Is Garrett Park, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Garrett Park has remained a Seller's Market.
Key Takeaway
Garrett Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Garrett Park, MD
How much do homes in Garrett Park, MD cost?
Median Sold Price
$2,650,000
$492/sqft
Based on all homes sold in June 2024.
Difference Since Last Month
Key Takeaway
Homes in Garrett Park have sold for 163.6% more than they did a month ago.
Summary: The median home sold price in Garrett Park was $2,650,000 in June 2024, up 163.6% from last month, and the median price per square foot was $492.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $700K | - | N/A |
| 3 Bedrooms | - | - | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | $1.3M | $2.6M | +102.1% |
Summary: Garrett Park housing prices by bedroom type for June 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 did not change, 4 bedroom homes did not change, and 5+ bedroom homes increased by 102.1%.
Housing Supply in Garrett Park, MD
How many homes are available in Garrett Park, MD?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Summary: The Garrett Park real estate market had 4 homes for sale in June 2024, a 33.3% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 0 | 1 | +100.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The Garrett Park housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Garrett Park, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in Garrett Park in June 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Garrett Park, MD
How long does it take to sell a home in Garrett Park, MD?
Average Sale Time
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 13 Days | 6 Days | -53.8% |
Summary: Homes in Garrett Park had an average of 6 days on market in Jun 2024, down by 53.8% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Garrett Park are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 1 homes were sold in Garrett Park; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
