Is Lexington Park, 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, Lexington Park was a Seller's Market.
Key Takeaway
Lexington Park 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 Lexington Park, MD
How much do homes in Lexington Park, MD cost?
Median Sold Price
$350,000
$170/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since May 2023.
Key Takeaway
The sold price of homes in Lexington Park has remained the same since last year.
Summary: The median home sold price in Lexington Park was $350,000 in May 2024, the same as last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $120K | $195K | +62.5% |
| 3 Bedrooms | $305K | $308.5K | +1.1% |
| 4 Bedrooms | $400K | $416K | +4.0% |
| 5+ Bedrooms | $473K | $469.9K | -0.7% |
Summary: Lexington Park 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 62.5%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 4%, and 5+ bedroom homes decreased by 0.7%.
Median Sold Price Compared To Nearby Cities
| Lexington Park | $350K | $350K | 0.0% |
| Great Mills | $313.5K | $302.5K | -3.5% |
Housing Supply in Lexington Park, MD
How many homes are available in Lexington Park, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 66 | 89 | +34.8% |
Summary: The Lexington Park real estate market had 89 homes for sale in May 2024, a 34.8% 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 | 4 | 8 | +100.0% |
| 3 Bedrooms | 28 | 37 | +32.1% |
| 4 Bedrooms | 22 | 31 | +40.9% |
| 5+ Bedrooms | 12 | 13 | +8.3% |
Summary: The Lexington Park 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 100%, 3 bedroom homes increased by 32.1%, 4 bedroom homes increased by 40.9%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 13 | -27.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lexington Park, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Lexington Park in May 2024, down by 27.8% month-over-month. Of the 13 sold homes, 15% were sold under asking, 38% were sold at asking, and 46% were sold over asking.
Days on Market for Lexington Park, MD
How long does it take to sell a home in Lexington Park, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 12 Days | 20 Days | +62.2% |
Summary: Homes in Lexington Park had an average of 20 days on market in May 2024, up by 62.2% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lexington Park are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Lexington Park; 85% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
