Is Bowie, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Bowie was a Neutral Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $185K | $197K | +6.5% |
2 Bedrooms | $295K | $310K | +5.1% |
3 Bedrooms | $425K | $460K | +8.2% |
4 Bedrooms | $480.5K | $524.9K | +9.3% |
5+ Bedrooms | $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 | $451.3K | $492.6K | +9.2% |
Davidsonville | $910K | $905K | -0.5% |
Housing Supply in Bowie, MD
How many homes are available in Bowie, MD?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
433 | 417 | -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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 3 | +200.0% |
2 Bedrooms | 25 | 28 | +12.0% |
3 Bedrooms | 174 | 149 | -14.4% |
4 Bedrooms | 157 | 157 | 0.0% |
5+ Bedrooms | 76 | 80 | +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 2024 | Feb 2024 | CHANGE |
---|---|---|
79 | 72 | -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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
40 Days | 28 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
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.