Is Great Mills, 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, Great Mills was a Buyer's Market.
Key Takeaway
Great Mills is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Great Mills, MD
How much do homes in Great Mills, MD cost?
Median Sold Price
$305,000
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Great Mills have sold for 8.5% less than they did a year ago.
Summary: The median home sold price in Great Mills was $305,000 in April 2024, down 8.5% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $187.5K | N/A |
| 2 Bedrooms | $212.5K | $221.5K | +4.2% |
| 3 Bedrooms | $252K | $271K | +7.5% |
| 4 Bedrooms | $385K | $369.9K | -3.9% |
| 5+ Bedrooms | $454.5K | $440K | -3.2% |
Summary: Great Mills 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 4.2%, 3 bedroom homes increased by 7.5%, 4 bedroom homes decreased by 3.9%, and 5+ bedroom homes decreased by 3.2%.
Median Sold Price Compared To Nearby Cities
| Lexington Park | $350K | $352.9K | +0.8% |
| California | $355K | $355K | 0.0% |
| Great Mills | $333.5K | $305K | -8.5% |
Housing Supply in Great Mills, MD
How many homes are available in Great Mills, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 23 | +64.3% |
Summary: The Great Mills real estate market had 23 homes for sale in April 2024, a 64.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 3 | 7 | +133.3% |
| 4 Bedrooms | 8 | 12 | +50.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Great Mills 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 remained the same, 3 bedroom homes increased by 133.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Great Mills, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Great Mills in April 2024, up by 150.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for Great Mills, MD
How long does it take to sell a home in Great Mills, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 48 Days | 9 Days | -80.0% |
Summary: Homes in Great Mills had an average of 9 days on market in Apr 2024, down by 80% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Great Mills are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in Great Mills; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
