Is Aspen Hill, 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, Aspen Hill has remained a Seller's Market.
Key Takeaway
Aspen Hill is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Aspen Hill, MD
How much do homes in Aspen Hill, MD cost?
Median Sold Price
$541,666
$269/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Aspen Hill have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in Aspen Hill was $541,666 in March 2024, up 4.2% from last year, and the median price per square foot was $269.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $168.3K | $162.2K | -3.6% |
| 2 Bedrooms | $215K | $225K | +4.7% |
| 3 Bedrooms | $460K | $480K | +4.3% |
| 4 Bedrooms | $610K | $652K | +6.9% |
| 5+ Bedrooms | $670K | $725K | +8.2% |
Summary: Aspen Hill housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.6%, 2 bedroom homes increased by 4.7%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 8.2%.
Median Sold Price Compared To Nearby Neighborhoods
| Aspen Hill | $520K | $541.6K | +4.2% |
| Leisure World | $232.9K | $235.3K | +1.0% |
Housing Supply in Aspen Hill, MD
How many homes are available in Aspen Hill, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 88 | 107 | +21.6% |
Summary: The Aspen Hill real estate market had 107 homes for sale in March 2024, a 21.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 6 | +20.0% |
| 2 Bedrooms | 8 | 9 | +12.5% |
| 3 Bedrooms | 26 | 28 | +7.7% |
| 4 Bedrooms | 27 | 36 | +33.3% |
| 5+ Bedrooms | 22 | 28 | +27.3% |
Summary: The Aspen Hill housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 27.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 31 | +82.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Aspen Hill, you could pay more than the asking price. 58.1% of homes here sold above asking price last month.
Summary: A total of 31 homes were sold or pending in Aspen Hill in March 2024, up by 82.4% month-over-month. Of the 31 sold homes, 19% were sold under asking, 23% were sold at asking, and 58% were sold over asking.
Days on Market for Aspen Hill, MD
How long does it take to sell a home in Aspen Hill, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 22 Days | 18 Days | -19.1% |
Summary: Homes in Aspen Hill had an average of 18 days on market in Mar 2024, down by 19.1% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Aspen Hill are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 31 homes were sold in Aspen Hill; 77% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
