Oakland Housing Market Report December 2024•Garrett County, Maryland

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Housing Prices in Oakland, MD

How much do homes in Oakland, MD cost?

Housing Market Conditions

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

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Oakland is a Neutral Market

Difference Since November 2024

Last month, Oakland was a Buyer's Market.

Insight

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

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$385,000$238/SqFt
+$8,000
+2.1%

Based on all homes sold in December 2024

Insight

Homes in Oakland have sold for 2.1% more than they did a month ago.

Summary: The median home sold price in Oakland was $385,000 in December 2024, up 2.1% from last month, and the median price per square foot was $238.

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsNov 2024Dec 2024Change MoM
1-$270K
N/A
2$303K-
N/A
3$294.5K$312.5K
+6.1%
4$422.5K$255K
-39.6%
5$879K$950K
+8.1%

Summary: Oakland housing price by bedroom type for December 2024, compared to the previous month. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes increased by +6.1%. The home price for 4 bedroom homes decreased by -39.6%. The home price for 5 bedroom homes increased by +8.1%.

Housing supply in Oakland, MD

How many homes are available in Oakland, MD?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
97Last MonthDec 2024
912 months agoNov 2024
+6.6 %
Change MoMNov – Dec

Summary: The Oakland real estate market had 97 homes for sale in Dec 2024, a 6.6 % increase compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
15Last MonthDec 2024
102 months agoNov 2024
+50.0 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
146
+50.0%
2911
+22.2%
33234
+6.3%
42021
+5.0%
52625
-3.8%

Summary: Oakland housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes increased by +50.0%. The inventory for 2 bedroom homes increased by +22.2%. The inventory for 3 bedroom homes increased by +6.3%. The inventory for 4 bedroom homes increased by +5.0%. The inventory for 5 bedroom homes decreased by -3.8%.

Asking Price vs. Sold Price

How much do homes in Oakland, MD cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price1 Home

At Asking Price2 Homes

Under Asking Price12 Homes

Insight

If you're buying a home in Oakland, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in Oakland in December 2024, up by 50.0% month-over-month. Of the 15 sold homes, 80% were sold under asking, 13% were sold at asking, and and 7% were sold over asking.

Days on Market for Oakland, MD

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

Breakdown of Home Sale Times

Under 30 Days3 Homes

30 – 90 Days5 Homes

Over 90 Days7 Homes

Insight

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

Summary: During December 2024, 15 homes were sold in Oakland; 20% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 47% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
Last Month1 month agoChange MoM
127 DaysLast MonthDec 2024
78 Days1 month agoNov 2024
+63.3 %
Change MoMNov – Dec

Summary: Homes in Oakland had an average listing age of 127 days in Dec 2024, up by 63.3% compared to the previous month.

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Newest Listings in Oakland, MD

What homes are available in Oakland, MD?

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Nearby markets

Popular Cities with Homes for Sale in Maryland

MLS Disclaimers and Copyright

Based on information from BrightMLS, and North Central West Virginia Real Estate Information Network Inc. for the period 11/01/2024 - 01/01/2025

IDX Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.

BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2025 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/21/2025, 8:15:24 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange (IDX) program of North Central WV Real Estate Information Network, Inc. IDX information is provided exclusively for consumers' personal non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are marked with the BR logo and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. All Information Is Deemed Reliable But Is Not Guaranteed Accurate. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
© 2025 North Central West Virginia Real Estate Information Network, Inc. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/21/2025, 8:20:57 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.