Is 20705, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 20705 is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 20705 was a Seller's Market.

Key Takeaway

20705 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

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

+$6,000(+1.4%)

Key Takeaway

Homes in 20705 have sold for 1.4% more than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 $125K$141K
+12.8%
2 $163.5K$177K
+8.3%
3 $351.5K$430K
+22.3%
4 $490K$501.5K
+2.3%
5+ $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%.

Median Sold Price Compared To Nearby Zip Codes

20770
+9.7%
20740
+6.0%
20708
+4.6%
20707
+3.9%
20705
+1.4%

Housing Supply in 20705, MD

How many homes are available in 20705, MD?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
6968-1.4%

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

# BEDSJan 2024Feb 2024CHANGE
1 75
-28.6%
2 78
+14.3%
3 3026
-13.3%
4 1116
+45.5%
5+ 1413
-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 2024Feb 2024CHANGE
11110.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 20705, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.

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 2023Feb 2024CHANGE
22 Days12 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in 20705 are selling fast, if you're buying plan to act quickly.

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.

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 20705, MD

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