$3,561 Closing Credit*
$299,900
2,016 SqFt
3 Beds
•3 Full Baths
Jade L Neblett, Listing Office: Brick and Quill 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 October 2023
At the same time last year, McElderry Park was a Seller's Market.
Key Takeaway
McElderry Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in McElderry Park, MD
How much do homes in McElderry Park, MD cost?
Median Sold Price
$125,000
$122/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$5,000(-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 October 2024, down 3.8% from last year, and the median price per square foot was $122.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $95K | - | N/A |
| 2 Bedrooms | $115K | $112.4K | -2.2% |
| 3 Bedrooms | $130K | $127.5K | -1.9% |
| 4 Bedrooms | $245K | $224.5K | -8.4% |
| 5+ Bedrooms | $160K | $260K | +62.5% |
Summary: McElderry Park 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 2.2%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes decreased by 8.4%, and 5+ bedroom homes increased by 62.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Madison / Eastend | $99.2K | $104.5K | +5.3% |
| Patterson Park | $286K | $290K | +1.4% |
| McElderry Park | $130K | $125K | -3.8% |
| Ellwood Park / Monument | $115K | $105K | -8.7% |
| Milton / Montford | $166K | $144K | -13.3% |
Housing Supply in McElderry Park, MD
How many homes are available in McElderry Park, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 40 | 47 | +17.5% |
Summary: The McElderry Park real estate market had 47 homes for sale in October 2024, a 17.5% 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 | 12 | 17 | +41.7% |
| 3 Bedrooms | 25 | 24 | -4.0% |
| 4 Bedrooms | 2 | 5 | +150.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The McElderry Park 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 increased by 41.7%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 150%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 5 | -37.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in McElderry Park, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in McElderry Park in October 2024, down by 37.5% month-over-month. Of the 5 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 43 Days | 119 Days | +175.7% |
Summary: Homes in McElderry Park had an average of 119 days on market in Oct 2024, up by 175.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in McElderry Park are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 5 homes were sold in McElderry Park; 20% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.
