Is 21704, MD a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 21704 is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 21704 was a Seller's Market.

Key Takeaway

21704 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 21704, MD

How much do homes in 21704, MD cost?

Median Sold Price

$610,000

$222/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$57,500(+10.4%)

Key Takeaway

Homes in 21704 have sold for 10.4% more than they did a year ago.

Summary: The median home sold price in 21704 was $610,000 in February 2024, up 10.4% from last year, and the median price per square foot was $222.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $400.1K$385K
-3.8%
3 $520K$493.9K
-5.0%
4 $629.9K$650K
+3.2%
5+ $895K$862.5K
-3.6%

Summary: 21704 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.8%, 3 bedroom homes decreased by 5%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes decreased by 3.6%.

Median Sold Price Compared To Nearby Zip Codes

21704
+10.4%
21754
-0.2%
21703
-1.2%

Housing Supply in 21704, MD

How many homes are available in 21704, MD?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
4958+18.4%

Summary: The 21704 real estate market had 58 homes for sale in February 2024, a 18.4% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 11
0.0%
3 1821
+16.7%
4 1923
+21.1%
5+ 1113
+18.2%

Summary: The 21704 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 18.2%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
29+350.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 21704, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.

Summary: A total of 9 homes were sold or pending in 21704 in February 2024, up by 350.0% month-over-month. Of the 9 sold homes, 22% were sold under asking, 22% were sold at asking, and 56% were sold over asking.

Days on Market for 21704, MD

How long does it take to sell a home in 21704, MD?

Average Sale Time

Feb 2023Feb 2024CHANGE
42 Days17 Days-58.0%

Summary: Homes in 21704 had an average of 17 days on market in Feb 2024, down by 58% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 21704 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 9 homes were sold in 21704; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% 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

Newest Listings in 21704, MD

Nearby Markets to 21704, MD