Is 20740, 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, 20740 was a Buyer's Market.
Housing Prices in 20740, MD
How much do homes in 20740, MD cost?
Median Sold Price
$449,950
$261/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 20740 was $449,950 in March 2024, up 7.9% from last year, and the median price per square foot was $261.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $132.5K | $144.9K | +9.4% |
2 Bedrooms | $192.5K | $184K | -4.4% |
3 Bedrooms | $402K | $438K | +9.0% |
4 Bedrooms | $437K | $468.5K | +7.2% |
5+ Bedrooms | $486.4K | $490K | +0.7% |
Summary: 20740 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.4%, 2 bedroom homes decreased by 4.4%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 0.7%.
Housing Supply in 20740, MD
How many homes are available in 20740, MD?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
94 | 102 | +8.5% |
Summary: The 20740 real estate market had 102 homes for sale in March 2024, a 8.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 9 | +12.5% |
2 Bedrooms | 14 | 18 | +28.6% |
3 Bedrooms | 25 | 30 | +20.0% |
4 Bedrooms | 23 | 23 | 0.0% |
5+ Bedrooms | 24 | 22 | -8.3% |
Summary: The 20740 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 8.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
10 | 15 | +50.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in 20740 in March 2024, up by 50.0% month-over-month. Of the 15 sold homes, 33% were sold under asking, 7% were sold at asking, and 60% were sold over asking.
Days on Market for 20740, MD
How long does it take to sell a home in 20740, MD?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
29 Days | 20 Days | -30.7% |
Summary: Homes in 20740 had an average of 20 days on market in Mar 2024, down by 30.7% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 15 homes were sold in 20740; 80% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.