$6,056 Closing Credit*
$510,000
1,640 SqFt
3 Beds
•2 Full Baths, 1 Partial
Traevonne McLean Abebe, Listing Office: RE/MAX Realty Services
Is Laurel, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
Since last year, Laurel has remained a Seller's Market.
Key Takeaway
Laurel is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Laurel, MD
How much do homes in Laurel, MD cost?
Median Sold Price
$459,281
$244/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$8,323(+1.8%)
Key Takeaway
Homes in Laurel have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in Laurel was $459,281 in August 2024, up 1.8% from last year, and the median price per square foot was $244.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | $200K | 0.0% |
| 2 Bedrooms | $278.9K | $298.9K | +7.2% |
| 3 Bedrooms | $430K | $449.9K | +4.6% |
| 4 Bedrooms | $551.5K | $564.2K | +2.3% |
| 5+ Bedrooms | $603.8K | $700K | +15.9% |
Summary: Laurel housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.2%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 15.9%.
Housing Supply in Laurel, MD
How many homes are available in Laurel, MD?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 277 | 287 | +3.6% |
Summary: The Laurel real estate market had 287 homes for sale in August 2024, a 3.6% increase compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 9 | -10.0% |
| 2 Bedrooms | 49 | 44 | -10.2% |
| 3 Bedrooms | 126 | 125 | -0.8% |
| 4 Bedrooms | 63 | 75 | +19.0% |
| 5+ Bedrooms | 29 | 34 | +17.2% |
Summary: The Laurel housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 10%, 2 bedroom homes decreased by 10.2%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 17.2%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 95 | 90 | -5.3% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
29 Homes Were Sold
At Asking
43 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Laurel, you could pay more than the asking price. 47.8% of homes here sold above asking price last month.
Summary: A total of 90 homes were sold or pending in Laurel in August 2024, down by 5.3% month-over-month. Of the 90 sold homes, 20% were sold under asking, 32% were sold at asking, and 48% 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
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 15 Days | 17 Days | +17.2% |
Summary: Homes in Laurel had an average of 17 days on market in Aug 2024, up by 17.2% compared to last year.
Breakdown of Home Sale Times
79 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Laurel are selling fast, if you're buying plan to act quickly.
Summary: During August 2024, 90 homes were sold in Laurel; 88% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
