Is Oakland, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Oakland has remained a Buyer's Market.
Key Takeaway
Oakland is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Oakland, MD
How much do homes in Oakland, MD cost?
Median Sold Price
$328,750
$216/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Oakland have sold for 1.2% more than they did a month ago.
Summary: The median home sold price in Oakland was $328,750 in May 2024, up 1.2% from last month, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $210K | $260K | +23.8% |
| 3 Bedrooms | $432.5K | $355K | -17.9% |
| 4 Bedrooms | $223.5K | $302.5K | +35.3% |
| 5+ Bedrooms | $1.0M | $1.9M | +79.7% |
Summary: Oakland housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 23.8%, 3 bedroom homes decreased by 17.9%, 4 bedroom homes increased by 35.3%, and 5+ bedroom homes increased by 79.7%.
Housing Supply in Oakland, MD
How many homes are available in Oakland, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 90 | 107 | +18.9% |
Summary: The Oakland real estate market had 107 homes for sale in May 2024, a 18.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 7 | +40.0% |
| 2 Bedrooms | 13 | 15 | +15.4% |
| 3 Bedrooms | 32 | 38 | +18.8% |
| 4 Bedrooms | 16 | 19 | +18.8% |
| 5+ Bedrooms | 24 | 28 | +16.7% |
Summary: The Oakland housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Oakland, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Oakland in May 2024, up by 14.3% month-over-month. Of the 8 sold homes, 75% were sold under asking, 13% were sold at asking, and 13% were sold over asking.
Days on Market for Oakland, MD
How long does it take to sell a home in Oakland, MD?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 57 Days | +275.1% |
Summary: Homes in Oakland had an average of 57 days on market in May 2024, up by 275.1% compared to last month.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Oakland are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Oakland; 63% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
