Is 20774, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 20774 has remained a Seller's Market.
Key Takeaway
20774 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20774, MD
How much do homes in 20774, MD cost?
Median Sold Price
$459,587
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 20774 have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in 20774 was $459,587 in April 2024, up 4.5% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $124K | $135K | +8.9% |
| 2 Bedrooms | $275K | $289.9K | +5.4% |
| 3 Bedrooms | $410K | $465K | +13.4% |
| 4 Bedrooms | $505K | $525K | +4.0% |
| 5+ Bedrooms | $635K | $700K | +10.2% |
Summary: 20774 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.9%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 13.4%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 10.2%.
Housing Supply in 20774, MD
How many homes are available in 20774, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 165 | 163 | -1.2% |
Summary: The 20774 real estate market had 163 homes for sale in April 2024, a 1.2% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 9 | +12.5% |
| 2 Bedrooms | 31 | 31 | 0.0% |
| 3 Bedrooms | 61 | 48 | -21.3% |
| 4 Bedrooms | 50 | 50 | 0.0% |
| 5+ Bedrooms | 15 | 25 | +66.7% |
Summary: The 20774 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 21.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 54 | 36 | -33.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20774, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 36 homes were sold or pending in 20774 in April 2024, down by 33.3% month-over-month. Of the 36 sold homes, 28% were sold under asking, 17% were sold at asking, and 56% were sold over asking.
Days on Market for 20774, MD
How long does it take to sell a home in 20774, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 28 Days | 19 Days | -31.2% |
Summary: Homes in 20774 had an average of 19 days on market in Apr 2024, down by 31.2% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 20774 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 36 homes were sold in 20774; 78% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
