Is 21550, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 21550 is a buyer's market

Buyer's
Market

Difference Since February 2023

Since last year, 21550 has remained a Buyer's Market.

Key Takeaway

21550 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 21550, MD

How much do homes in 21550, MD cost?

Median Sold Price

$355,900

$192/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$36,597(+11.5%)

Key Takeaway

Homes in 21550 have sold for 11.5% more than they did a year ago.

Summary: The median home sold price in 21550 was $355,900 in February 2024, up 11.5% from last year, and the median price per square foot was $192.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $193.7K$280K
+44.5%
2 $240K$207.5K
-13.5%
3 $292.5K$276K
-5.6%
4 $635K$575K
-9.4%
5+ $725K$610K
-15.9%

Summary: 21550 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 44.5%, 2 bedroom homes decreased by 13.5%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes decreased by 9.4%, and 5+ bedroom homes decreased by 15.9%.

Housing Supply in 21550, MD

How many homes are available in 21550, MD?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
132134+1.5%

Summary: The 21550 real estate market had 134 homes for sale in February 2024, a 1.5% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 56
+20.0%
2 1214
+16.7%
3 5652
-7.1%
4 2726
-3.7%
5+ 3236
+12.5%

Summary: The 21550 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
147-50.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 21550, expect to pay close to the asking price. 42.9% of homes here sold near the asking price last month.

Summary: A total of 7 homes were sold or pending in 21550 in February 2024, down by 50.0% month-over-month. Of the 7 sold homes, 29% were sold under asking, 43% were sold at asking, and 29% were sold over asking.

Days on Market for 21550, MD

How long does it take to sell a home in 21550, MD?

Average Sale Time

Feb 2023Feb 2024CHANGE
68 Days66 Days-3.4%

Summary: Homes in 21550 had an average of 66 days on market in Feb 2024, down by 3.4% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 21550 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 7 homes were sold in 21550; 43% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

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