Is New Market, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, New Market has remained a Seller's Market.
Housing Prices in New Market, MD
How much do homes in New Market, MD cost?
Median Sold Price
$581,237
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in New Market was $581,237 in May 2024, up 11.5% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $345K | $371.5K | +7.7% |
3 Bedrooms | $468.2K | $495K | +5.7% |
4 Bedrooms | $675K | $665K | -1.5% |
5+ Bedrooms | $737.5K | $795K | +7.8% |
Summary: New Market housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 5.7%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes increased by 7.8%.
Median Sold Price Compared To Nearby Cities
New Market | $521.5K | $581.2K | +11.5% |
Monrovia | $625K | $650K | +4.0% |
Housing Supply in New Market, MD
How many homes are available in New Market, MD?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
66 | 87 | +31.8% |
Summary: The New Market real estate market had 87 homes for sale in May 2024, a 31.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 4 | 3 | -25.0% |
3 Bedrooms | 17 | 20 | +17.6% |
4 Bedrooms | 32 | 45 | +40.6% |
5+ Bedrooms | 13 | 18 | +38.5% |
Summary: The New Market housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 40.6%, and 5+ bedroom homes increased by 38.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
20 | 17 | -15.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 17 homes were sold or pending in New Market in May 2024, down by 15.0% month-over-month. Of the 17 sold homes, 12% were sold under asking, 24% were sold at asking, and 65% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
11 Days | 13 Days | +17.4% |
Summary: Homes in New Market had an average of 13 days on market in May 2024, up by 17.4% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 17 homes were sold in New Market; 88% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.