Is Hancock, 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, Hancock has remained a Seller's Market.
Key Takeaway
Hancock is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hancock, MD
How much do homes in Hancock, MD cost?
Median Sold Price
$228,000
$126/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Hancock have sold for 34.9% more than they did a year ago.
Summary: The median home sold price in Hancock was $228,000 in April 2024, up 34.9% from last year, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | $35K | -56.3% |
| 2 Bedrooms | $104.5K | $130K | +24.4% |
| 3 Bedrooms | $170K | $231.5K | +36.2% |
| 4 Bedrooms | $283K | $298K | +5.3% |
| 5+ Bedrooms | $160K | $435K | +171.9% |
Summary: Hancock housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 56.3%, 2 bedroom homes increased by 24.4%, 3 bedroom homes increased by 36.2%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 171.9%.
Housing Supply in Hancock, MD
How many homes are available in Hancock, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Summary: The Hancock real estate market had 9 homes for sale in April 2024, a 28.6% increase 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 5 | 8 | +60.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Hancock 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 60%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hancock, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Hancock in April 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Hancock, MD
How long does it take to sell a home in Hancock, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 43 Days | 10 Days | -76.9% |
Summary: Homes in Hancock had an average of 10 days on market in Apr 2024, down by 76.9% compared to last year.
Breakdown of Home Sale Times
2 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 Hancock are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in Hancock; 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.
