Is 21701, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 21701 has remained a Seller's Market.
Key Takeaway
21701 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 21701, MD
How much do homes in 21701, MD cost?
Median Sold Price
$461,696
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 21701 have sold for 11.5% more than they did a year ago.
Summary: The median home sold price in 21701 was $461,696 in April 2024, up 11.5% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $183.5K | $220K | +19.9% |
| 2 Bedrooms | $297.9K | $320K | +7.4% |
| 3 Bedrooms | $399.9K | $441.9K | +10.5% |
| 4 Bedrooms | $489.5K | $520.9K | +6.4% |
| 5+ Bedrooms | $710K | $709.9K | 0% |
Summary: 21701 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.9%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Zip Codes
| 21798 | $353K | $550K | +55.8% |
| 21774 | $514K | $575K | +11.9% |
| 21701 | $413.9K | $461.6K | +11.5% |
| 21793 | $430K | $400.5K | -6.9% |
Housing Supply in 21701, MD
How many homes are available in 21701, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 155 | 165 | +6.5% |
Summary: The 21701 real estate market had 165 homes for sale in April 2024, a 6.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 23 | 31 | +34.8% |
| 3 Bedrooms | 75 | 75 | 0.0% |
| 4 Bedrooms | 33 | 30 | -9.1% |
| 5+ Bedrooms | 22 | 27 | +22.7% |
Summary: The 21701 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 34.8%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 22.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 53 | 48 | -9.4% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 21701, you could pay more than the asking price. 45.8% of homes here sold above asking price last month.
Summary: A total of 48 homes were sold or pending in 21701 in April 2024, down by 9.4% month-over-month. Of the 48 sold homes, 21% were sold under asking, 33% were sold at asking, and 46% were sold over asking.
Days on Market for 21701, MD
How long does it take to sell a home in 21701, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 19 Days | 26 Days | +36.6% |
Summary: Homes in 21701 had an average of 26 days on market in Apr 2024, up by 36.6% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 21701 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 48 homes were sold in 21701; 88% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
