Is Suitland, 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, Suitland has remained a Seller's Market.
Key Takeaway
Suitland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Suitland, MD
How much do homes in Suitland, MD cost?
Median Sold Price
$330,000
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Suitland have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in Suitland was $330,000 in April 2024, up 4.8% 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 | $102.5K | $105K | +2.4% |
| 2 Bedrooms | $160K | $140K | -12.5% |
| 3 Bedrooms | $302.5K | $335K | +10.7% |
| 4 Bedrooms | $367.5K | $399.5K | +8.7% |
| 5+ Bedrooms | $398.5K | $436K | +9.4% |
Summary: Suitland housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 9.4%.
Housing Supply in Suitland, MD
How many homes are available in Suitland, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 49 | 52 | +6.1% |
Summary: The Suitland real estate market had 52 homes for sale in April 2024, a 6.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 10 | 11 | +10.0% |
| 3 Bedrooms | 25 | 28 | +12.0% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Suitland housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 12%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 15 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Suitland, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Suitland in April 2024, the same as the previous month. Of the 15 sold homes, 27% were sold under asking, 13% were sold at asking, and 60% were sold over asking.
Days on Market for Suitland, MD
How long does it take to sell a home in Suitland, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 30 Days | 21 Days | -29.2% |
Summary: Homes in Suitland had an average of 21 days on market in Apr 2024, down by 29.2% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Suitland are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 15 homes were sold in Suitland; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
