$4,738 Closing Credit*
$399,000
3,172 SqFt
3 Beds
•2 Full Baths, 1 Partial
Frank N Willetts, Listing Office: Long & Foster Real Estate, Inc.
Is Cumberland, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Cumberland has remained a Seller's Market.
Key Takeaway
Cumberland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cumberland, MD
How much do homes in Cumberland, MD cost?
Median Sold Price
$149,237
$98/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$19,337(+14.9%)
Key Takeaway
Homes in Cumberland have sold for 14.9% more than they did a year ago.
Summary: The median home sold price in Cumberland was $149,237 in November 2024, up 14.9% from last year, and the median price per square foot was $98.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $27K | $60K | +122.2% |
| 2 Bedrooms | $90K | $110.5K | +22.9% |
| 3 Bedrooms | $133K | $148.5K | +11.7% |
| 4 Bedrooms | $188.7K | $215K | +13.9% |
| 5+ Bedrooms | $178K | $262.5K | +47.5% |
Summary: Cumberland housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 122.2%, 2 bedroom homes increased by 22.9%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes increased by 47.5%.
Housing Supply in Cumberland, MD
How many homes are available in Cumberland, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 201 | 190 | -5.5% |
Summary: The Cumberland real estate market had 190 homes for sale in November 2024, a 5.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 28 | 31 | +10.7% |
| 3 Bedrooms | 107 | 100 | -6.5% |
| 4 Bedrooms | 44 | 39 | -11.4% |
| 5+ Bedrooms | 22 | 20 | -9.1% |
Summary: The Cumberland housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10.7%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes decreased by 11.4%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 42 | 44 | +4.8% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cumberland, you may be able to get a good deal. 47.7% of homes here sold below asking price last month.
Summary: A total of 44 homes were sold or pending in Cumberland in November 2024, up by 4.8% month-over-month. Of the 44 sold homes, 48% were sold under asking, 16% were sold at asking, and 36% were sold over asking.
Days on Market for Cumberland, MD
How long does it take to sell a home in Cumberland, MD?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 31 Days | 44 Days | +38.7% |
Summary: Homes in Cumberland had an average of 44 days on market in Nov 2024, up by 38.7% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cumberland are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 44 homes were sold in Cumberland; 66% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
