Is Bowie, 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, Bowie has remained a Seller's 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
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Bowie have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in Bowie was $492,666 in March 2024, up 7.3% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185.5K | $199K | +7.3% |
| 2 Bedrooms | $295K | $310K | +5.1% |
| 3 Bedrooms | $424.1K | $460K | +8.5% |
| 4 Bedrooms | $490K | $525K | +7.1% |
| 5+ Bedrooms | $657.1K | $655K | -0.3% |
Summary: Bowie housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.3%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 0.3%.
Median Sold Price Compared To Nearby Cities
| Davidsonville | $837.5K | $910K | +8.7% |
| Bowie | $459K | $492.6K | +7.3% |
Housing Supply in Bowie, MD
How many homes are available in Bowie, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 435 | 433 | -0.5% |
Summary: The Bowie real estate market had 433 homes for sale in March 2024, a 0.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 29 | 29 | 0.0% |
| 3 Bedrooms | 157 | 156 | -0.6% |
| 4 Bedrooms | 165 | 161 | -2.4% |
| 5+ Bedrooms | 81 | 84 | +3.7% |
Summary: The Bowie housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 0.6%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes increased by 3.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 80 | 83 | +3.8% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
32 Homes Were Sold
At Asking
33 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bowie, you could pay more than the asking price. 39.8% of homes here sold above asking price last month.
Summary: A total of 83 homes were sold or pending in Bowie in March 2024, up by 3.8% month-over-month. Of the 83 sold homes, 22% were sold under asking, 39% were sold at asking, and 40% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 29 Days | 21 Days | -28.0% |
Summary: Homes in Bowie had an average of 21 days on market in Mar 2024, down by 28% compared to last year.
Breakdown of Home Sale Times
64 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bowie are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 83 homes were sold in Bowie; 77% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
