Is 21047, 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, 21047 was a Seller's Market.
Key Takeaway
21047 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 21047, MD
How much do homes in 21047, MD cost?
Median Sold Price
$545,000
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 21047 have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in 21047 was $545,000 in March 2024, up 1.9% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $320K | N/A |
| 2 Bedrooms | $279.5K | $387.5K | +38.6% |
| 3 Bedrooms | $457.2K | $475K | +3.9% |
| 4 Bedrooms | $519K | $585K | +12.7% |
| 5+ Bedrooms | $740K | $685K | -7.4% |
Summary: 21047 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 38.6%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes decreased by 7.4%.
Housing Supply in 21047, MD
How many homes are available in 21047, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 61 | 56 | -8.2% |
Summary: The 21047 real estate market had 56 homes for sale in March 2024, a 8.2% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 14 | 14 | 0.0% |
| 4 Bedrooms | 31 | 28 | -9.7% |
| 5+ Bedrooms | 16 | 14 | -12.5% |
Summary: The 21047 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 9.7%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 21047, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in 21047 in March 2024, down by 11.1% month-over-month. Of the 8 sold homes, 50% were sold under asking, 13% were sold at asking, and 38% were sold over asking.
Days on Market for 21047, MD
How long does it take to sell a home in 21047, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 48 Days | 50 Days | +3.6% |
Summary: Homes in 21047 had an average of 50 days on market in Mar 2024, up by 3.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 21047 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in 21047; 50% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
