Is 20685, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 20685 has remained a Buyer's Market.
Key Takeaway
20685 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 20685, MD
How much do homes in 20685, MD cost?
Median Sold Price
$422,500
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 20685 have sold for 9.5% less than they did a year ago.
Summary: The median home sold price in 20685 was $422,500 in March 2024, down 9.5% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $323K | $297K | -8.0% |
| 3 Bedrooms | $415.3K | $331K | -20.3% |
| 4 Bedrooms | $515K | $500K | -2.9% |
| 5+ Bedrooms | $615K | $510.7K | -17.0% |
Summary: 20685 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 decreased by 8%, 3 bedroom homes decreased by 20.3%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes decreased by 17%.
Housing Supply in 20685, MD
How many homes are available in 20685, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 42 | 42 | 0.0% |
Summary: The 20685 real estate market had 42 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 9 | 6 | -33.3% |
| 4 Bedrooms | 19 | 22 | +15.8% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The 20685 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 33.3%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20685, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in 20685 in March 2024, down by 16.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for 20685, MD
How long does it take to sell a home in 20685, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 16 Days | 38 Days | +137.5% |
Summary: Homes in 20685 had an average of 38 days on market in Mar 2024, up by 137.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 20685 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in 20685; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
