Is Sparrows Point, 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, Sparrows Point has remained a Seller's Market.
Key Takeaway
Sparrows Point is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sparrows Point, MD
How much do homes in Sparrows Point, MD cost?
Median Sold Price
$388,000
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sparrows Point have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in Sparrows Point was $388,000 in May 2024, up 6.3% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $270.7K | $195K | -28.0% |
| 2 Bedrooms | $232.9K | $212K | -9.0% |
| 3 Bedrooms | $354.9K | $349.9K | -1.4% |
| 4 Bedrooms | $410K | $442.5K | +7.9% |
| 5+ Bedrooms | $365K | $452.4K | +24.0% |
Summary: Sparrows Point housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 28%, 2 bedroom homes decreased by 9%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 24%.
Housing Supply in Sparrows Point, MD
How many homes are available in Sparrows Point, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 33 | +26.9% |
Summary: The Sparrows Point real estate market had 33 homes for sale in May 2024, a 26.9% 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 | 3 | 4 | +33.3% |
| 3 Bedrooms | 13 | 16 | +23.1% |
| 4 Bedrooms | 10 | 11 | +10.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Sparrows Point 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 increased by 33.3%, 3 bedroom homes increased by 23.1%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sparrows Point, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Sparrows Point in May 2024, up by 20.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.
Days on Market for Sparrows Point, MD
How long does it take to sell a home in Sparrows Point, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 55 Days | 26 Days | -51.8% |
Summary: Homes in Sparrows Point had an average of 26 days on market in May 2024, down by 51.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Sparrows Point are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Sparrows Point; 83% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
