$7,125 Closing Credit*
$600,000
2,550 SqFt
3 Beds
•3 Full Baths
Sarah A. Reynolds, Listing Office: Keller Williams Chantilly Ventures
Is New Market, 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, New Market has remained a Seller's Market.
Key Takeaway
New Market is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Market, MD
How much do homes in New Market, MD cost?
Median Sold Price
$589,930
$240/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$29,930(+5.3%)
Key Takeaway
Homes in New Market have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in New Market was $589,930 in November 2024, up 5.3% from last year, and the median price per square foot was $240.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $353.7K | $375K | +6.0% |
| 3 Bedrooms | $475K | $493.5K | +3.9% |
| 4 Bedrooms | $659K | $649.2K | -1.5% |
| 5+ Bedrooms | $797.5K | $750K | -6.0% |
Summary: New Market 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 6%, 3 bedroom homes increased by 3.9%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes decreased by 6%.
Median Sold Price Compared To Nearby Cities
| New Market | $560K | $589.9K | +5.3% |
| Monrovia | $630K | $632.5K | 0.4% |
Housing Supply in New Market, MD
How many homes are available in New Market, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 64 | 66 | +3.1% |
Summary: The New Market real estate market had 66 homes for sale in November 2024, a 3.1% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 16 | 21 | +31.3% |
| 4 Bedrooms | 26 | 26 | 0.0% |
| 5+ Bedrooms | 19 | 17 | -10.5% |
Summary: The New Market 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 decreased by 50%, 3 bedroom homes increased by 31.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 10.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 21 | 17 | -19.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Market, you could pay more than the asking price. 41.2% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in New Market in November 2024, down by 19.0% month-over-month. Of the 17 sold homes, 35% were sold under asking, 24% were sold at asking, and 41% were sold over asking.
Days on Market for New Market, MD
How long does it take to sell a home in New Market, MD?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 12 Days | 26 Days | +110.4% |
Summary: Homes in New Market had an average of 26 days on market in Nov 2024, up by 110.4% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in New Market are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 17 homes were sold in New Market; 65% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
