Is 20866, 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, 20866 was a Buyer's Market.
Key Takeaway
20866 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20866, MD
How much do homes in 20866, MD cost?
Median Sold Price
$420,000
$261/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 20866 have sold for 1.8% less than they did a year ago.
Summary: The median home sold price in 20866 was $420,000 in March 2024, down 1.8% from last year, and the median price per square foot was $261.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $345K | $349.5K | +1.3% |
| 3 Bedrooms | $405.5K | $402.5K | -0.7% |
| 4 Bedrooms | $532.5K | $592.5K | +11.3% |
| 5+ Bedrooms | $750K | $800K | +6.7% |
Summary: 20866 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.3%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 6.7%.
Housing Supply in 20866, MD
How many homes are available in 20866, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 37 | 35 | -5.4% |
Summary: The 20866 real estate market had 35 homes for sale in March 2024, a 5.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 5 | 3 | -40.0% |
| 3 Bedrooms | 17 | 20 | +17.6% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 10 | 7 | -30.0% |
Summary: The 20866 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 40%, 3 bedroom homes increased by 17.6%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 30%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 8 | +60.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20866, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in 20866 in March 2024, up by 60.0% month-over-month. Of the 8 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for 20866, MD
How long does it take to sell a home in 20866, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 12 Days | 37 Days | +209.4% |
Summary: Homes in 20866 had an average of 37 days on market in Mar 2024, up by 209.4% compared to last year.
Breakdown of Home Sale Times
5 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 20866 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in 20866; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
