$784 Closing Credit*
$66,000
3 Beds
•1 Full Bath
Wilmer Bucarelo, Listing Office: Douglas Realty
Is West, 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, West was a Seller's Market.
Key Takeaway
West is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in West, MD
How much do homes in West, MD cost?
Median Sold Price
$93,971
$90/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$7,904(+9.2%)
Key Takeaway
Homes in West have sold for 9.2% more than they did a year ago.
Summary: The median home sold price in West was $93,971 in October 2024, up 9.2% from last year, and the median price per square foot was $90.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $26.9K | $63K | +133.8% |
| 2 Bedrooms | $48K | $57K | +18.8% |
| 3 Bedrooms | $77K | $79.5K | +3.4% |
| 4 Bedrooms | $168K | $195K | +16.1% |
| 5+ Bedrooms | $92.5K | $200.9K | +117.2% |
Summary: West housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 133.8%, 2 bedroom homes increased by 18.8%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes increased by 117.2%.
Housing Supply in West, MD
How many homes are available in West, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 300 | 326 | +8.7% |
Summary: The West real estate market had 326 homes for sale in October 2024, a 8.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 35 | 35 | 0.0% |
| 3 Bedrooms | 175 | 184 | +5.1% |
| 4 Bedrooms | 66 | 79 | +19.7% |
| 5+ Bedrooms | 23 | 27 | +17.4% |
Summary: The West 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 remained the same, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 19.7%, and 5+ bedroom homes increased by 17.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 34 | 33 | -2.9% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 33 homes were sold or pending in West in October 2024, down by 2.9% month-over-month. Of the 33 sold homes, 39% were sold under asking, 15% were sold at asking, and 45% were sold over asking.
Days on Market for West, MD
How long does it take to sell a home in West, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 46 Days | 55 Days | +21.5% |
Summary: Homes in West had an average of 55 days on market in Oct 2024, up by 21.5% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 33 homes were sold in West; 39% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
