Is 20850, 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, 20850 has remained a Seller's Market.
Key Takeaway
20850 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20850, MD
How much do homes in 20850, MD cost?
Median Sold Price
$659,666
$326/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 20850 have sold for 2.1% less than they did a year ago.
Summary: The median home sold price in 20850 was $659,666 in March 2024, down 2.1% from last year, and the median price per square foot was $326.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $243.5K | $194.9K | -19.9% |
| 2 Bedrooms | $366.5K | $415K | +13.2% |
| 3 Bedrooms | $625K | $646K | +3.4% |
| 4 Bedrooms | $767K | $825K | +7.6% |
| 5+ Bedrooms | $1.0M | $940.5K | -10.4% |
Summary: 20850 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.9%, 2 bedroom homes increased by 13.2%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes decreased by 10.4%.
Housing Supply in 20850, MD
How many homes are available in 20850, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 157 | 171 | +8.9% |
Summary: The 20850 real estate market had 171 homes for sale in March 2024, a 8.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 18 | +38.5% |
| 2 Bedrooms | 28 | 24 | -14.3% |
| 3 Bedrooms | 51 | 54 | +5.9% |
| 4 Bedrooms | 40 | 48 | +20.0% |
| 5+ Bedrooms | 25 | 27 | +8.0% |
Summary: The 20850 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 38.5%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 26 | 29 | +11.5% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20850, you could pay more than the asking price. 62.1% of homes here sold above asking price last month.
Summary: A total of 29 homes were sold or pending in 20850 in March 2024, up by 11.5% month-over-month. Of the 29 sold homes, 24% were sold under asking, 14% were sold at asking, and 62% were sold over asking.
Days on Market for 20850, MD
How long does it take to sell a home in 20850, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 13 Days | 20 Days | +52.5% |
Summary: Homes in 20850 had an average of 20 days on market in Mar 2024, up by 52.5% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 20850 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 29 homes were sold in 20850; 90% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
