Is 20748, 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, 20748 was a Seller's Market.
Key Takeaway
20748 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 20748, MD
How much do homes in 20748, MD cost?
Median Sold Price
$350,000
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 20748 have sold for 3.1% more than they did a year ago.
Summary: The median home sold price in 20748 was $350,000 in March 2024, up 3.1% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $105K | $90K | -14.3% |
| 2 Bedrooms | $145K | $157.5K | +8.6% |
| 3 Bedrooms | $314K | $325.2K | +3.6% |
| 4 Bedrooms | $385K | $397.5K | +3.2% |
| 5+ Bedrooms | $431.5K | $447K | +3.6% |
Summary: 20748 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 3.6%.
Housing Supply in 20748, MD
How many homes are available in 20748, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 199 | 190 | -4.5% |
Summary: The 20748 real estate market had 190 homes for sale in March 2024, a 4.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 7 | -12.5% |
| 2 Bedrooms | 46 | 39 | -15.2% |
| 3 Bedrooms | 56 | 56 | 0.0% |
| 4 Bedrooms | 54 | 54 | 0.0% |
| 5+ Bedrooms | 35 | 34 | -2.9% |
Summary: The 20748 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes decreased by 15.2%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 2.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 30 | 26 | -13.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20748, you could pay more than the asking price. 42.3% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in 20748 in March 2024, down by 13.3% month-over-month. Of the 26 sold homes, 19% were sold under asking, 38% were sold at asking, and 42% were sold over asking.
Days on Market for 20748, MD
How long does it take to sell a home in 20748, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 35 Days | 35 Days | -0.3% |
Summary: Homes in 20748 had an average of 35 days on market in Mar 2024, down by 0.3% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 20748 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 26 homes were sold in 20748; 62% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
