Is Boonsboro, 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, Boonsboro was a Seller's Market.
Key Takeaway
Boonsboro is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Boonsboro, MD
How much do homes in Boonsboro, MD cost?
Median Sold Price
$350,000
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Boonsboro have sold for 10.1% less than they did a year ago.
Summary: The median home sold price in Boonsboro was $350,000 in May 2024, down 10.1% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $193.7K | $275K | +41.9% |
| 3 Bedrooms | $310K | $325K | +4.8% |
| 4 Bedrooms | $450K | $465K | +3.3% |
| 5+ Bedrooms | $535K | $520K | -2.8% |
Summary: Boonsboro 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 41.9%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 2.8%.
Housing Supply in Boonsboro, MD
How many homes are available in Boonsboro, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 31 | +19.2% |
Summary: The Boonsboro real estate market had 31 homes for sale in May 2024, a 19.2% 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 | 1 | 0 | -100.0% |
| 3 Bedrooms | 10 | 14 | +40.0% |
| 4 Bedrooms | 10 | 7 | -30.0% |
| 5+ Bedrooms | 5 | 10 | +100.0% |
Summary: The Boonsboro 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 100%, 3 bedroom homes increased by 40%, 4 bedroom homes decreased by 30%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 3 | -62.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Boonsboro, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Boonsboro in May 2024, down by 62.5% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for Boonsboro, MD
How long does it take to sell a home in Boonsboro, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 16 Days | +3.7% |
Summary: Homes in Boonsboro had an average of 16 days on market in May 2024, up by 3.7% compared to last year.
Breakdown of Home Sale Times
3 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 Boonsboro are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Boonsboro; 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.
