Is Edgewood, 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, Edgewood has remained a Seller's Market.
Key Takeaway
Edgewood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Edgewood, MD
How much do homes in Edgewood, MD cost?
Median Sold Price
$245,000
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Edgewood have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Edgewood was $245,000 in May 2024, up 6.5% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $174.9K | N/A |
| 2 Bedrooms | $128K | $132K | +3.1% |
| 3 Bedrooms | $252.5K | $259K | +2.6% |
| 4 Bedrooms | $270K | $296K | +9.6% |
| 5+ Bedrooms | $287.5K | $395K | +37.4% |
Summary: Edgewood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 37.4%.
Housing Supply in Edgewood, MD
How many homes are available in Edgewood, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 66 | 75 | +13.6% |
Summary: The Edgewood real estate market had 75 homes for sale in May 2024, a 13.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 10 | 13 | +30.0% |
| 3 Bedrooms | 34 | 40 | +17.6% |
| 4 Bedrooms | 20 | 20 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Edgewood housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 30%, 3 bedroom homes increased by 17.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 15 | 0.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Edgewood, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 15 homes were sold or pending in Edgewood in May 2024, the same as the previous month. Of the 15 sold homes, 33% were sold under asking, 40% were sold at asking, and 27% were sold over asking.
Days on Market for Edgewood, MD
How long does it take to sell a home in Edgewood, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 9 Days | 69 Days | +651.0% |
Summary: Homes in Edgewood had an average of 69 days on market in May 2024, up by 651% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Edgewood are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 15 homes were sold in Edgewood; 73% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
