$5,047 Closing Credit*
$425,000
1,880 SqFt
3 Beds
•2 Full Baths, 1 Partial
Veronica A Sniscak, Listing Office: Compass
Is Jessup, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Jessup has remained a Seller's Market.
Key Takeaway
Jessup is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Jessup, MD
How much do homes in Jessup, MD cost?
Median Sold Price
$490,000
$246/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$2,500(+0.5%)
Key Takeaway
Homes in Jessup have sold for 0.5% more than they did a year ago.
Summary: The median home sold price in Jessup was $490,000 in September 2024, up 0.5% from last year, and the median price per square foot was $246.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $370K | $416K | +12.4% |
| 3 Bedrooms | $470K | $459K | -2.3% |
| 4 Bedrooms | $510K | $600K | +17.6% |
| 5+ Bedrooms | $777.4K | $782.5K | +0.6% |
Summary: Jessup housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.4%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes increased by 0.6%.
Median Sold Price Compared To Nearby Cities
| Hanover | $515K | $531.3K | +3.2% |
| Jessup | $487.5K | $490K | 0.5% |
Housing Supply in Jessup, MD
How many homes are available in Jessup, MD?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 31 | 32 | +3.2% |
Summary: The Jessup real estate market had 32 homes for sale in September 2024, a 3.2% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 20 | 22 | +10.0% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Jessup housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 8 | 8 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Jessup, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Jessup in September 2024, the same as the previous month. Of the 8 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% were sold over asking.
Days on Market for Jessup, MD
How long does it take to sell a home in Jessup, MD?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 29 Days | 15 Days | -46.3% |
Summary: Homes in Jessup had an average of 15 days on market in Sep 2024, down by 46.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Jessup are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 8 homes were sold in Jessup; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
