Is Smithsburg, 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, Smithsburg has remained a Seller's Market.
Key Takeaway
Smithsburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Smithsburg, MD
How much do homes in Smithsburg, MD cost?
Median Sold Price
$345,000
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Smithsburg have sold for 21.9% more than they did a year ago.
Summary: The median home sold price in Smithsburg was $345,000 in May 2024, up 21.9% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $76.1K | - | N/A |
| 2 Bedrooms | $255K | $290K | +13.7% |
| 3 Bedrooms | $277.5K | $297K | +7.0% |
| 4 Bedrooms | $330K | $420K | +27.3% |
| 5+ Bedrooms | $342K | $385K | +12.6% |
Summary: Smithsburg 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 13.7%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes increased by 12.6%.
Housing Supply in Smithsburg, MD
How many homes are available in Smithsburg, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 29 | +45.0% |
Summary: The Smithsburg real estate market had 29 homes for sale in May 2024, a 45.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 7 | 14 | +100.0% |
| 4 Bedrooms | 4 | 7 | +75.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Smithsburg housing inventory by bedroom type for May 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 100%, 4 bedroom homes increased by 75%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 7 | +600.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Smithsburg, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Smithsburg in May 2024, up by 600.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for Smithsburg, MD
How long does it take to sell a home in Smithsburg, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 10 Days | 7 Days | -28.6% |
Summary: Homes in Smithsburg had an average of 7 days on market in May 2024, down by 28.6% compared to last year.
Breakdown of Home Sale Times
7 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 Smithsburg are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Smithsburg; 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.
