Is Bel Air, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Bel Air has remained a Seller's Market.
Housing Prices in Bel Air, MD
How much do homes in Bel Air, MD cost?
Median Sold Price
$430,000
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Bel Air was $430,000 in May 2024, up 13.2% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $173.5K | $175K | +0.9% |
2 Bedrooms | $249K | $260K | +4.4% |
3 Bedrooms | $372.4K | $375K | +0.7% |
4 Bedrooms | $495K | $532.5K | +7.6% |
5+ Bedrooms | $600K | $717.4K | +19.6% |
Summary: Bel Air housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.9%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 19.6%.
Housing Supply in Bel Air, MD
How many homes are available in Bel Air, MD?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
153 | 175 | +14.4% |
Summary: The Bel Air real estate market had 175 homes for sale in May 2024, a 14.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 26 | 30 | +15.4% |
3 Bedrooms | 51 | 63 | +23.5% |
4 Bedrooms | 52 | 56 | +7.7% |
5+ Bedrooms | 21 | 24 | +14.3% |
Summary: The Bel Air housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 23.5%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
43 | 37 | -14.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Summary: A total of 37 homes were sold or pending in Bel Air in May 2024, down by 14.0% month-over-month. Of the 37 sold homes, 30% were sold under asking, 22% were sold at asking, and 49% were sold over asking.
Days on Market for Bel Air, MD
How long does it take to sell a home in Bel Air, MD?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
8 Days | 17 Days | +101.1% |
Summary: Homes in Bel Air had an average of 17 days on market in May 2024, up by 101.1% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 37 homes were sold in Bel Air; 84% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.