 | 14 | -12.5% |
| 5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The Westphalia 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 decreased by 16.7%, 3 bedroom homes decreased by 7.5%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 20 | -13.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westphalia, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 20 homes were sold or pending in Westphalia in April 2024, down by 13.0% month-over-month. Of the 20 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Westphalia, MD
How long does it take to sell a home in Westphalia, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 19 Days | 28 Days | +46.3% |
Summary: Homes in Westphalia had an average of 28 days on market in Apr 2024, up by 46.3% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Westphalia are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 20 homes were sold in Westphalia; 70% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
