Is 20622, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 20622 was a Seller's Market.
Key Takeaway
20622 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 20622, MD
How much do homes in 20622, MD cost?
Median Sold Price
$525,000
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 20622 have sold for 22.7% more than they did a year ago.
Summary: The median home sold price in 20622 was $525,000 in April 2024, up 22.7% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $275K | N/A |
| 3 Bedrooms | $323.9K | $402.5K | +24.3% |
| 4 Bedrooms | $527K | $587.4K | +11.5% |
| 5+ Bedrooms | $430.5K | $701.5K | +63.0% |
Summary: 20622 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 24.3%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 63%.
Housing Supply in 20622, MD
How many homes are available in 20622, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 18 | +12.5% |
Summary: The 20622 real estate market had 18 homes for sale in April 2024, a 12.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 4 | 6 | +50.0% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The 20622 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 20622, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in 20622 in April 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for 20622, MD
How long does it take to sell a home in 20622, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 88 Days | 253 Days | +185.9% |
Summary: Homes in 20622 had an average of 253 days on market in Apr 2024, up by 185.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 20622 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in 20622; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
