Is Lanham, 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, Lanham has remained a Seller's Market.
Housing Prices in Lanham, MD
How much do homes in Lanham, MD cost?
Median Sold Price
$449,000
$255/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lanham was $449,000 in April 2024, up 6.9% from last year, and the median price per square foot was $255.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $360K | $322.5K | -10.4% |
3 Bedrooms | $383K | $405K | +5.7% |
4 Bedrooms | $402.5K | $466K | +15.8% |
5+ Bedrooms | $592.5K | $498K | -15.9% |
Summary: Lanham 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 decreased by 10.4%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes decreased by 15.9%.
Housing Supply in Lanham, MD
How many homes are available in Lanham, MD?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
29 | 33 | +13.8% |
Summary: The Lanham real estate market had 33 homes for sale in April 2024, a 13.8% increase 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 | 1 | 1 | 0.0% |
3 Bedrooms | 14 | 20 | +42.9% |
4 Bedrooms | 9 | 7 | -22.2% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Lanham 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 remained the same, 3 bedroom homes increased by 42.9%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
10 | 11 | +10.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Lanham in April 2024, up by 10.0% month-over-month. Of the 11 sold homes, 18% were sold under asking, 18% were sold at asking, and 64% were sold over asking.
Days on Market for Lanham, MD
How long does it take to sell a home in Lanham, MD?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
40 Days | 11 Days | -70.9% |
Summary: Homes in Lanham had an average of 11 days on market in Apr 2024, down by 70.9% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 11 homes were sold in Lanham; 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.