Is 20601, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 20601 was a Seller's Market.
Key Takeaway
20601 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 20601, MD
How much do homes in 20601, MD cost?
Median Sold Price
$425,625
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 20601 have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in 20601 was $425,625 in March 2024, up 6.4% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $271K | $277.5K | +2.4% |
| 3 Bedrooms | $373.7K | $385K | +3.0% |
| 4 Bedrooms | $420K | $460K | +9.5% |
| 5+ Bedrooms | $550K | $550K | 0.0% |
Summary: 20601 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes did not change.
Housing Supply in 20601, MD
How many homes are available in 20601, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 144 | 140 | -2.8% |
Summary: The 20601 real estate market had 140 homes for sale in March 2024, a 2.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 40 | 47 | +17.5% |
| 4 Bedrooms | 67 | 59 | -11.9% |
| 5+ Bedrooms | 35 | 33 | -5.7% |
Summary: The 20601 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 17.5%, 4 bedroom homes decreased by 11.9%, and 5+ bedroom homes decreased by 5.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 20 | -9.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20601, expect to pay close to the asking price. 45% of homes here sold near the asking price last month.
Summary: A total of 20 homes were sold or pending in 20601 in March 2024, down by 9.1% month-over-month. Of the 20 sold homes, 30% were sold under asking, 45% were sold at asking, and 25% were sold over asking.
Days on Market for 20601, MD
How long does it take to sell a home in 20601, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 37 Days | 43 Days | +16.2% |
Summary: Homes in 20601 had an average of 43 days on market in Mar 2024, up by 16.2% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 20601 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 20 homes were sold in 20601; 55% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
