Is Mechanicsville, 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, Mechanicsville has remained a Seller's Market.
Key Takeaway
Mechanicsville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mechanicsville, MD
How much do homes in Mechanicsville, MD cost?
Median Sold Price
$387,550
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mechanicsville have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in Mechanicsville was $387,550 in May 2024, up 3.3% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $240K | $285K | +18.8% |
| 3 Bedrooms | $349K | $359.9K | +3.2% |
| 4 Bedrooms | $405K | $410K | +1.2% |
| 5+ Bedrooms | $582.2K | $565K | -3.0% |
Summary: Mechanicsville 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 18.8%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes decreased by 3%.
Housing Supply in Mechanicsville, MD
How many homes are available in Mechanicsville, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 78 | 88 | +12.8% |
Summary: The Mechanicsville real estate market had 88 homes for sale in May 2024, a 12.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 42 | 41 | -2.4% |
| 4 Bedrooms | 25 | 32 | +28.0% |
| 5+ Bedrooms | 11 | 14 | +27.3% |
Summary: The Mechanicsville 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 remained the same, 3 bedroom homes decreased by 2.4%, 4 bedroom homes increased by 28%, and 5+ bedroom homes increased by 27.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 15 | -34.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mechanicsville, expect to pay close to the asking price. 46.7% of homes here sold near the asking price last month.
Summary: A total of 15 homes were sold or pending in Mechanicsville in May 2024, down by 34.8% month-over-month. Of the 15 sold homes, 40% were sold under asking, 47% were sold at asking, and 13% were sold over asking.
Days on Market for Mechanicsville, MD
How long does it take to sell a home in Mechanicsville, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 20 Days | 18 Days | -12.0% |
Summary: Homes in Mechanicsville had an average of 18 days on market in May 2024, down by 12% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Mechanicsville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 15 homes were sold in Mechanicsville; 80% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
