Is Leonardtown, 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, Leonardtown was a Seller's Market.
Key Takeaway
Leonardtown is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Leonardtown, MD
How much do homes in Leonardtown, MD cost?
Median Sold Price
$549,995
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Leonardtown have sold for 17.1% more than they did a year ago.
Summary: The median home sold price in Leonardtown was $549,995 in May 2024, up 17.1% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $379.9K | $269.9K | -28.9% |
| 3 Bedrooms | $400K | $411K | +2.8% |
| 4 Bedrooms | $480K | $565K | +17.7% |
| 5+ Bedrooms | $615K | $624.9K | +1.6% |
Summary: Leonardtown 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 decreased by 28.9%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 17.7%, and 5+ bedroom homes increased by 1.6%.
Housing Supply in Leonardtown, MD
How many homes are available in Leonardtown, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 70 | 68 | -2.9% |
Summary: The Leonardtown real estate market had 68 homes for sale in May 2024, a 2.9% decrease 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 | 2 | 6 | +200.0% |
| 3 Bedrooms | 18 | 22 | +22.2% |
| 4 Bedrooms | 26 | 19 | -26.9% |
| 5+ Bedrooms | 24 | 21 | -12.5% |
Summary: The Leonardtown 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 increased by 200%, 3 bedroom homes increased by 22.2%, 4 bedroom homes decreased by 26.9%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 10 | -41.2% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Leonardtown, you could pay more than the asking price. 40% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Leonardtown in May 2024, down by 41.2% month-over-month. Of the 10 sold homes, 30% were sold under asking, 30% were sold at asking, and 40% were sold over asking.
Days on Market for Leonardtown, MD
How long does it take to sell a home in Leonardtown, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 22 Days | +46.5% |
Summary: Homes in Leonardtown had an average of 22 days on market in May 2024, up by 46.5% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Leonardtown are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in Leonardtown; 90% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
