Is 20902, 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, 20902 has remained a Seller's Market.
Key Takeaway
20902 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20902, MD
How much do homes in 20902, MD cost?
Median Sold Price
$535,000
$293/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 20902 have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in 20902 was $535,000 in March 2024, up 1.9% from last year, and the median price per square foot was $293.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $168K | $184K | +9.5% |
| 2 Bedrooms | $300K | $361.3K | +20.5% |
| 3 Bedrooms | $513K | $530K | +3.3% |
| 4 Bedrooms | $574.5K | $598.2K | +4.1% |
| 5+ Bedrooms | $600K | $649K | +8.2% |
Summary: 20902 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.5%, 2 bedroom homes increased by 20.5%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 8.2%.
Housing Supply in 20902, MD
How many homes are available in 20902, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 102 | 125 | +22.5% |
Summary: The 20902 real estate market had 125 homes for sale in March 2024, a 22.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 10 | +42.9% |
| 2 Bedrooms | 15 | 17 | +13.3% |
| 3 Bedrooms | 40 | 44 | +10.0% |
| 4 Bedrooms | 23 | 31 | +34.8% |
| 5+ Bedrooms | 17 | 23 | +35.3% |
Summary: The 20902 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 42.9%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 34.8%, and 5+ bedroom homes increased by 35.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 21 | +50.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20902, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in 20902 in March 2024, up by 50.0% month-over-month. Of the 21 sold homes, 24% were sold under asking, 19% were sold at asking, and 57% were sold over asking.
Days on Market for 20902, MD
How long does it take to sell a home in 20902, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 28 Days | 18 Days | -35.1% |
Summary: Homes in 20902 had an average of 18 days on market in Mar 2024, down by 35.1% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 20902 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 21 homes were sold in 20902; 86% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
