Is 20906, 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, 20906 has remained a Seller's Market.
Key Takeaway
20906 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20906, MD
How much do homes in 20906, MD cost?
Median Sold Price
$346,288
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 20906 have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in 20906 was $346,288 in March 2024, up 1.8% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $140K | -6.7% |
| 2 Bedrooms | $225K | $234.4K | +4.2% |
| 3 Bedrooms | $416.6K | $425K | +2.0% |
| 4 Bedrooms | $585K | $581.5K | -0.6% |
| 5+ Bedrooms | $650K | $637.5K | -1.9% |
Summary: 20906 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.7%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 2%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes decreased by 1.9%.
Housing Supply in 20906, MD
How many homes are available in 20906, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 270 | 281 | +4.1% |
Summary: The 20906 real estate market had 281 homes for sale in March 2024, a 4.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 36 | 30 | -16.7% |
| 2 Bedrooms | 114 | 106 | -7.0% |
| 3 Bedrooms | 55 | 65 | +18.2% |
| 4 Bedrooms | 34 | 45 | +32.4% |
| 5+ Bedrooms | 31 | 35 | +12.9% |
Summary: The 20906 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes decreased by 7%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 32.4%, and 5+ bedroom homes increased by 12.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 53 | 65 | +22.6% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20906, you could pay more than the asking price. 35.4% of homes here sold above asking price last month.
Summary: A total of 65 homes were sold or pending in 20906 in March 2024, up by 22.6% month-over-month. Of the 65 sold homes, 34% were sold under asking, 31% were sold at asking, and 35% were sold over asking.
Days on Market for 20906, MD
How long does it take to sell a home in 20906, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 38 Days | 20 Days | -46.9% |
Summary: Homes in 20906 had an average of 20 days on market in Mar 2024, down by 46.9% compared to last year.
Breakdown of Home Sale Times
47 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 20906 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 65 homes were sold in 20906; 72% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
