Is Cambridge, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cambridge is a neutral's market

Buyer's
Market

Difference Since April 2023

At the same time last year, Cambridge was a Seller's Market.

Key Takeaway

Cambridge is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Cambridge, MD

How much do homes in Cambridge, MD cost?

Median Sold Price

$256,250

$158/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$6,305(+2.5%)

Key Takeaway

Homes in Cambridge have sold for 2.5% more than they did a year ago.

Summary: The median home sold price in Cambridge was $256,250 in April 2024, up 2.5% from last year, and the median price per square foot was $158.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 -$391K
N/A
2 $155.2K$165K
+6.3%
3 $227.4K$222.5K
-2.2%
4 $307.7K$309.9K
+0.7%
5+ $312.5K$375K
+20.0%

Summary: Cambridge housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.3%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes increased by 20%.

Housing Supply in Cambridge, MD

How many homes are available in Cambridge, MD?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
138144+4.3%

Summary: The Cambridge real estate market had 144 homes for sale in April 2024, a 4.3% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 11
0.0%
2 2932
+10.3%
3 6159
-3.3%
4 3739
+5.4%
5+ 1013
+30.0%

Summary: The Cambridge housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10.3%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 30%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
2322-4.3%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cambridge, you may be able to get a good deal. 63.6% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in Cambridge in April 2024, down by 4.3% month-over-month. Of the 22 sold homes, 64% were sold under asking, 14% were sold at asking, and 23% were sold over asking.

Days on Market for Cambridge, MD

How long does it take to sell a home in Cambridge, MD?

Average Sale Time

Apr 2023Apr 2024CHANGE
66 Days78 Days+17.5%

Summary: Homes in Cambridge had an average of 78 days on market in Apr 2024, up by 17.5% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Cambridge are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During April 2024, 22 homes were sold in Cambridge; 32% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 41% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 12 Days Ago

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