Is 21048, 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, 21048 was a Neutral Market.
Key Takeaway
21048 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 21048, MD
How much do homes in 21048, MD cost?
Median Sold Price
$545,450
$214/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 21048 have sold for 24% more than they did a year ago.
Summary: The median home sold price in 21048 was $545,450 in March 2024, up 24% from last year, and the median price per square foot was $214.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $332.4K | $265K | -20.3% |
| 3 Bedrooms | $407.5K | $431K | +5.8% |
| 4 Bedrooms | $500K | $639K | +27.8% |
| 5+ Bedrooms | $665K | $785K | +18.0% |
Summary: 21048 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 decreased by 20.3%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 27.8%, and 5+ bedroom homes increased by 18%.
Housing Supply in 21048, MD
How many homes are available in 21048, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 44 | 43 | -2.3% |
Summary: The 21048 real estate market had 43 homes for sale in March 2024, a 2.3% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 20 | 18 | -10.0% |
| 5+ Bedrooms | 14 | 15 | +7.1% |
Summary: The 21048 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 10%, and 5+ bedroom homes increased by 7.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 21048, expect to pay close to the asking price. 44.4% of homes here sold near the asking price last month.
Summary: A total of 9 homes were sold or pending in 21048 in March 2024, up by 28.6% month-over-month. Of the 9 sold homes, 11% were sold under asking, 44% were sold at asking, and 44% were sold over asking.
Days on Market for 21048, MD
How long does it take to sell a home in 21048, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 5 Days | 29 Days | +488.9% |
Summary: Homes in 21048 had an average of 29 days on market in Mar 2024, up by 488.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 21048 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in 21048; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
