Is 20616, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, 20616 was a Seller's Market.
Housing Prices in 20616, MD
How much do homes in 20616, MD cost?
Median Sold Price
$422,450
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in 20616 was $422,450 in February 2024, up 6.9% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $595K | - | N/A |
2 Bedrooms | $252.5K | $275.5K | +9.1% |
3 Bedrooms | $368K | $404K | +9.8% |
4 Bedrooms | $400K | $559.5K | +39.9% |
5+ Bedrooms | $608.9K | $560K | -8.0% |
Summary: 20616 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 39.9%, and 5+ bedroom homes decreased by 8%.
Housing Supply in 20616, MD
How many homes are available in 20616, MD?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
78 | 75 | -3.8% |
Summary: The 20616 real estate market had 75 homes for sale in February 2024, a 3.8% decrease compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 3 | 3 | 0.0% |
3 Bedrooms | 26 | 23 | -11.5% |
4 Bedrooms | 34 | 33 | -2.9% |
5+ Bedrooms | 13 | 14 | +7.7% |
Summary: The 20616 housing inventory by bedroom type for February 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 11.5%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
6 | 7 | +16.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in 20616 in February 2024, up by 16.7% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.
Days on Market for 20616, MD
How long does it take to sell a home in 20616, MD?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
14 Days | 14 Days | -4.9% |
Summary: Homes in 20616 had an average of 14 days on market in Feb 2024, down by 4.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During February 2024, 7 homes were sold in 20616; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.