Is Riverdale 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, Riverdale Park was a Seller's Market.
Key Takeaway
Riverdale Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Riverdale Park, MD
How much do homes in Riverdale Park, MD cost?
Median Sold Price
$572,500
$289/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Riverdale Park have sold for 23.1% more than they did a year ago.
Summary: The median home sold price in Riverdale Park was $572,500 in May 2024, up 23.1% from last year, and the median price per square foot was $289.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $250K | - | N/A |
| 2 Bedrooms | $309.5K | $557K | +80.0% |
| 3 Bedrooms | $465K | $510K | +9.7% |
| 4 Bedrooms | $490K | $590K | +20.4% |
| 5+ Bedrooms | $525K | $580K | +10.5% |
Summary: Riverdale 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 80%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 20.4%, and 5+ bedroom homes increased by 10.5%.
Median Sold Price Compared To Nearby Cities
| Riverdale Park | $465K | $572.5K | +23.1% |
| College Park | $410K | $451K | +10.0% |
| Greenbelt | $226K | $244.7K | +8.3% |
Housing Supply in Riverdale Park, MD
How many homes are available in Riverdale Park, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 13 | +30.0% |
Summary: The Riverdale Park real estate market had 13 homes for sale in May 2024, a 30.0% 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 | 1 | 3 | +200.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Riverdale 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 200%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 1 | -75.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Riverdale Park, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Riverdale Park in May 2024, down by 75.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Riverdale Park, MD
How long does it take to sell a home in Riverdale Park, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 51 Days | 3 Days | -94.1% |
Summary: Homes in Riverdale Park had an average of 3 days on market in May 2024, down by 94.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Riverdale Park are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 1 homes were sold in Riverdale Park; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
