Is Allegany County, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Allegany County was a Seller's Market.
Housing Prices in Allegany County, MD
How much do homes in Allegany County, MD cost?
Median Sold Price
$135,133
$93/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Allegany County was $135,133 in May 2024, up 2% from last year, and the median price per square foot was $93.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $44.2K | $75K | +69.5% |
2 Bedrooms | $95K | $102.5K | +7.9% |
3 Bedrooms | $138.6K | $140.5K | +1.4% |
4 Bedrooms | $177K | $189.9K | +7.3% |
5+ Bedrooms | $335K | $169.5K | -49.4% |
Summary: Allegany County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 69.5%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes decreased by 49.4%.
Median Sold Price Compared To Nearby Counties
Hampshire County | $207.5K | $249.9K | +20.4% |
Mineral County | $163K | $188.5K | +15.7% |
Allegany County | $132.4K | $135.1K | +2.0% |
Bedford County | $184.4K | $185K | 0.3% |
Morgan County | $286.5K | $285.5K | -0.3% |
Housing Supply in Allegany County, MD
How many homes are available in Allegany County, MD?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
283 | 311 | +9.9% |
Summary: The Allegany County real estate market had 311 homes for sale in May 2024, a 9.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 39 | 38 | -2.6% |
3 Bedrooms | 162 | 168 | +3.7% |
4 Bedrooms | 53 | 66 | +24.5% |
5+ Bedrooms | 26 | 36 | +38.5% |
Summary: The Allegany County 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 decreased by 2.6%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 24.5%, and 5+ bedroom homes increased by 38.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
54 | 46 | -14.8% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 46 homes were sold or pending in Allegany County in May 2024, down by 14.8% month-over-month. Of the 46 sold homes, 59% were sold under asking, 13% were sold at asking, and 28% were sold over asking.
Days on Market for Allegany County, MD
How long does it take to sell a home in Allegany County, MD?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
53 Days | 55 Days | +3.9% |
Summary: Homes in Allegany County had an average of 55 days on market in May 2024, up by 3.9% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During May 2024, 46 homes were sold in Allegany County; 48% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.