Is Jessup, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$247/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Jessup have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in Jessup was $490,000 in April 2024, up 8.3% from last year, and the median price per square foot was $247.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $344.9K | $400K | +16.0% |
| 3 Bedrooms | $445.2K | $470K | +5.6% |
| 4 Bedrooms | $487.5K | $527.5K | +8.2% |
| 5+ Bedrooms | $754.9K | $740.7K | -1.9% |
Summary: Jessup housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes decreased by 1.9%.
Median Sold Price Compared To Nearby Cities
| Jessup | $452.6K | $490K | +8.3% |
| Hanover | $510K | $530K | +3.9% |
Housing Supply in Jessup, MD
How many homes are available in Jessup, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 31 | 30 | -3.2% |
Summary: The Jessup real estate market had 30 homes for sale in April 2024, a 3.2% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 15 | 12 | -20.0% |
| 4 Bedrooms | 8 | 10 | +25.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Jessup housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 9 | -40.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Jessup, expect to pay close to the asking price. 44.4% of homes here sold near the asking price last month.
Summary: A total of 9 homes were sold or pending in Jessup in April 2024, down by 40.0% month-over-month. Of the 9 sold homes, 33% were sold under asking, 44% were sold at asking, and 22% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 32 Days | 15 Days | -51.3% |
Summary: Homes in Jessup had an average of 15 days on market in Apr 2024, down by 51.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were 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 April 2024, 9 homes were sold in Jessup; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
