Is Oakland, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Oakland has remained a Buyer's Market.
Key Takeaway
Oakland is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Oakland, MD
How much do homes in Oakland, MD cost?
Median Sold Price
$355,900
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Oakland have sold for 46.3% more than they did a year ago.
Summary: The median home sold price in Oakland was $355,900 in March 2024, up 46.3% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $154.9K | $280K | +80.7% |
| 2 Bedrooms | $239K | $210K | -12.1% |
| 3 Bedrooms | $160K | $280K | +75.0% |
| 4 Bedrooms | $561.5K | $550K | -2.0% |
| 5+ Bedrooms | $449.9K | $675K | +50.0% |
Summary: Oakland housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 80.7%, 2 bedroom homes decreased by 12.1%, 3 bedroom homes increased by 75%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 50%.
Housing Supply in Oakland, MD
How many homes are available in Oakland, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 123 | 143 | +16.3% |
Summary: The Oakland real estate market had 143 homes for sale in March 2024, a 16.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 8 | +33.3% |
| 2 Bedrooms | 13 | 17 | +30.8% |
| 3 Bedrooms | 47 | 52 | +10.6% |
| 4 Bedrooms | 22 | 27 | +22.7% |
| 5+ Bedrooms | 35 | 39 | +11.4% |
Summary: The Oakland housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 30.8%, 3 bedroom homes increased by 10.6%, 4 bedroom homes increased by 22.7%, and 5+ bedroom homes increased by 11.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 11 | +57.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Oakland, you may be able to get a good deal. 81.8% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Oakland in March 2024, up by 57.1% month-over-month. Of the 11 sold homes, 82% were sold under asking, 9% were sold at asking, and 9% were sold over asking.
Days on Market for Oakland, MD
How long does it take to sell a home in Oakland, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 126 Days | 90 Days | -28.9% |
Summary: Homes in Oakland had an average of 90 days on market in Mar 2024, down by 28.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Oakland are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 11 homes were sold in Oakland; 45% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.
