Is 20886, 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, 20886 has remained a Seller's Market.
Key Takeaway
20886 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20886, MD
How much do homes in 20886, MD cost?
Median Sold Price
$375,000
$234/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 20886 have sold for 9% more than they did a year ago.
Summary: The median home sold price in 20886 was $375,000 in March 2024, up 9% from last year, and the median price per square foot was $234.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $147.5K | $170K | +15.3% |
| 2 Bedrooms | $214K | $240K | +12.1% |
| 3 Bedrooms | $357K | $375K | +5.0% |
| 4 Bedrooms | $462.4K | $515K | +11.4% |
| 5+ Bedrooms | $672.5K | $642.5K | -4.5% |
Summary: 20886 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.3%, 2 bedroom homes increased by 12.1%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes decreased by 4.5%.
Housing Supply in 20886, MD
How many homes are available in 20886, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 91 | 121 | +33.0% |
Summary: The 20886 real estate market had 121 homes for sale in March 2024, a 33.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 11 | +22.2% |
| 2 Bedrooms | 19 | 24 | +26.3% |
| 3 Bedrooms | 36 | 45 | +25.0% |
| 4 Bedrooms | 20 | 30 | +50.0% |
| 5+ Bedrooms | 7 | 11 | +57.1% |
Summary: The 20886 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 22.2%, 2 bedroom homes increased by 26.3%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 57.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 10 | 25 | +150.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20886, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in 20886 in March 2024, up by 150.0% month-over-month. Of the 25 sold homes, 8% were sold under asking, 32% were sold at asking, and 60% were sold over asking.
Days on Market for 20886, MD
How long does it take to sell a home in 20886, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 24 Days | 11 Days | -51.6% |
Summary: Homes in 20886 had an average of 11 days on market in Mar 2024, down by 51.6% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 20886 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 25 homes were sold in 20886; 88% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
