Is 21561, 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, 21561 has remained a Buyer's Market.
Key Takeaway
21561 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 21561, MD
How much do homes in 21561, MD cost?
Median Sold Price
$715,300
$320/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 21561 have sold for 25.2% more than they did a year ago.
Summary: The median home sold price in 21561 was $715,300 in March 2024, up 25.2% from last year, and the median price per square foot was $320.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $350K | - | N/A |
| 2 Bedrooms | $95K | $320K | +236.8% |
| 3 Bedrooms | $506.2K | $423.7K | -16.3% |
| 4 Bedrooms | $815K | $637K | -21.8% |
| 5+ Bedrooms | $814.5K | $1.9M | +139.4% |
Summary: 21561 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 236.8%, 3 bedroom homes decreased by 16.3%, 4 bedroom homes decreased by 21.8%, and 5+ bedroom homes increased by 139.4%.
Median Sold Price Compared To Nearby Zip Codes
| 21561 | $571.2K | $715.3K | +25.2% |
| 21562 | $77K | $83K | +7.8% |
Housing Supply in 21561, MD
How many homes are available in 21561, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 43 | 49 | +14.0% |
Summary: The 21561 real estate market had 49 homes for sale in March 2024, a 14.0% increase 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 | 4 | 8 | +100.0% |
| 3 Bedrooms | 13 | 10 | -23.1% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 17 | 19 | +11.8% |
Summary: The 21561 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 increased by 100%, 3 bedroom homes decreased by 23.1%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 11.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 21561, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in 21561 in March 2024, up by 50.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.
Days on Market for 21561, MD
How long does it take to sell a home in 21561, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 116 Days | 17 Days | -85.0% |
Summary: Homes in 21561 had an average of 17 days on market in Mar 2024, down by 85% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 21561 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in 21561; 83% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
