Is 20620, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 20620 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 20620 has remained a Seller's Market.

Key Takeaway

20620 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 20620, MD

How much do homes in 20620, MD cost?

Median Sold Price

$260,000

$218/sqft

Based on all homes sold in February 2024.

Difference Since Last Month

-$184,000(-41.4%)

Key Takeaway

Homes in 20620 have sold for 41.4% less than they did a month ago.

Summary: The median home sold price in 20620 was $260,000 in February 2024, down 41.4% from last month, and the median price per square foot was $218.

Median Sold Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 --
N/A
2 --
N/A
3 $299K$260K
-13.0%
4 --
N/A
5+ $589K-
N/A

Summary: 20620 housing prices by bedroom type for February 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 13%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 20620, MD

How many homes are available in 20620, MD?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
64-33.3%

Summary: The 20620 real estate market had 4 homes for sale in February 2024, a 33.3% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 00
0.0%
3 54
-20.0%
4 00
0.0%
5+ 10
-100.0%

Summary: The 20620 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 20%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
21-50.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 20620, 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 20620 in February 2024, down by 50.0% 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 20620, MD

How long does it take to sell a home in 20620, MD?

Average Sale Time

Jan 2024Feb 2024CHANGE
13 Days12 Days-11.1%

Summary: Homes in 20620 had an average of 12 days on market in Feb 2024, down by 11.1% compared to last month.

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

Breakdown of Home Sale Times

Key Takeaway

Many homes in 20620 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 1 homes were sold in 20620; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in 20620, MD

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