Is Laurel, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Laurel was a Seller's Market.
Key Takeaway
Laurel is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Laurel, MD
How much do homes in Laurel, MD cost?
Median Sold Price
$457,041
$239/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Laurel have sold for 9.2% more than they did a year ago.
Summary: The median home sold price in Laurel was $457,041 in March 2024, up 9.2% from last year, and the median price per square foot was $239.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $199K | $195K | -2.0% |
| 2 Bedrooms | $262.5K | $289K | +10.1% |
| 3 Bedrooms | $419.2K | $435K | +3.8% |
| 4 Bedrooms | $525K | $561.4K | +6.9% |
| 5+ Bedrooms | $649.9K | $651.2K | 0.2% |
Summary: Laurel housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2%, 2 bedroom homes increased by 10.1%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 0.2%.
Housing Supply in Laurel, MD
How many homes are available in Laurel, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 315 | 344 | +9.2% |
Summary: The Laurel real estate market had 344 homes for sale in March 2024, a 9.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 18 | +12.5% |
| 2 Bedrooms | 50 | 52 | +4.0% |
| 3 Bedrooms | 140 | 149 | +6.4% |
| 4 Bedrooms | 75 | 90 | +20.0% |
| 5+ Bedrooms | 34 | 35 | +2.9% |
Summary: The Laurel housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 2.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 55 | 57 | +3.6% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Laurel, you could pay more than the asking price. 56.1% of homes here sold above asking price last month.
Summary: A total of 57 homes were sold or pending in Laurel in March 2024, up by 3.6% month-over-month. Of the 57 sold homes, 12% were sold under asking, 32% were sold at asking, and 56% were sold over asking.
Days on Market for Laurel, MD
How long does it take to sell a home in Laurel, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 21 Days | 17 Days | -17.2% |
Summary: Homes in Laurel had an average of 17 days on market in Mar 2024, down by 17.2% compared to last year.
Breakdown of Home Sale Times
48 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Laurel are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 57 homes were sold in Laurel; 84% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
