Is South, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, South has remained a Buyer's Market.
Housing Prices in South, MD
How much do homes in South, MD cost?
Median Sold Price
$290,500
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in South was $290,500 in February 2024, up 0.2% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $215K | $237.5K | +10.5% |
2 Bedrooms | $265K | $280K | +5.7% |
3 Bedrooms | $316.7K | $282.5K | -10.8% |
4 Bedrooms | $495K | $420K | -15.2% |
5+ Bedrooms | $346.5K | $320K | -7.6% |
Summary: South housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.5%, 2 bedroom homes increased by 5.7%, 3 bedroom homes decreased by 10.8%, 4 bedroom homes decreased by 15.2%, and 5+ bedroom homes decreased by 7.6%.
Housing Supply in South, MD
How many homes are available in South, MD?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
429 | 467 | +8.9% |
Summary: The South real estate market had 467 homes for sale in February 2024, a 8.9% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 15 | +36.4% |
2 Bedrooms | 141 | 161 | +14.2% |
3 Bedrooms | 201 | 209 | +4.0% |
4 Bedrooms | 59 | 65 | +10.2% |
5+ Bedrooms | 17 | 17 | 0.0% |
Summary: The South housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 36.4%, 2 bedroom homes increased by 14.2%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
29 | 57 | +96.6% |
Asking Price vs. Sold Price
27 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Summary: A total of 57 homes were sold or pending in South in February 2024, up by 96.6% month-over-month. Of the 57 sold homes, 47% were sold under asking, 25% were sold at asking, and 28% were sold over asking.
Days on Market for South, MD
How long does it take to sell a home in South, MD?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
33 Days | 37 Days | +14.0% |
Summary: Homes in South had an average of 37 days on market in Feb 2024, up by 14% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During February 2024, 57 homes were sold in South; 61% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.