Is 20706, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 20706 was a Seller's Market.
Key Takeaway
20706 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 20706, MD
How much do homes in 20706, MD cost?
Median Sold Price
$435,500
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 20706 have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in 20706 was $435,500 in March 2024, up 6.8% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $134.9K | N/A |
| 2 Bedrooms | $260K | $270K | +3.8% |
| 3 Bedrooms | $365K | $418K | +14.5% |
| 4 Bedrooms | $430K | $467.5K | +8.7% |
| 5+ Bedrooms | $499.9K | $500K | 0.0% |
Summary: 20706 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 increased by 3.8%, 3 bedroom homes increased by 14.5%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes did not change.
Housing Supply in 20706, MD
How many homes are available in 20706, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 151 | 161 | +6.6% |
Summary: The 20706 real estate market had 161 homes for sale in March 2024, a 6.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 18 | 19 | +5.6% |
| 3 Bedrooms | 61 | 66 | +8.2% |
| 4 Bedrooms | 41 | 43 | +4.9% |
| 5+ Bedrooms | 29 | 31 | +6.9% |
Summary: The 20706 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 increased by 5.6%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 6.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 25 | +56.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20706, you could pay more than the asking price. 52% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in 20706 in March 2024, up by 56.3% month-over-month. Of the 25 sold homes, 16% were sold under asking, 32% were sold at asking, and 52% were sold over asking.
Days on Market for 20706, MD
How long does it take to sell a home in 20706, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 25 Days | 32 Days | +26.8% |
Summary: Homes in 20706 had an average of 32 days on market in Mar 2024, up by 26.8% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 20706 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 25 homes were sold in 20706; 72% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
