Is Sandy Spring, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Sandy Spring has remained a Seller's Market.
Key Takeaway
Sandy Spring is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sandy Spring, MD
How much do homes in Sandy Spring, MD cost?
Median Sold Price
$800,000
$267/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Sandy Spring have sold for 7.5% less than they did a year ago.
Summary: The median home sold price in Sandy Spring was $800,000 in June 2024, down 7.5% from last year, and the median price per square foot was $267.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $475K | N/A |
| 3 Bedrooms | $435K | $542.5K | +24.7% |
| 4 Bedrooms | $935K | $717.5K | -23.3% |
| 5+ Bedrooms | $1.1M | $1.3M | +15.4% |
Summary: Sandy Spring housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 24.7%, 4 bedroom homes decreased by 23.3%, and 5+ bedroom homes increased by 15.4%.
Housing Supply in Sandy Spring, MD
How many homes are available in Sandy Spring, MD?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Summary: The Sandy Spring real estate market had 3 homes for sale in June 2024, a 40.0% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 1 | 0 | -100.0% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Sandy Spring housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 100%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Sandy Spring, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Sandy Spring in June 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Sandy Spring, MD
How long does it take to sell a home in Sandy Spring, MD?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 5 Days | 6 Days | +20.0% |
Summary: Homes in Sandy Spring had an average of 6 days on market in Jun 2024, up by 20% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sandy Spring are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 1 homes were sold in Sandy Spring; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
