Is Gwynn Oak, 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, Gwynn Oak has remained a Seller's Market.
Key Takeaway
Gwynn Oak is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gwynn Oak, MD
How much do homes in Gwynn Oak, MD cost?
Median Sold Price
$289,966
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Gwynn Oak have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Gwynn Oak was $289,966 in March 2024, up 4.5% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $200K | N/A |
| 2 Bedrooms | $192.5K | $206K | +7.0% |
| 3 Bedrooms | $250K | $263.7K | +5.5% |
| 4 Bedrooms | $300K | $325.3K | +8.5% |
| 5+ Bedrooms | $350K | $380K | +8.6% |
Summary: Gwynn Oak housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 8.6%.
Median Sold Price Compared To Nearby Cities
| Windsor Mill | $280K | $312.2K | +11.5% |
| Pikesville | $340K | $375K | +10.3% |
| Gwynn Oak | $277.5K | $289.9K | +4.5% |
| Catonsville | $379.9K | $395.3K | +4.1% |
| Baltimore | $214.6K | $219.9K | +2.5% |
Housing Supply in Gwynn Oak, MD
How many homes are available in Gwynn Oak, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 194 | 203 | +4.6% |
Summary: The Gwynn Oak real estate market had 203 homes for sale in March 2024, a 4.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 13 | 13 | 0.0% |
| 3 Bedrooms | 78 | 83 | +6.4% |
| 4 Bedrooms | 50 | 45 | -10.0% |
| 5+ Bedrooms | 53 | 61 | +15.1% |
Summary: The Gwynn Oak housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 6.4%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 15.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 25 | 35 | +40.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gwynn Oak, you could pay more than the asking price. 62.9% of homes here sold above asking price last month.
Summary: A total of 35 homes were sold or pending in Gwynn Oak in March 2024, up by 40.0% month-over-month. Of the 35 sold homes, 11% were sold under asking, 26% were sold at asking, and 63% were sold over asking.
Days on Market for Gwynn Oak, MD
How long does it take to sell a home in Gwynn Oak, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 22 Days | 18 Days | -18.6% |
Summary: Homes in Gwynn Oak had an average of 18 days on market in Mar 2024, down by 18.6% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Gwynn Oak are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 35 homes were sold in Gwynn Oak; 80% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
