Is 20816, 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, 20816 has remained a Seller's Market.
Key Takeaway
20816 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20816, MD
How much do homes in 20816, MD cost?
Median Sold Price
$1,271,400
$456/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 20816 have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in 20816 was $1,271,400 in April 2024, up 1.3% from last year, and the median price per square foot was $456.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $247.5K | $252.5K | +2.0% |
| 2 Bedrooms | $655K | $580K | -11.5% |
| 3 Bedrooms | $1.1M | $1.1M | -1.1% |
| 4 Bedrooms | $1.3M | $1.4M | +4.4% |
| 5+ Bedrooms | $1.8M | $1.8M | +0.7% |
Summary: 20816 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes decreased by 11.5%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 0.7%.
Housing Supply in 20816, MD
How many homes are available in 20816, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 68 | 64 | -5.9% |
Summary: The 20816 real estate market had 64 homes for sale in April 2024, a 5.9% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 8 | 5 | -37.5% |
| 3 Bedrooms | 14 | 16 | +14.3% |
| 4 Bedrooms | 18 | 17 | -5.6% |
| 5+ Bedrooms | 23 | 22 | -4.3% |
Summary: The 20816 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 37.5%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes decreased by 4.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 23 | +4.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20816, you could pay more than the asking price. 69.6% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in 20816 in April 2024, up by 4.5% month-over-month. Of the 23 sold homes, 9% were sold under asking, 22% were sold at asking, and 70% were sold over asking.
Days on Market for 20816, MD
How long does it take to sell a home in 20816, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 6 Days | 15 Days | +119.0% |
Summary: Homes in 20816 had an average of 15 days on market in Apr 2024, up by 119% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 20816 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 23 homes were sold in 20816; 87% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
