Is 20723, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, 20723 has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $195K | N/A |
2 Bedrooms | $294.6K | $329.9K | +12.0% |
3 Bedrooms | $405.5K | $450K | +11.0% |
4 Bedrooms | $607.5K | $661.5K | +8.9% |
5+ Bedrooms | $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%.
Housing Supply in 20723, MD
How many homes are available in 20723, MD?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
69 | 71 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 12 | 14 | +16.7% |
3 Bedrooms | 23 | 18 | -21.7% |
4 Bedrooms | 22 | 24 | +9.1% |
5+ Bedrooms | 11 | 14 | +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 2024 | Feb 2024 | CHANGE |
---|---|---|
15 | 15 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
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 2023 | Feb 2024 | CHANGE |
---|---|---|
37 Days | 28 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
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.