Is Newburg, 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, Newburg was a Seller's Market.
Key Takeaway
Newburg is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Newburg, MD
How much do homes in Newburg, MD cost?
Median Sold Price
$422,000
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Newburg have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in Newburg was $422,000 in April 2024, up 8.2% from last year, and the median price per square foot was $212.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $24.8K | $92.5K | +272.1% |
| 2 Bedrooms | - | $282K | N/A |
| 3 Bedrooms | $434.9K | $365K | -16.1% |
| 4 Bedrooms | $377.5K | $489K | +29.5% |
| 5+ Bedrooms | $1.0M | $725K | -31.3% |
Summary: Newburg housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 272.1%, 2 bedroom homes did not change, 3 bedroom homes decreased by 16.1%, 4 bedroom homes increased by 29.5%, and 5+ bedroom homes decreased by 31.3%.
Median Sold Price Compared To Nearby Cities
| Newburg | $390K | $422K | +8.2% |
| Dahlgren | $372K | $385K | +3.5% |
| Colonial Beach | $299.9K | $310K | +3.4% |
Housing Supply in Newburg, MD
How many homes are available in Newburg, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 20 | +66.7% |
Summary: The Newburg real estate market had 20 homes for sale in April 2024, a 66.7% 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 | 2 | 3 | +50.0% |
| 3 Bedrooms | 4 | 8 | +100.0% |
| 4 Bedrooms | 2 | 6 | +200.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Newburg 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 increased by 50%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 200%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newburg, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Newburg in April 2024, up by 200.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for Newburg, MD
How long does it take to sell a home in Newburg, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 27 Days | 83 Days | +201.8% |
Summary: Homes in Newburg had an average of 83 days on market in Apr 2024, up by 201.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Newburg has remained consistent over time.
Summary: During April 2024, 3 homes were sold in Newburg; 0% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
