Is 20877, 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, 20877 was a Seller's Market.
Key Takeaway
20877 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 20877, MD
How much do homes in 20877, MD cost?
Median Sold Price
$485,000
$241/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 20877 have sold for 14.1% more than they did a year ago.
Summary: The median home sold price in 20877 was $485,000 in March 2024, up 14.1% from last year, and the median price per square foot was $241.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $137.5K | $140K | +1.8% |
| 2 Bedrooms | $162K | $209K | +29.0% |
| 3 Bedrooms | $415K | $450K | +8.4% |
| 4 Bedrooms | $525K | $579.9K | +10.5% |
| 5+ Bedrooms | $617.8K | $638K | +3.3% |
Summary: 20877 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.8%, 2 bedroom homes increased by 29%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 3.3%.
Housing Supply in 20877, MD
How many homes are available in 20877, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 69 | 69 | 0.0% |
Summary: The 20877 real estate market had 69 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 32 | 26 | -18.8% |
| 4 Bedrooms | 21 | 22 | +4.8% |
| 5+ Bedrooms | 10 | 12 | +20.0% |
Summary: The 20877 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 66.7%, 3 bedroom homes decreased by 18.8%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 8 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20877, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in 20877 in March 2024, down by 50.0% month-over-month. Of the 8 sold homes, 13% were sold under asking, 25% were sold at asking, and 63% were sold over asking.
Days on Market for 20877, MD
How long does it take to sell a home in 20877, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 8 Days | 20 Days | +151.0% |
Summary: Homes in 20877 had an average of 20 days on market in Mar 2024, up by 151% compared to last year.
Breakdown of Home Sale Times
6 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 20877 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in 20877; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
