Is Columbia, 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, Columbia has remained a Seller's Market.
Key Takeaway
Columbia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Columbia, MD
How much do homes in Columbia, MD cost?
Median Sold Price
$463,217
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Columbia have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in Columbia was $463,217 in March 2024, up 8.3% 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 | $165K | $180K | +9.1% |
| 2 Bedrooms | $260K | $280K | +7.7% |
| 3 Bedrooms | $400K | $420K | +5.0% |
| 4 Bedrooms | $561K | $585K | +4.3% |
| 5+ Bedrooms | $682.5K | $775K | +13.6% |
Summary: Columbia housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 13.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Columbia | $427.7K | $463.2K | +8.3% |
| Ilchester | $465K | $493.7K | +6.2% |
| Savage | $450K | $470K | +4.4% |
| Scaggsville | $525K | $535K | +1.9% |
| Ellicott City | $656.2K | $631.2K | -3.8% |
Housing Supply in Columbia, MD
How many homes are available in Columbia, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 236 | 251 | +6.4% |
Summary: The Columbia real estate market had 251 homes for sale in March 2024, a 6.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 8 | +33.3% |
| 2 Bedrooms | 37 | 36 | -2.7% |
| 3 Bedrooms | 76 | 90 | +18.4% |
| 4 Bedrooms | 81 | 78 | -3.7% |
| 5+ Bedrooms | 36 | 39 | +8.3% |
Summary: The Columbia housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 2.7%, 3 bedroom homes increased by 18.4%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 70 | 70 | 0.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
50 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Columbia, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 70 homes were sold or pending in Columbia in March 2024, the same as the previous month. Of the 70 sold homes, 11% were sold under asking, 17% were sold at asking, and 71% were sold over asking.
Days on Market for Columbia, MD
How long does it take to sell a home in Columbia, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 23 Days | 8 Days | -64.6% |
Summary: Homes in Columbia had an average of 8 days on market in Mar 2024, down by 64.6% compared to last year.
Breakdown of Home Sale Times
66 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Columbia are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 70 homes were sold in Columbia; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
