Is Patterson 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, Patterson Park has remained a Seller's Market.
Key Takeaway
Patterson Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Patterson Park, MD
How much do homes in Patterson Park, MD cost?
Median Sold Price
$290,000
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Patterson Park have sold for 7.4% more than they did a year ago.
Summary: The median home sold price in Patterson Park was $290,000 in April 2024, up 7.4% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $243.7K | $245K | 0.5% |
| 3 Bedrooms | $285K | $325K | +14.0% |
| 4 Bedrooms | $387K | $442.5K | +14.3% |
| 5+ Bedrooms | $342.5K | $355.1K | +3.7% |
Summary: Patterson 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 0.5%, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 3.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Patterson Park | $270K | $290K | +7.4% |
| Highlandtown | $320K | $325K | +1.6% |
| Ellwood Park / Monument | $115.5K | $115K | -0.4% |
| McElderry Park | $147.5K | $123K | -16.6% |
Housing Supply in Patterson Park, MD
How many homes are available in Patterson Park, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 45 | 45 | 0.0% |
Summary: The Patterson Park real estate market had 45 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 14 | 12 | -14.3% |
| 3 Bedrooms | 25 | 25 | 0.0% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Patterson 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 decreased by 14.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 8 | -38.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Patterson Park, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Patterson Park in April 2024, down by 38.5% month-over-month. Of the 8 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Patterson Park, MD
How long does it take to sell a home in Patterson Park, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 40 Days | 52 Days | +31.5% |
Summary: Homes in Patterson Park had an average of 52 days on market in Apr 2024, up by 31.5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Patterson Park are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in Patterson Park; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
