Is Penrose / Fayette Street Outreach, 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, Penrose / Fayette Street Outreach has remained a Buyer's Market.
Key Takeaway
Penrose / Fayette Street Outreach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Penrose / Fayette Street Outreach, MD
How much do homes in Penrose / Fayette Street Outreach, MD cost?
Median Sold Price
$71,500
$63/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Penrose / Fayette Street Outreach have sold for 28.5% less than they did a year ago.
Summary: The median home sold price in Penrose / Fayette Street Outreach was $71,500 in April 2024, down 28.5% from last year, and the median price per square foot was $63.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $36K | $34.5K | -4.2% |
| 3 Bedrooms | $79.5K | $65K | -18.2% |
| 4 Bedrooms | $175K | $170K | -2.9% |
| 5+ Bedrooms | - | $166.6K | N/A |
Summary: Penrose / Fayette Street Outreach 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 decreased by 4.2%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Shipley Hill | $36.8K | $42.3K | +14.9% |
| Carroll / South Hilton | $105K | $90K | -14.3% |
| Penrose / Fayette Street Outreach | $100K | $71.5K | -28.5% |
Housing Supply in Penrose / Fayette Street Outreach, MD
How many homes are available in Penrose / Fayette Street Outreach, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 24 | +9.1% |
Summary: The Penrose / Fayette Street Outreach real estate market had 24 homes for sale in April 2024, a 9.1% 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 | 3 | 3 | 0.0% |
| 3 Bedrooms | 17 | 20 | +17.6% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Penrose / Fayette Street Outreach 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 remained the same, 3 bedroom homes increased by 17.6%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Penrose / Fayette Street Outreach, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Penrose / Fayette Street Outreach in April 2024, down by 40.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Penrose / Fayette Street Outreach, MD
How long does it take to sell a home in Penrose / Fayette Street Outreach, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 89 Days | +320.3% |
Summary: Homes in Penrose / Fayette Street Outreach had an average of 89 days on market in Apr 2024, up by 320.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Penrose / Fayette Street Outreach has remained consistent over time.
Summary: During April 2024, 3 homes were sold in Penrose / Fayette Street Outreach; 0% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
