Is Leonardtown, 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, Leonardtown was a Seller's Market.
Key Takeaway
Leonardtown is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Leonardtown, MD
How much do homes in Leonardtown, MD cost?
Median Sold Price
$526,282
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Leonardtown have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in Leonardtown was $526,282 in March 2024, up 9.4% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $402K | $275K | -31.6% |
| 3 Bedrooms | $398.2K | $400K | 0.5% |
| 4 Bedrooms | $508K | $557.4K | +9.7% |
| 5+ Bedrooms | $600K | $625K | +4.2% |
Summary: Leonardtown housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 31.6%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 4.2%.
Housing Supply in Leonardtown, MD
How many homes are available in Leonardtown, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 103 | 101 | -1.9% |
Summary: The Leonardtown real estate market had 101 homes for sale in March 2024, a 1.9% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 4 | -33.3% |
| 3 Bedrooms | 30 | 28 | -6.7% |
| 4 Bedrooms | 48 | 49 | +2.1% |
| 5+ Bedrooms | 19 | 20 | +5.3% |
Summary: The Leonardtown housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 5.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 12 | -25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Leonardtown, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Leonardtown in March 2024, down by 25.0% month-over-month. Of the 12 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Leonardtown, MD
How long does it take to sell a home in Leonardtown, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 16 Days | 28 Days | +76.4% |
Summary: Homes in Leonardtown had an average of 28 days on market in Mar 2024, up by 76.4% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Leonardtown are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 12 homes were sold in Leonardtown; 75% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
