Montgomery County, Maryland, is an expensive home market with a median sale price of over $610,000 in May, but there are more affordable locations in Maryland.
Montgomery County is an expensive home market with a median sale price of over $610,000 in May, but there are more affordable locations in Maryland. Some are quite affordable.
According to a Maryland realtor, The median sales price for May in Allegany County, part of the Cumberland area, was just $127,450. This is down 3.7% from the median in May last year. Allegany County ranks as one of the cheapest counties in the country.
Somerset County, which faces the Chesapeake Bay, ranks as the second most affordable region, with a median May sales price of $162,000, down 25.7% from May 2022, but this Based on just 17 sales last month.
Baltimore City ranks as the third most affordable location in Maryland. The median selling price in May was $225,000, down 6.3% from 2022.
Only six counties in Maryland, including Baltimore, had a median sales price of less than $400,000 in May. The statewide median selling price was $411,000, up 1.5% from May last year.
Statewide, Maryland recorded 6,657 home sales last month, down 24.2% from a year earlier.
Here are May’s sales trends by Maryland, courtesy of Maryland Realtors:
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