Is Reservoir Hill, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Reservoir Hill was a Buyer's Market.
Key Takeaway
Reservoir Hill is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Reservoir Hill, MD
How much do homes in Reservoir Hill, MD cost?
Median Sold Price
$305,000
$103/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Reservoir Hill have sold for 18.4% less than they did a month ago.
Summary: The median home sold price in Reservoir Hill was $305,000 in April 2024, down 18.4% from last month, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $40K | N/A |
| 3 Bedrooms | - | $165K | N/A |
| 4 Bedrooms | $373.7K | $307.4K | -17.7% |
| 5+ Bedrooms | - | $451.2K | N/A |
Summary: Reservoir Hill housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes decreased by 17.7%, and 5+ bedroom homes did not change.
Housing Supply in Reservoir Hill, MD
How many homes are available in Reservoir Hill, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 21 | +5.0% |
Summary: The Reservoir Hill real estate market had 21 homes for sale in April 2024, a 5.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Reservoir Hill 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 25%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Reservoir Hill, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Reservoir Hill in April 2024, up by 150.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for Reservoir Hill, MD
How long does it take to sell a home in Reservoir Hill, MD?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 71 Days | 33 Days | -53.0% |
Summary: Homes in Reservoir Hill had an average of 33 days on market in Apr 2024, down by 53% compared to last month.
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 Reservoir Hill are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in Reservoir Hill; 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.
