Is 20723, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 20723 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 20723 has remained a Seller's Market.

Key Takeaway

20723 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 20723, MD

How much do homes in 20723, MD cost?

Median Sold Price

$525,000

$238/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$26,050(+5.2%)

Key Takeaway

Homes in 20723 have sold for 5.2% more than they did a year ago.

Summary: The median home sold price in 20723 was $525,000 in February 2024, up 5.2% from last year, and the median price per square foot was $238.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 -$195K
N/A
2 $294.6K$329.9K
+12.0%
3 $405.5K$450K
+11.0%
4 $607.5K$661.5K
+8.9%
5+ $825K$797.7K
-3.3%

Summary: 20723 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 12%, 3 bedroom homes increased by 11%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes decreased by 3.3%.

Median Sold Price Compared To Nearby Zip Codes

21046
+9.4%
20723
+5.2%
20707
+3.9%
20759
-11.2%

Housing Supply in 20723, MD

How many homes are available in 20723, MD?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
6971+2.9%

Summary: The 20723 real estate market had 71 homes for sale in February 2024, a 2.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 1214
+16.7%
3 2318
-21.7%
4 2224
+9.1%
5+ 1114
+27.3%

Summary: The 20723 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 21.7%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 27.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
15150.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 20723, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.

Summary: A total of 15 homes were sold or pending in 20723 in February 2024, the same as the previous month. Of the 15 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.

Days on Market for 20723, MD

How long does it take to sell a home in 20723, MD?

Average Sale Time

Feb 2023Feb 2024CHANGE
37 Days28 Days-24.0%

Summary: Homes in 20723 had an average of 28 days on market in Feb 2024, down by 24% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 20723 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 15 homes were sold in 20723; 80% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 13% 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 20723, MD

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