Is 20714, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 20714 is a neutral's market

Buyer's
Market

Difference Since February 2023

Since last year, 20714 has remained a Neutral Market.

Key Takeaway

20714 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 20714, MD

How much do homes in 20714, MD cost?

Median Sold Price

$412,000

$265/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$25,000(+6.5%)

Key Takeaway

Homes in 20714 have sold for 6.5% more than they did a year ago.

Summary: The median home sold price in 20714 was $412,000 in February 2024, up 6.5% from last year, and the median price per square foot was $265.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 -$240K
N/A
2 $270K$395K
+46.3%
3 $387K$408.5K
+5.6%
4 $500K$463.4K
-7.3%
5+ $882.5K$631K
-28.5%

Summary: 20714 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 46.3%, 3 bedroom homes increased by 5.6%, 4 bedroom homes decreased by 7.3%, and 5+ bedroom homes decreased by 28.5%.

Median Sold Price Compared To Nearby Zip Codes

20732
+31.8%
20714
+6.5%
20736
-0.8%

Housing Supply in 20714, MD

How many homes are available in 20714, MD?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4643-6.5%

Summary: The 20714 real estate market had 43 homes for sale in February 2024, a 6.5% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 10
-100.0%
2 45
+25.0%
3 2625
-3.8%
4 1210
-16.7%
5+ 33
0.0%

Summary: The 20714 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
107-30.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 20714, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in 20714 in February 2024, down by 30.0% month-over-month. Of the 7 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% were sold over asking.

Days on Market for 20714, MD

How long does it take to sell a home in 20714, MD?

Average Sale Time

Feb 2023Feb 2024CHANGE
112 Days40 Days-64.0%

Summary: Homes in 20714 had an average of 40 days on market in Feb 2024, down by 64% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 20714 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 7 homes were sold in 20714; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% 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 27 Days Ago

Newest Listings in 20714, MD

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