Is 20783, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 20783 has remained a Buyer's Market.
Key Takeaway
20783 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 20783, MD
How much do homes in 20783, MD cost?
Median Sold Price
$380,000
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 20783 have sold for 0.7% more than they did a year ago.
Summary: The median home sold price in 20783 was $380,000 in March 2024, up 0.7% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $117.5K | $110K | -6.4% |
| 2 Bedrooms | $145.7K | $150K | +2.9% |
| 3 Bedrooms | $385K | $399.7K | +3.8% |
| 4 Bedrooms | $460K | $437.5K | -4.9% |
| 5+ Bedrooms | $440.5K | $510K | +15.8% |
Summary: 20783 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.4%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 3.8%, 4 bedroom homes decreased by 4.9%, and 5+ bedroom homes increased by 15.8%.
Housing Supply in 20783, MD
How many homes are available in 20783, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 113 | 112 | -0.9% |
Summary: The 20783 real estate market had 112 homes for sale in March 2024, a 0.9% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 12 | -7.7% |
| 2 Bedrooms | 19 | 18 | -5.3% |
| 3 Bedrooms | 30 | 32 | +6.7% |
| 4 Bedrooms | 24 | 23 | -4.2% |
| 5+ Bedrooms | 27 | 27 | 0.0% |
Summary: The 20783 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 7.7%, 2 bedroom homes decreased by 5.3%, 3 bedroom homes increased by 6.7%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 10 | -41.2% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20783, you could pay more than the asking price. 70% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in 20783 in March 2024, down by 41.2% month-over-month. Of the 10 sold homes, 30% were sold under asking, 0% were sold at asking, and 70% were sold over asking.
Days on Market for 20783, MD
How long does it take to sell a home in 20783, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 37 Days | 15 Days | -58.1% |
Summary: Homes in 20783 had an average of 15 days on market in Mar 2024, down by 58.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 20783 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in 20783; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
