Is 20705, 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, 20705 was a Seller's Market.
Housing Prices in 20705, MD
How much do homes in 20705, MD cost?
Median Sold Price
$430,000
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in 20705 was $430,000 in February 2024, up 1.4% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $125K | $141K | +12.8% |
2 Bedrooms | $163.5K | $177K | +8.3% |
3 Bedrooms | $351.5K | $430K | +22.3% |
4 Bedrooms | $490K | $501.5K | +2.3% |
5+ Bedrooms | $499.9K | $539.5K | +7.9% |
Summary: 20705 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.8%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 22.3%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 7.9%.
Housing Supply in 20705, MD
How many homes are available in 20705, MD?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
69 | 68 | -1.4% |
Summary: The 20705 real estate market had 68 homes for sale in February 2024, a 1.4% decrease compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 5 | -28.6% |
2 Bedrooms | 7 | 8 | +14.3% |
3 Bedrooms | 30 | 26 | -13.3% |
4 Bedrooms | 11 | 16 | +45.5% |
5+ Bedrooms | 14 | 13 | -7.1% |
Summary: The 20705 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 28.6%, 2 bedroom homes increased by 14.3%, 3 bedroom homes decreased by 13.3%, 4 bedroom homes increased by 45.5%, and 5+ bedroom homes decreased by 7.1%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
11 | 11 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in 20705 in February 2024, the same as the previous month. Of the 11 sold homes, 27% were sold under asking, 18% were sold at asking, and 55% were sold over asking.
Days on Market for 20705, MD
How long does it take to sell a home in 20705, MD?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
22 Days | 12 Days | -44.1% |
Summary: Homes in 20705 had an average of 12 days on market in Feb 2024, down by 44.1% compared to last year.
Breakdown of Home Sale Times
10 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, 11 homes were sold in 20705; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.