Skip to main content

Allegany County, MD — Real Estate Market Update | May 2025

 Presented by Katelyn Mayer, PA & MD REALTOR® | Iron Valley Real Estate

Market Overview

  • Market Type: Balanced with some Seller’s Market conditions

  • Months of Inventory: 2.97 months (down 14.4% from last month, +21.7% year-over-year) — moderate inventory favors neither buyers nor sellers strongly

  • Median Sold Price: $157,000 (up 3.7% month-over-month)

  • Sold to List Price Ratio: 98.1% (homes are selling close to list price)

  • Median Days on Market: 43 days (up 48.3%) — homes are taking longer to sell

Listings & Sales

  • Active Listings: 164 single-family homes

    • Median List Price: $160,000 (+4.5%)

    • Median Living Area: 1,765 sqft (+5.8%)

    • Median Price per Sqft: $104 (+3.7%)

  • New Listings: 83 homes

    • Median List Price: $169,000 (+6.3%)

    • Median Price per Sqft: $114 (+1.8%)

  • Pending Listings: 90 homes

    • Median List Price: $147,450 (+1.6%)

    • Median Days on Market: 61 days (up 56.4%)

  • New Pending Listings: 80 homes

    • Median List Price: $160,500 (+12.6%)

    • Median Price per Sqft: $115 (+7.5%)

  • Sold Listings: 65 homes

    • Median Sold Price: $157,000 (+3.7%)

    • Median Price per Sqft: $110 (+4.8%)

    • Median Days on Market: 43 days (up 48.3%)

Property Value Trends

  • Median Estimated Value (Single Family): $174,190 (virtually unchanged from last month, +8.2% year-over-year)

  • Median Living Area Size: About 1,664 sqft on average

  • Median Price per Sqft: Between $104 and $115 across various listing stages

Key Takeaways

  • The Allegany County market is showing stable home values with moderate inventory levels.

  • Homes are selling slightly below list price on average and are taking longer to sell compared to previous months.

  • The median sold price and property values are increasing modestly, reflecting steady demand.

If you’re thinking about buying or selling in Allegany County, Maryland, I’d be happy to guide you through the current market conditions. Reach out for a personalized consultation!

Katelyn Mayer
PA & MD REALTOR® | Iron Valley Real Estate of Central PA
📍 121 Towne Square Dr. Suite 203, Hershey, PA 17033
📧 katelynm359@gmail.com | 📱 717-446-1640 | ☎️ 717-563-0008
🌐 kmayer.ironvalleyrealestate.com

Comments

Post a Comment

Popular posts from this blog

Understanding Property Tax Disbursement From Escrow: What Every Homeowner Should Know

  By Katelyn Mayer, Realtor If you’re a homeowner—or thinking about becoming one—understanding how property taxes are paid can save you stress and help you manage your budget better. One of the most common questions I get from clients is: “How does my lender pay my property taxes, and what is this escrow thing all about?” Let’s break it down. What Is an Escrow Account? When you buy a home with a mortgage, your lender often requires an escrow account. This is basically a special savings account that holds money collected each month from you to pay for certain expenses—most commonly, property taxes and homeowners insurance. Instead of paying your tax bill in one lump sum once or twice a year, your lender collects a bit every month and pays the taxing authority on your behalf. This system can make budgeting easier, so you don’t have to worry about coming up with thousands of dollars all at once. How Does It Work? Let’s say your annual property tax bill is $6,000. Your lender wi...
Post a Comment
Read more

Rental Options in East York & Red Lion

Discover a wide range of rental homes tailored to fit various lifestyles and budgets in East York and nearby Red Lion. Whether you're searching for a cozy one-bedroom apartment or a spacious three-bedroom townhome, there's something here for everyone. 📍 East York Springett’s Apartments 📍 50 Eisenhower Dr, York, PA 17402 1- and 2-bedroom level apartments 🔗 manorcommunities.com Suburban Park Apartments 📍 2685 Carnegie Rd, East York, PA 17402 1- and 2-bedroom apartments 🔗 liveatsuburbanpark.com Fallbrook Flats 📍 3889 E Market St, York, PA 17402 1-, 2-, and 3-bedroom apartments 🔗 jcmliving.com The Apartments at Waterford 📍 200 Governors Pl, York, PA 17402 Modern layouts with 1- to 3-bedroom options 🔗 waterford.theapartmentgallery.com Hillside Apartments 📍 1927 Queenswood Dr, York, PA 17403 1- and 2-bedroom apartments 🔗 theapartmentgallery.com/hillside-apartments East Breeze Apartments 📍 21-23 S Northern Way, York, PA 17402 1- and 2-bedroom apartments ...
Post a Comment
Read more

Rental & Fair Market Overview – Central PA (June 2025)

  Region: South Central PA  Covering: Dauphin, Cumberland, Franklin, Fulton, Adams, York, Lancaster, Berks, and Lebanon Counties Fair Market Rent Overview (HUD 2025 Benchmarks) Unit Size Rent Range Notes Studio $850–$975 Increasing demand in Harrisburg and York City 1BR $975–$1,200 Strong demand across all counties 2BR $1,200–$1,450 Popular for both families and roommates 3BR $1,500–$1,750 Steady turnover, higher cash flow potential 4BR $1,650–$2,000+ Limited inventory = higher rent resilience Highest rents generally appear in Lancaster, Dauphin, and York , while Fulton and Franklin trend lower but offer better cap rate potential. Occupancy & Rental Demand Occupancy across the region : ~95%–97% (above national average) Average days on market : 28–37 days depending on zip code Turnover rate : Steady in LTR; STR varies seasonally Investor Insight: Regional Themes STR Opportunity Zones : Gettysburg, Hershey, Downtown Lancaster, Midtown Harrisburg, and York Cit...
Post a Comment
Read more