Is Cheverly, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Cheverly was a Seller's Market.
Key Takeaway
Cheverly 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 Cheverly, MD
How much do homes in Cheverly, MD cost?
Median Sold Price
$485,000
$296/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cheverly have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in Cheverly was $485,000 in May 2024, up 2.1% from last year, and the median price per square foot was $296.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $277.5K | $431.4K | +55.5% |
| 3 Bedrooms | $450K | $475K | +5.6% |
| 4 Bedrooms | $510K | $541.2K | +6.1% |
| 5+ Bedrooms | $507.5K | $533K | +5.0% |
Summary: Cheverly housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 55.5%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 5%.
Housing Supply in Cheverly, MD
How many homes are available in Cheverly, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 25 | +25.0% |
Summary: The Cheverly real estate market had 25 homes for sale in May 2024, a 25.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 7 | 11 | +57.1% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Cheverly housing inventory by bedroom type for May 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 57.1%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Cheverly, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Cheverly in May 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Cheverly, MD
How long does it take to sell a home in Cheverly, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 28 Days | 19 Days | -29.7% |
Summary: Homes in Cheverly had an average of 19 days on market in May 2024, down by 29.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cheverly are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Cheverly; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
