Is Cambridge, 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, Cambridge was a Seller's Market.
Key Takeaway
Cambridge 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 Cambridge, MD
How much do homes in Cambridge, MD cost?
Median Sold Price
$256,250
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Cambridge have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Cambridge was $256,250 in April 2024, up 2.5% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $391K | N/A |
| 2 Bedrooms | $155.2K | $165K | +6.3% |
| 3 Bedrooms | $227.4K | $222.5K | -2.2% |
| 4 Bedrooms | $307.7K | $309.9K | +0.7% |
| 5+ Bedrooms | $312.5K | $375K | +20.0% |
Summary: Cambridge 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 increased by 6.3%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes increased by 20%.
Housing Supply in Cambridge, MD
How many homes are available in Cambridge, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 138 | 144 | +4.3% |
Summary: The Cambridge real estate market had 144 homes for sale in April 2024, a 4.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 29 | 32 | +10.3% |
| 3 Bedrooms | 61 | 59 | -3.3% |
| 4 Bedrooms | 37 | 39 | +5.4% |
| 5+ Bedrooms | 10 | 13 | +30.0% |
Summary: The Cambridge 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 10.3%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 30%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 22 | -4.3% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cambridge, you may be able to get a good deal. 63.6% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in Cambridge in April 2024, down by 4.3% month-over-month. Of the 22 sold homes, 64% were sold under asking, 14% were sold at asking, and 23% were sold over asking.
Days on Market for Cambridge, MD
How long does it take to sell a home in Cambridge, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 66 Days | 78 Days | +17.5% |
Summary: Homes in Cambridge had an average of 78 days on market in Apr 2024, up by 17.5% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Cambridge are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 22 homes were sold in Cambridge; 32% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 41% of homes were sold over 90 days.
