Is Hagerstown, 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, Hagerstown was a Seller's Market.
Key Takeaway
Hagerstown 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 Hagerstown, MD
How much do homes in Hagerstown, MD cost?
Median Sold Price
$300,153
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Hagerstown have sold for 14.1% more than they did a year ago.
Summary: The median home sold price in Hagerstown was $300,153 in May 2024, up 14.1% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $106K | $125K | +17.9% |
| 2 Bedrooms | $205K | $232K | +13.2% |
| 3 Bedrooms | $249.6K | $290K | +16.2% |
| 4 Bedrooms | $342.5K | $388.4K | +13.4% |
| 5+ Bedrooms | $445K | $449.9K | +1.1% |
Summary: Hagerstown housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.9%, 2 bedroom homes increased by 13.2%, 3 bedroom homes increased by 16.2%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes increased by 1.1%.
Housing Supply in Hagerstown, MD
How many homes are available in Hagerstown, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 346 | 405 | +17.1% |
Summary: The Hagerstown real estate market had 405 homes for sale in May 2024, a 17.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 5 | +66.7% |
| 2 Bedrooms | 59 | 67 | +13.6% |
| 3 Bedrooms | 159 | 188 | +18.2% |
| 4 Bedrooms | 94 | 116 | +23.4% |
| 5+ Bedrooms | 31 | 29 | -6.5% |
Summary: The Hagerstown housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 23.4%, and 5+ bedroom homes decreased by 6.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 68 | 66 | -2.9% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hagerstown, you may be able to get a good deal. 39.4% of homes here sold below asking price last month.
Summary: A total of 66 homes were sold or pending in Hagerstown in May 2024, down by 2.9% month-over-month. Of the 66 sold homes, 39% were sold under asking, 24% were sold at asking, and 36% were sold over asking.
Days on Market for Hagerstown, MD
How long does it take to sell a home in Hagerstown, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 57 Days | +131.1% |
Summary: Homes in Hagerstown had an average of 57 days on market in May 2024, up by 131.1% compared to last year.
Breakdown of Home Sale Times
47 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hagerstown are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 66 homes were sold in Hagerstown; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
