Real Estate Market Update for 21502 (Cumberland, MD)
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Welcome to May's Market Update,. Let’s take a look at residential real-estate activity in your area during the month of May. The number of active listings was down 1% from one year earlier, and up 5% from the previous month. This recent increase reflected a larger selection of homes for buyers to choose from. As you can see, the median listing price for the month was just under 110-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 7%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 90-thousand dollars. The number of units sold decreased 7% year-over-year, and increased 13% month-over-month. Despite a slight annual decrease, this upward monthly sales trend indicates positive momentum. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
Map Information for 21502 (Cumberland, MD)
Area Information for 21502 (Cumberland, MD)
  • Population: 45,310
  • Median Age: 41.1 yr
  • Median Commute Time: 14.5 mins
  • Educational Climate*: 3
  • Sales Tax: 6%
  • Population Density: 506/sq mi
  • Population Change Since 2000: .85%
  • Closest Airport: Arnold Palmer Regional
  • Closest College: Frostburg State University
  • Closest Jr. College: Allegany College Of Maryland
  • Median Household Income: $37,631
  • Annual Residential Turnover: 9.84%
  • Median Years in Residence: 4.76 yr
  • Median Home Sales Price: $90,000
  • Closest Major Sports Team: Altoona Curve
  • Change Avg. Household Income Since 2000: 21%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 21502 (Cumberland, MD)
Median Age: 41.1 Married: 30% Number of Households: 17,849 Households with Children: 4,610
Community:
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for 21502 (Cumberland, MD)

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      Beginnings- A Montessori Preschool And Kindergart 0.0 mi Private PRESCHOOL-K 0 0
      Transition Program At Cumberland 0.3 mi Public 12-12 0 0
      Allegany County Home & Hospital 0.5 mi Public 1-12 0 0
      Fort Hill High School 0.6 mi Public 9-12 2 3
      West Side Elementary School 0.8 mi Public PRESCHOOL-5 3 3
      Allegany High School 1.0 mi Public 9-12 2-5 4
      The Jefferson School At Finan Center 1.0 mi Private 5-12 0 0
      South Penn Elementary School 1.1 mi Public PRESCHOOL-5 1 5
      Washington Middle School 1.2 mi Public 6-8 3 3
      Braddock Middle School 1.2 mi Public 6-8 3 2
      Northeast Elementary School 1.7 mi Public PRESCHOOL-5 3-5 3
      Bishop Walsh School 1.9 mi Catholic PRESCHOOL-12 0 4
      John Humbird Elementary School 1.9 mi Public PRESCHOOL-5 2 4
      Lighthouse Christian Academy 1.9 mi Private PRESCHOOL-12 0 0
      Cash Valley Elementary School 3.1 mi Public PRESCHOOL-5 3-5 5
      Parkside Elementary School 3.7 mi Public PRESCHOOL-5 3 5
      Allegany County Evening High School 5.0 mi Public 11-12 0 0
      Center For Career & Technology Education 5.0 mi Public 11-12 1 0
      Calvary Christian Academy 5.4 mi Private PRESCHOOL-12 0 5
      Cresaptown Elementary School 5.8 mi Public PRESCHOOL-5 4 5
      Bel Air Elementary School 7.2 mi Public PRESCHOOL-5 4-5 5
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: GreatSchools.org and Onboard Informatics © 2014
      Local Weather for 21502 (Cumberland, MD)
        Community information and market data Powered by Onboard Informatics. Copyright ©2014 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.