$3,859 Closing Credit*
$325,000
1,280 SqFt
2 Beds
•2 Full Baths, 1 Partial
Sherietta T Dunton, Listing Office: The Realty Shoppe LLC
Is Westphalia, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Westphalia has remained a Seller's Market.
Key Takeaway
Westphalia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Westphalia, MD
How much do homes in Westphalia, MD cost?
Median Sold Price
$498,853
$234/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$768(+0.2%)
Key Takeaway
The sold price of homes in Westphalia has remained the same since last year.
Summary: The median home sold price in Westphalia was $498,853 in October 2024, up 0.2% from last year, and the median price per square foot was $234.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $255.7K | $381K | +49.0% |
| 3 Bedrooms | $492.5K | $495K | 0.5% |
| 4 Bedrooms | $520K | $570.2K | +9.7% |
| 5+ Bedrooms | $785K | $700K | -10.8% |
Summary: Westphalia 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 increased by 49%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes decreased by 10.8%.
Housing Supply in Westphalia, MD
How many homes are available in Westphalia, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 73 | 67 | -8.2% |
Summary: The Westphalia real estate market had 67 homes for sale in October 2024, a 8.2% decrease 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 | 7 | 2 | -71.4% |
| 3 Bedrooms | 37 | 33 | -10.8% |
| 4 Bedrooms | 17 | 17 | 0.0% |
| 5+ Bedrooms | 12 | 15 | +25.0% |
Summary: The Westphalia 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 decreased by 71.4%, 3 bedroom homes decreased by 10.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 21 | +23.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westphalia, you could pay more than the asking price. 38.1% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in Westphalia in October 2024, up by 23.5% month-over-month. Of the 21 sold homes, 29% were sold under asking, 33% were sold at asking, and 38% were sold over asking.
Days on Market for Westphalia, MD
How long does it take to sell a home in Westphalia, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 31 Days | 41 Days | +34.3% |
Summary: Homes in Westphalia had an average of 41 days on market in Oct 2024, up by 34.3% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Westphalia are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 21 homes were sold in Westphalia; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
