Is Joppa, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Joppa was a Seller's Market.
Key Takeaway
Joppa is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Joppa, MD
How much do homes in Joppa, MD cost?
Median Sold Price
$326,000
$190/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Joppa have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in Joppa was $326,000 in May 2024, up 2.7% from last year, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $310K | N/A |
| 2 Bedrooms | $240K | $281.7K | +17.4% |
| 3 Bedrooms | $297.5K | $301K | +1.2% |
| 4 Bedrooms | $392.3K | $400K | +1.9% |
| 5+ Bedrooms | $439.5K | $426K | -3.1% |
Summary: Joppa housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 17.4%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 3.1%.
Median Sold Price Compared To Nearby Cities
| Edgewood | $230K | $245K | +6.5% |
| Abingdon | $321.1K | $335K | +4.3% |
| Joppa | $317.5K | $326K | +2.7% |
| Kingsville | $550K | $547.5K | -0.5% |
| White Marsh | $533K | $520K | -2.4% |
Housing Supply in Joppa, MD
How many homes are available in Joppa, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 69 | 73 | +5.8% |
Summary: The Joppa real estate market had 73 homes for sale in May 2024, a 5.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 11 | 7 | -36.4% |
| 3 Bedrooms | 24 | 28 | +16.7% |
| 4 Bedrooms | 28 | 31 | +10.7% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Joppa housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 36.4%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 10 | -41.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Joppa, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Joppa in May 2024, down by 41.2% month-over-month. Of the 10 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for Joppa, MD
How long does it take to sell a home in Joppa, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 12 Days | 13 Days | +8.6% |
Summary: Homes in Joppa had an average of 13 days on market in May 2024, up by 8.6% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Joppa are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in Joppa; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
