Is 20603, 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, 20603 was a Seller's Market.
Key Takeaway
20603 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 20603, MD
How much do homes in 20603, MD cost?
Median Sold Price
$459,633
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 20603 have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in 20603 was $459,633 in March 2024, up 4.5% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $272.5K | $417.4K | +53.2% |
| 3 Bedrooms | $354K | $364K | +2.8% |
| 4 Bedrooms | $510K | $499.9K | -2.0% |
| 5+ Bedrooms | $580.3K | $586.5K | +1.1% |
Summary: 20603 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 53.2%, 3 bedroom homes increased by 2.8%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 1.1%.
Housing Supply in 20603, MD
How many homes are available in 20603, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 193 | 197 | +2.1% |
Summary: The 20603 real estate market had 197 homes for sale in March 2024, a 2.1% increase 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 | 4 | 4 | 0.0% |
| 3 Bedrooms | 76 | 81 | +6.6% |
| 4 Bedrooms | 72 | 73 | +1.4% |
| 5+ Bedrooms | 41 | 39 | -4.9% |
Summary: The 20603 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 remained the same, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes decreased by 4.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 26 | 20 | -23.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20603, expect to pay close to the asking price. 55% of homes here sold near the asking price last month.
Summary: A total of 20 homes were sold or pending in 20603 in March 2024, down by 23.1% month-over-month. Of the 20 sold homes, 15% were sold under asking, 55% were sold at asking, and 30% were sold over asking.
Days on Market for 20603, MD
How long does it take to sell a home in 20603, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 34 Days | 29 Days | -13.9% |
Summary: Homes in 20603 had an average of 29 days on market in Mar 2024, down by 13.9% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 20603 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 20 homes were sold in 20603; 70% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
