$2,078 Closing Credit*
$175,000
2,100 SqFt
3 Beds
•3 Full Baths
Kent Acquah-Abbiw, Listing Office: Ikon Realty
Is McElderry Park, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, McElderry Park was a Buyer's Market.
Key Takeaway
McElderry Park is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in McElderry Park, MD
How much do homes in McElderry Park, MD cost?
Median Sold Price
$125,000
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$4,900(-3.8%)
Key Takeaway
Homes in McElderry Park have sold for 3.8% less than they did a year ago.
Summary: The median home sold price in McElderry Park was $125,000 in November 2024, down 3.8% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $95K | - | N/A |
| 2 Bedrooms | $107.2K | $112.4K | +4.8% |
| 3 Bedrooms | $130K | $127.5K | -1.9% |
| 4 Bedrooms | $245K | $220K | -10.2% |
| 5+ Bedrooms | $160K | $260K | +62.5% |
Summary: McElderry Park housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.8%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes decreased by 10.2%, and 5+ bedroom homes increased by 62.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Madison / Eastend | $96.6K | $104K | +7.6% |
| Patterson Park | $286K | $292K | +2.1% |
| McElderry Park | $129.9K | $125K | -3.8% |
| Milton / Montford | $157.5K | $148K | -6.0% |
Housing Supply in McElderry Park, MD
How many homes are available in McElderry Park, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 45 | 57 | +26.7% |
Summary: The McElderry Park real estate market had 57 homes for sale in November 2024, a 26.7% increase 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 | 16 | 20 | +25.0% |
| 3 Bedrooms | 24 | 28 | +16.7% |
| 4 Bedrooms | 4 | 8 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The McElderry Park 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 25%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 9 | +80.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in McElderry Park, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in McElderry Park in November 2024, up by 80.0% month-over-month. Of the 9 sold homes, 22% were sold under asking, 11% were sold at asking, and 67% were sold over asking.
Days on Market for McElderry Park, MD
How long does it take to sell a home in McElderry Park, MD?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 6 Days | 29 Days | +332.9% |
Summary: Homes in McElderry Park had an average of 29 days on market in Nov 2024, up by 332.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in McElderry Park are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 9 homes were sold in McElderry Park; 56% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
