Is Mount Rainier, 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, Mount Rainier was a Neutral Market.
Key Takeaway
Mount Rainier is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mount Rainier, MD
How much do homes in Mount Rainier, MD cost?
Median Sold Price
$520,000
$307/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Mount Rainier have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in Mount Rainier was $520,000 in March 2024, up 1.8% from last year, and the median price per square foot was $307.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $362.5K | $349.5K | -3.6% |
| 3 Bedrooms | $400K | $401.2K | 0.3% |
| 4 Bedrooms | $544.2K | $560K | +2.9% |
| 5+ Bedrooms | $590K | $617.5K | +4.7% |
Summary: Mount Rainier 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 3.6%, 3 bedroom homes increased by 0.3%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 4.7%.
Median Sold Price Compared To Nearby Cities
| Hyattsville | $381.3K | $390K | +2.3% |
| Mount Rainier | $510.7K | $520K | +1.8% |
| Brentwood | $420K | $385.5K | -8.2% |
Housing Supply in Mount Rainier, MD
How many homes are available in Mount Rainier, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 40 | 43 | +7.5% |
Summary: The Mount Rainier real estate market had 43 homes for sale in March 2024, a 7.5% increase 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 13 | 15 | +15.4% |
| 5+ Bedrooms | 14 | 15 | +7.1% |
Summary: The Mount Rainier 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 7.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mount Rainier, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Mount Rainier in March 2024, up by 66.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for Mount Rainier, MD
How long does it take to sell a home in Mount Rainier, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 29 Days | 32 Days | +13.1% |
Summary: Homes in Mount Rainier had an average of 32 days on market in Mar 2024, up by 13.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Mount Rainier are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Mount Rainier; 80% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
