Is Phoenix, 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, Phoenix was a Seller's Market.
Key Takeaway
Phoenix is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Phoenix, MD
How much do homes in Phoenix, MD cost?
Median Sold Price
$731,250
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Phoenix have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Phoenix was $731,250 in May 2024, up 4.5% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $645K | $600K | -7.0% |
| 3 Bedrooms | $495K | $607.5K | +22.7% |
| 4 Bedrooms | $668.5K | $704.9K | +5.5% |
| 5+ Bedrooms | $792.5K | $950K | +19.9% |
Summary: Phoenix 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 decreased by 7%, 3 bedroom homes increased by 22.7%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 19.9%.
Median Sold Price Compared To Nearby Cities
| Glen Arm | $575K | $612.2K | +6.5% |
| Cockeysville | $425K | $450K | +5.9% |
| Baldwin | $630K | $664K | +5.4% |
| Phoenix | $700K | $731.2K | +4.5% |
| Monkton | $815K | $775K | -4.9% |
Housing Supply in Phoenix, MD
How many homes are available in Phoenix, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 27 | +35.0% |
Summary: The Phoenix real estate market had 27 homes for sale in May 2024, a 35.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 3 | 5 | +66.7% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The Phoenix 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 remained the same, 3 bedroom homes increased by 66.7%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Phoenix, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in Phoenix in May 2024, down by 50.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Phoenix, MD
How long does it take to sell a home in Phoenix, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 10 Days | 2 Days | -75.0% |
Summary: Homes in Phoenix had an average of 2 days on market in May 2024, down by 75% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Phoenix are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Phoenix; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
