Is College Park, 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, College Park has remained a Buyer's Market.
Housing Prices in College Park, MD
How much do homes in College Park, MD cost?
Median Sold Price
$447,450
$262/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in College Park was $447,450 in March 2024, up 7.6% from last year, and the median price per square foot was $262.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $165K | $144.9K | -12.2% |
2 Bedrooms | $189.9K | $183.5K | -3.4% |
3 Bedrooms | $380K | $441K | +16.1% |
4 Bedrooms | $443.5K | $483K | +8.9% |
5+ Bedrooms | $499.9K | $490K | -2.0% |
Summary: College Park housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.2%, 2 bedroom homes decreased by 3.4%, 3 bedroom homes increased by 16.1%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes decreased by 2%.
Median Sold Price Compared To Nearby Cities
Riverdale Park | $465K | $555.5K | +19.5% |
College Park | $416K | $447.4K | +7.6% |
Greenbelt | $223.5K | $240K | +7.4% |
Berwyn Heights | $423.7K | $450K | +6.2% |
Housing Supply in College Park, MD
How many homes are available in College Park, MD?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
69 | 77 | +11.6% |
Summary: The College Park real estate market had 77 homes for sale in March 2024, a 11.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 8 | +14.3% |
2 Bedrooms | 13 | 17 | +30.8% |
3 Bedrooms | 19 | 23 | +21.1% |
4 Bedrooms | 13 | 14 | +7.7% |
5+ Bedrooms | 17 | 15 | -11.8% |
Summary: The College Park housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 30.8%, 3 bedroom homes increased by 21.1%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes decreased by 11.8%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
8 | 7 | -12.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in College Park in March 2024, down by 12.5% month-over-month. Of the 7 sold homes, 29% were sold under asking, 0% were sold at asking, and 71% were sold over asking.
Days on Market for College Park, MD
How long does it take to sell a home in College Park, MD?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
36 Days | 14 Days | -59.4% |
Summary: Homes in College Park had an average of 14 days on market in Mar 2024, down by 59.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 7 homes were sold in College Park; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.