Is 20607, 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, 20607 was a Seller's Market.
Housing Prices in 20607, MD
How much do homes in 20607, MD cost?
Median Sold Price
$505,488
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 20607 was $505,488 in March 2024, up 3.2% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $875K | N/A |
2 Bedrooms | $245K | $284.9K | +16.3% |
3 Bedrooms | $397.4K | $450.2K | +13.3% |
4 Bedrooms | $550K | $520K | -5.5% |
5+ Bedrooms | $604.5K | $637K | +5.4% |
Summary: 20607 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 16.3%, 3 bedroom homes increased by 13.3%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes increased by 5.4%.
Housing Supply in 20607, MD
How many homes are available in 20607, MD?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
95 | 94 | -1.1% |
Summary: The 20607 real estate market had 94 homes for sale in March 2024, a 1.1% 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 | 2 | 0.0% |
3 Bedrooms | 24 | 23 | -4.2% |
4 Bedrooms | 49 | 54 | +10.2% |
5+ Bedrooms | 20 | 15 | -25.0% |
Summary: The 20607 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 decreased by 4.2%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 9 | -40.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in 20607 in March 2024, down by 40.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 33% were sold at asking, and 22% were sold over asking.
Days on Market for 20607, MD
How long does it take to sell a home in 20607, MD?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
46 Days | 51 Days | +11.4% |
Summary: Homes in 20607 had an average of 51 days on market in Mar 2024, up by 11.4% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 9 homes were sold in 20607; 56% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.