Is 20716, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 20716 has remained a Seller's Market.
Key Takeaway
20716 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20716, MD
How much do homes in 20716, MD cost?
Median Sold Price
$430,000
$253/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 20716 have sold for 3% more than they did a year ago.
Summary: The median home sold price in 20716 was $430,000 in April 2024, up 3% from last year, and the median price per square foot was $253.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185.5K | $215K | +15.9% |
| 2 Bedrooms | $280K | $315K | +12.5% |
| 3 Bedrooms | $397.5K | $429.5K | +8.1% |
| 4 Bedrooms | $477.5K | $490K | +2.6% |
| 5+ Bedrooms | $615K | $572.5K | -6.9% |
Summary: 20716 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.9%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes decreased by 6.9%.
Housing Supply in 20716, MD
How many homes are available in 20716, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 66 | 66 | 0.0% |
Summary: The 20716 real estate market had 66 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 14 | 11 | -21.4% |
| 3 Bedrooms | 31 | 31 | 0.0% |
| 4 Bedrooms | 18 | 16 | -11.1% |
| 5+ Bedrooms | 3 | 8 | +166.7% |
Summary: The 20716 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 21.4%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 166.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 26 | 13 | -50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20716, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in 20716 in April 2024, down by 50.0% month-over-month. Of the 13 sold homes, 23% were sold under asking, 31% were sold at asking, and 46% were sold over asking.
Days on Market for 20716, MD
How long does it take to sell a home in 20716, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 14 Days | 17 Days | +20.3% |
Summary: Homes in 20716 had an average of 17 days on market in Apr 2024, up by 20.3% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 20716 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 13 homes were sold in 20716; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
