$5,166 Closing Credit*
$435,000
1,751 SqFt
3 Beds
•2 Full Baths, 2 Partial
Tim Karns, Listing Office: RE/MAX Components
Is Elkridge, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Elkridge has remained a Seller's Market.
Key Takeaway
Elkridge is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elkridge, MD
How much do homes in Elkridge, MD cost?
Median Sold Price
$457,000
$242/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$1,436(+0.3%)
Key Takeaway
The sold price of homes in Elkridge has remained the same since last year.
Summary: The median home sold price in Elkridge was $457,000 in October 2024, up 0.3% from last year, and the median price per square foot was $242.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $300K | $295K | -1.7% |
| 3 Bedrooms | $430K | $445K | +3.5% |
| 4 Bedrooms | $565K | $582.4K | +3.1% |
| 5+ Bedrooms | $662.5K | $570K | -14.0% |
Summary: Elkridge housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.7%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes decreased by 14%.
Median Sold Price Compared To Nearby Neighborhoods
| Elkridge | $455.5K | $457K | 0.3% |
| Ilchester | $500K | $500K | 0.0% |
Housing Supply in Elkridge, MD
How many homes are available in Elkridge, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 64 | 74 | +15.6% |
Summary: The Elkridge real estate market had 74 homes for sale in October 2024, a 15.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 36 | 39 | +8.3% |
| 4 Bedrooms | 16 | 25 | +56.3% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Elkridge housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 56.3%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 21 | -8.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elkridge, expect to pay close to the asking price. 42.9% of homes here sold near the asking price last month.
Summary: A total of 21 homes were sold or pending in Elkridge in October 2024, down by 8.7% month-over-month. Of the 21 sold homes, 24% were sold under asking, 43% were sold at asking, and 33% were sold over asking.
Days on Market for Elkridge, MD
How long does it take to sell a home in Elkridge, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 7 Days | 16 Days | +118.2% |
Summary: Homes in Elkridge had an average of 16 days on market in Oct 2024, up by 118.2% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elkridge are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 21 homes were sold in Elkridge; 76% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
