Is Drum Point, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Drum Point was a Buyer's Market.
Key Takeaway
Drum Point is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Drum Point, MD
How much do homes in Drum Point, MD cost?
Median Sold Price
$329,500
$204/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Drum Point have sold for 9.7% less than they did a month ago.
Summary: The median home sold price in Drum Point was $329,500 in March 2024, down 9.7% from last month, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $365K | $269.5K | -26.2% |
| 4 Bedrooms | - | $460K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Drum Point housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 26.2%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Drum Point, MD
How many homes are available in Drum Point, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 18 | +20.0% |
Summary: The Drum Point real estate market had 18 homes for sale in March 2024, a 20.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 9 | 9 | 0.0% |
| 4 Bedrooms | 3 | 6 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Drum Point 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 remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Drum Point, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Drum Point in March 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Drum Point, MD
How long does it take to sell a home in Drum Point, MD?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 Days | 51 Days | +221.9% |
Summary: Homes in Drum Point had an average of 51 days on market in Mar 2024, up by 221.9% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Drum Point are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Drum Point; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
