Is Elkridge, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Elkridge has remained a Seller's Market.
Housing Prices in Elkridge, MD
How much do homes in Elkridge, MD cost?
Median Sold Price
$452,500
$243/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Elkridge was $452,500 in May 2024, up 1.7% from last year, and the median price per square foot was $243.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $305K | $270K | -11.5% |
3 Bedrooms | $425K | $440K | +3.5% |
4 Bedrooms | $550K | $582.7K | +6.0% |
5+ Bedrooms | $624.9K | $626.8K | 0.3% |
Summary: Elkridge housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 11.5%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 0.3%.
Median Sold Price Compared To Nearby Neighborhoods
Ilchester | $465K | $496.3K | +6.7% |
Elkridge | $445K | $452.5K | +1.7% |
Housing Supply in Elkridge, MD
How many homes are available in Elkridge, MD?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
64 | 69 | +7.8% |
Summary: The Elkridge real estate market had 69 homes for sale in May 2024, a 7.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 10 | 10 | 0.0% |
3 Bedrooms | 28 | 32 | +14.3% |
4 Bedrooms | 21 | 21 | 0.0% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Elkridge housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
18 | 15 | -16.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Elkridge in May 2024, down by 16.7% month-over-month. Of the 15 sold homes, 20% were sold under asking, 13% were sold at asking, and 67% were sold over asking.
Days on Market for Elkridge, MD
How long does it take to sell a home in Elkridge, MD?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
6 Days | 11 Days | +62.7% |
Summary: Homes in Elkridge had an average of 11 days on market in May 2024, up by 62.7% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 15 homes were sold in Elkridge; 93% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.