Is Elkton, 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, Elkton has remained a Seller's Market.
Key Takeaway
Elkton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elkton, MD
How much do homes in Elkton, MD cost?
Median Sold Price
$325,550
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Elkton have sold for 16.3% more than they did a year ago.
Summary: The median home sold price in Elkton was $325,550 in April 2024, up 16.3% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $191.5K | $240K | +25.3% |
| 3 Bedrooms | $250K | $300K | +20.0% |
| 4 Bedrooms | $374.5K | $380K | +1.5% |
| 5+ Bedrooms | $561K | $500K | -10.9% |
Summary: Elkton 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 25.3%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes decreased by 10.9%.
Median Sold Price Compared To Nearby Cities
| Elkton | $280K | $325.5K | +16.3% |
| Glasgow | $389.6K | $395K | +1.4% |
Housing Supply in Elkton, MD
How many homes are available in Elkton, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 90 | 111 | +23.3% |
Summary: The Elkton real estate market had 111 homes for sale in April 2024, a 23.3% 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 | 10 | 8 | -20.0% |
| 3 Bedrooms | 33 | 50 | +51.5% |
| 4 Bedrooms | 39 | 42 | +7.7% |
| 5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The Elkton 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 20%, 3 bedroom homes increased by 51.5%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 27 | +22.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elkton, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in Elkton in April 2024, up by 22.7% month-over-month. Of the 27 sold homes, 19% were sold under asking, 15% were sold at asking, and 67% were sold over asking.
Days on Market for Elkton, MD
How long does it take to sell a home in Elkton, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 22 Days | 15 Days | -31.2% |
Summary: Homes in Elkton had an average of 15 days on market in Apr 2024, down by 31.2% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Elkton are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 27 homes were sold in Elkton; 93% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
