Real Estate Market Update for Cumberland, MD
Welcome to June'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 23% from one year earlier, and up 1% 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 over 110-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 11%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just over 60-thousand dollars. The number of units sold decreased 37% year-over-year, and decreased 13% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. 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.
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Map Information for Cumberland, MD
Area Information for Cumberland, MD
  • Population: 20,441
  • Median Age: 41.62 yr
  • Median Commute Time: 19 mins
  • Educational Climate*: 3
  • Sales Tax: 6%
  • Population Density: 2,027/sq mi
  • Population Change Since 2000: -6.28%
  • Closest Airport: Arnold Palmer Regional
  • Closest College: Frostburg State University
  • Closest Jr. College: Allegany College Of Maryland
  • Median Household Income: $32,785
  • Annual Residential Turnover: 14%
  • Median Home Sales Price: $70,000
  • Closest Major Sports Team: Altoona Curve (aa)
  • Change Avg. Household Income Since 2000: 37.93%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Cumberland, MD
Median Age: 41.62 Married: 34% Number of Households: 9,056 Households with Children: 2,096
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 Cumberland, MD

      School Name Distance Type Grades School Rating Parent Rating
      John Humbird Elementary School 1.3 mi Public PRESCHOOL-5 2 0
      South Penn Elementary School 1.8 mi Public PRESCHOOL-5 1 0
      West Side Elementary School 1.8 mi Public PRESCHOOL-5 2 4
      Beginnings- A Montessori Preschool And Kindergart 2.1 mi Private PRESCHOOL-6 0 0
      Allegany High School 2.2 mi Public 9-12 3 3
      Washington Middle School 2.4 mi Public 6-8 2 0
      Parkside Elementary School 2.5 mi Public PRESCHOOL-5 4 0
      Fort Hill High School 2.5 mi Public 9-12 2 4
      Center For Career & Technology Education 2.5 mi Public 11-12 2 4
      Bishop Walsh School 2.5 mi Catholic PRESCHOOL-12 0 0
      Braddock Middle School 2.9 mi Public 6-8 3 0
      Calvary Christian Academy 3.0 mi Private PRESCHOOL-12 0 0
      Cash Valley Elementary School 3.2 mi Public PRESCHOOL-5 3 0
      Cresaptown Elementary School 3.4 mi Public PRESCHOOL-5 3 0
      The Jefferson School At Finan Center 3.5 mi Private K-12 0 0
      Northeast Elementary School 3.9 mi Public PRESCHOOL-5 3 0
      Lighthouse Christian Academy 4.4 mi Private PRESCHOOL-12 0 0
      Bel Air Elementary School 4.7 mi Public PRESCHOOL-5 3 0
      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: Onboard Informatics © 2016. School Performance data by SchoolDigger.com. School Review data by Niche.com.
      Local Weather for Cumberland, MD
        Community information and market data Powered by Onboard Informatics. Copyright ©2016 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.