$5,047 Closing Credit*
$425,000
1,948 SqFt
4 Beds
•3 Full Baths
Christine T Catalano, Listing Office: Coldwell Banker Realty
Is Galena, 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, Galena has remained a Seller's Market.
Key Takeaway
Galena is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Galena, MD
How much do homes in Galena, MD cost?
Median Sold Price
$374,000
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$64,000(+20.6%)
Key Takeaway
Homes in Galena have sold for 20.6% more than they did a year ago.
Summary: The median home sold price in Galena was $374,000 in October 2024, up 20.6% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $269K | $492.5K | +83.1% |
| 3 Bedrooms | $305K | $360K | +18.0% |
| 4 Bedrooms | $535K | $475K | -11.2% |
| 5+ Bedrooms | $235K | $1.8M | +689.4% |
Summary: Galena 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 increased by 83.1%, 3 bedroom homes increased by 18%, 4 bedroom homes decreased by 11.2%, and 5+ bedroom homes increased by 689.4%.
Housing Supply in Galena, MD
How many homes are available in Galena, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 12 | +33.3% |
Summary: The Galena real estate market had 12 homes for sale in October 2024, a 33.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 5 | 8 | +60.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Galena 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 remained the same, 3 bedroom homes increased by 60%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Galena, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Galena in October 2024, up by 400.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for Galena, MD
How long does it take to sell a home in Galena, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 54 Days | 10 Days | -80.1% |
Summary: Homes in Galena had an average of 10 days on market in Oct 2024, down by 80.1% compared to last year.
Breakdown of Home Sale Times
5 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 Galena are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in Galena; 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.
