Is Cecil 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, Cecil County was a Seller's Market.
Key Takeaway
Cecil County 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 Cecil County, MD
How much do homes in Cecil County, MD cost?
Median Sold Price
$340,070
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cecil County have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Cecil County was $340,070 in May 2024, up 4.5% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $102K | $196.4K | +92.6% |
| 2 Bedrooms | $252.5K | $259.9K | +3.0% |
| 3 Bedrooms | $296K | $315.8K | +6.7% |
| 4 Bedrooms | $408.5K | $400K | -2.1% |
| 5+ Bedrooms | $578.4K | $548.7K | -5.1% |
Summary: Cecil County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 92.6%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 6.7%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes decreased by 5.1%.
Median Sold Price Compared To Nearby Counties
| Lancaster County | $299.9K | $329K | +9.7% |
| Chester County | $476.5K | $509.2K | +6.9% |
| New Castle County | $329.8K | $349.9K | +6.1% |
| Cecil County | $325.4K | $340K | +4.5% |
| Kent County | $327K | $319.9K | -2.1% |
Housing Supply in Cecil County, MD
How many homes are available in Cecil County, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 289 | 324 | +12.1% |
Summary: The Cecil County real estate market had 324 homes for sale in May 2024, a 12.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 29 | 34 | +17.2% |
| 3 Bedrooms | 125 | 145 | +16.0% |
| 4 Bedrooms | 104 | 111 | +6.7% |
| 5+ Bedrooms | 30 | 32 | +6.7% |
Summary: The Cecil County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 17.2%, 3 bedroom homes increased by 16%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 68 | 52 | -23.5% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cecil County, you could pay more than the asking price. 48.1% of homes here sold above asking price last month.
Summary: A total of 52 homes were sold or pending in Cecil County in May 2024, down by 23.5% month-over-month. Of the 52 sold homes, 29% were sold under asking, 23% were sold at asking, and 48% were sold over asking.
Days on Market for Cecil County, MD
How long does it take to sell a home in Cecil County, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 18 Days | 25 Days | +39.1% |
Summary: Homes in Cecil County had an average of 25 days on market in May 2024, up by 39.1% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cecil County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 52 homes were sold in Cecil County; 75% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
