Is Olney, 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, Olney has remained a Seller's Market.
Key Takeaway
Olney is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Olney, MD
How much do homes in Olney, MD cost?
Median Sold Price
$650,000
$275/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Olney have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Olney was $650,000 in April 2024, up 6.5% from last year, and the median price per square foot was $275.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $147.5K | $158K | +7.1% |
| 2 Bedrooms | $290K | $330K | +13.8% |
| 3 Bedrooms | $480K | $530K | +10.4% |
| 4 Bedrooms | $680K | $735K | +8.1% |
| 5+ Bedrooms | $817.5K | $855K | +4.6% |
Summary: Olney housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.1%, 2 bedroom homes increased by 13.8%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 4.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Olney Oaks | $637.5K | $755.8K | +18.6% |
| Olney | $610.5K | $650K | +6.5% |
Housing Supply in Olney, MD
How many homes are available in Olney, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 68 | 105 | +54.4% |
Summary: The Olney real estate market had 105 homes for sale in April 2024, a 54.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 22 | 33 | +50.0% |
| 4 Bedrooms | 25 | 45 | +80.0% |
| 5+ Bedrooms | 13 | 21 | +61.5% |
Summary: The Olney housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 80%, and 5+ bedroom homes increased by 61.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 40 | +100.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
27 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Olney, you could pay more than the asking price. 67.5% of homes here sold above asking price last month.
Summary: A total of 40 homes were sold or pending in Olney in April 2024, up by 100.0% month-over-month. Of the 40 sold homes, 15% were sold under asking, 18% were sold at asking, and 68% were sold over asking.
Days on Market for Olney, MD
How long does it take to sell a home in Olney, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 19 Days | 9 Days | -51.3% |
Summary: Homes in Olney had an average of 9 days on market in Apr 2024, down by 51.3% compared to last year.
Breakdown of Home Sale Times
38 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Olney are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 40 homes were sold in Olney; 95% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
