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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bowie is a seller's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Bowie was a Neutral Market.

Key Takeaway

Bowie is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Bowie, MD

How much do homes in Bowie, MD cost?

Median Sold Price

$492,666

$236/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$41,333(+9.2%)

Key Takeaway

Homes in Bowie have sold for 9.2% more than they did a year ago.

Summary: The median home sold price in Bowie was $492,666 in February 2024, up 9.2% from last year, and the median price per square foot was $236.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $185K$197K
+6.5%
2 $295K$310K
+5.1%
3 $425K$460K
+8.2%
4 $480.5K$524.9K
+9.3%
5+ $651K$660K
+1.4%

Summary: Bowie housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.5%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 1.4%.

Median Sold Price Compared To Nearby Cities

Bowie
+9.2%
Davidsonville
-0.5%

Housing Supply in Bowie, MD

How many homes are available in Bowie, MD?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
433417-3.7%

Summary: The Bowie real estate market had 417 homes for sale in February 2024, a 3.7% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 13
+200.0%
2 2528
+12.0%
3 174149
-14.4%
4 157157
0.0%
5+ 7680
+5.3%

Summary: The Bowie housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 12%, 3 bedroom homes decreased by 14.4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 5.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
7972-8.9%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

27 Homes Were Sold
At Asking

25 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bowie, expect to pay close to the asking price. 37.5% of homes here sold near the asking price last month.

Summary: A total of 72 homes were sold or pending in Bowie in February 2024, down by 8.9% month-over-month. Of the 72 sold homes, 28% were sold under asking, 38% were sold at asking, and 35% were sold over asking.

Days on Market for Bowie, MD

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

Average Sale Time

Feb 2023Feb 2024CHANGE
40 Days28 Days-28.2%

Summary: Homes in Bowie had an average of 28 days on market in Feb 2024, down by 28.2% compared to last year.

Breakdown of Home Sale Times

47 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 72 homes were sold in Bowie; 65% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 3% 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 Bowie, MD

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