Is Mechanicsville, 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, Mechanicsville has remained a Seller's Market.
Key Takeaway
Mechanicsville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mechanicsville, MD
How much do homes in Mechanicsville, MD cost?
Median Sold Price
$387,000
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Mechanicsville have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in Mechanicsville was $387,000 in April 2024, up 2.9% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $240K | $285K | +18.8% |
| 3 Bedrooms | $352.5K | $350K | -0.7% |
| 4 Bedrooms | $395K | $412.5K | +4.4% |
| 5+ Bedrooms | $582K | $565K | -2.9% |
Summary: Mechanicsville 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 18.8%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes decreased by 2.9%.
Housing Supply in Mechanicsville, MD
How many homes are available in Mechanicsville, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 56 | 75 | +33.9% |
Summary: The Mechanicsville real estate market had 75 homes for sale in April 2024, a 33.9% 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 | 0 | -100.0% |
| 3 Bedrooms | 22 | 39 | +77.3% |
| 4 Bedrooms | 21 | 24 | +14.3% |
| 5+ Bedrooms | 12 | 12 | 0.0% |
Summary: The Mechanicsville 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 100%, 3 bedroom homes increased by 77.3%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 22 | +100.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mechanicsville, expect to pay close to the asking price. 40.9% of homes here sold near the asking price last month.
Summary: A total of 22 homes were sold or pending in Mechanicsville in April 2024, up by 100.0% month-over-month. Of the 22 sold homes, 23% were sold under asking, 41% were sold at asking, and 36% were sold over asking.
Days on Market for Mechanicsville, MD
How long does it take to sell a home in Mechanicsville, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 15 Days | 15 Days | +2.3% |
Summary: Homes in Mechanicsville had an average of 15 days on market in Apr 2024, up by 2.3% compared to last year.
Breakdown of Home Sale Times
20 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 Mechanicsville are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 22 homes were sold in Mechanicsville; 91% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
