Is 20721, 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, 20721 was a Buyer's Market.
Key Takeaway
20721 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20721, MD
How much do homes in 20721, MD cost?
Median Sold Price
$559,833
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in 20721 has remained the same since last year.
Summary: The median home sold price in 20721 was $559,833 in March 2024, down 0.5% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $164.9K | N/A |
| 2 Bedrooms | $270.5K | $276K | +2.0% |
| 3 Bedrooms | $412.5K | $425K | +3.0% |
| 4 Bedrooms | $575K | $579K | +0.7% |
| 5+ Bedrooms | $755K | $680K | -9.9% |
Summary: 20721 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 2%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes decreased by 9.9%.
Housing Supply in 20721, MD
How many homes are available in 20721, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 121 | 123 | +1.7% |
Summary: The 20721 real estate market had 123 homes for sale in March 2024, a 1.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 9 | 10 | +11.1% |
| 3 Bedrooms | 29 | 29 | 0.0% |
| 4 Bedrooms | 42 | 43 | +2.4% |
| 5+ Bedrooms | 38 | 38 | 0.0% |
Summary: The 20721 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 11.1%, 3 bedroom homes remained the same, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 22 | +29.4% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20721, expect to pay close to the asking price. 45.5% of homes here sold near the asking price last month.
Summary: A total of 22 homes were sold or pending in 20721 in March 2024, up by 29.4% month-over-month. Of the 22 sold homes, 14% were sold under asking, 45% were sold at asking, and 41% were sold over asking.
Days on Market for 20721, MD
How long does it take to sell a home in 20721, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 24 Days | 20 Days | -15.0% |
Summary: Homes in 20721 had an average of 20 days on market in Mar 2024, down by 15% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 20721 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 22 homes were sold in 20721; 82% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
