Is Morrell Park, 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, Morrell Park has remained a Seller's Market.
Housing Prices in Morrell Park, MD
How much do homes in Morrell Park, MD cost?
Median Sold Price
$127,000
$117/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Morrell Park was $127,000 in April 2024, up 10.4% from last year, and the median price per square foot was $117.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $100K | $117K | +17.0% |
3 Bedrooms | $126K | $135K | +7.2% |
4 Bedrooms | $121K | $143K | +18.2% |
5+ Bedrooms | $250K | $127K | -49.2% |
Summary: Morrell Park 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 17%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes decreased by 49.2%.
Median Sold Price Compared To Nearby Neighborhoods
Morrell Park | $115K | $127K | +10.4% |
Lakeland | $125K | $131K | +4.8% |
Housing Supply in Morrell Park, MD
How many homes are available in Morrell Park, MD?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
15 | 19 | +26.7% |
Summary: The Morrell Park real estate market had 19 homes for sale in April 2024, a 26.7% 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 | 4 | 5 | +25.0% |
3 Bedrooms | 8 | 10 | +25.0% |
4 Bedrooms | 3 | 3 | 0.0% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Morrell Park 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 increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 6 | +20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Morrell Park in April 2024, up by 20.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Morrell Park, MD
How long does it take to sell a home in Morrell Park, MD?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
29 Days | 25 Days | -15.2% |
Summary: Homes in Morrell Park had an average of 25 days on market in Apr 2024, down by 15.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 6 homes were sold in Morrell Park; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.