Is South Laurel, 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, South Laurel has remained a Seller's Market.
Housing Prices in South Laurel, MD
How much do homes in South Laurel, MD cost?
Median Sold Price
$460,000
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in South Laurel was $460,000 in April 2024, up 3.4% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $214.5K | $227.5K | +6.1% |
2 Bedrooms | $275K | $290K | +5.5% |
3 Bedrooms | $415K | $394.9K | -4.8% |
4 Bedrooms | $510K | $540K | +5.9% |
5+ Bedrooms | $532.5K | $602.5K | +13.1% |
Summary: South Laurel housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.1%, 2 bedroom homes increased by 5.5%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 13.1%.
Median Sold Price Compared To Nearby Neighborhoods
South Laurel | $445K | $460K | +3.4% |
Montpelier | $540K | $549K | +1.7% |
Housing Supply in South Laurel, MD
How many homes are available in South Laurel, MD?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
34 | 37 | +8.8% |
Summary: The South Laurel real estate market had 37 homes for sale in April 2024, a 8.8% 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 | 6 | 2 | -66.7% |
3 Bedrooms | 12 | 14 | +16.7% |
4 Bedrooms | 8 | 14 | +75.0% |
5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The South Laurel 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 66.7%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 75%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 8 | -33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in South Laurel in April 2024, down by 33.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% were sold over asking.
Days on Market for South Laurel, MD
How long does it take to sell a home in South Laurel, MD?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
14 Days | 22 Days | +56.6% |
Summary: Homes in South Laurel had an average of 22 days on market in Apr 2024, up by 56.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 8 homes were sold in South Laurel; 88% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.