Is Cambridge, 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, Cambridge was a Seller's Market.
Key Takeaway
Cambridge 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 Cambridge, MD
How much do homes in Cambridge, MD cost?
Median Sold Price
$253,326
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cambridge have sold for 2.1% less than they did a year ago.
Summary: The median home sold price in Cambridge was $253,326 in May 2024, down 2.1% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $157K | $625K | +298.1% |
| 2 Bedrooms | $151.2K | $170K | +12.4% |
| 3 Bedrooms | $229.9K | $221K | -3.9% |
| 4 Bedrooms | $307.9K | $304.9K | -1.0% |
| 5+ Bedrooms | $324.9K | $382.5K | +17.7% |
Summary: Cambridge housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 298.1%, 2 bedroom homes increased by 12.4%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes increased by 17.7%.
Housing Supply in Cambridge, MD
How many homes are available in Cambridge, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 153 | 179 | +17.0% |
Summary: The Cambridge real estate market had 179 homes for sale in May 2024, a 17.0% 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 | 35 | 34 | -2.9% |
| 3 Bedrooms | 63 | 84 | +33.3% |
| 4 Bedrooms | 40 | 41 | +2.5% |
| 5+ Bedrooms | 14 | 19 | +35.7% |
Summary: The Cambridge 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 2.9%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 35.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 26 | +13.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cambridge, you may be able to get a good deal. 53.8% of homes here sold below asking price last month.
Summary: A total of 26 homes were sold or pending in Cambridge in May 2024, up by 13.0% month-over-month. Of the 26 sold homes, 54% were sold under asking, 35% were sold at asking, and 12% were sold over asking.
Days on Market for Cambridge, MD
How long does it take to sell a home in Cambridge, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 47 Days | 46 Days | -0.6% |
Summary: Homes in Cambridge had an average of 46 days on market in May 2024, down by 0.6% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cambridge are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 26 homes were sold in Cambridge; 54% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
