$10,000 Closing Credit*
$885,000
2,320 SqFt
5 Beds
•3 Full Baths
Jared Isaac Soon, Listing Office: Long & Foster Real Estate, Inc.
Is Takoma Park, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
At the same time last year, Takoma Park was a Seller's Market.
Key Takeaway
Takoma Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Takoma Park, MD
How much do homes in Takoma Park, MD cost?
Median Sold Price
$674,500
$354/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
-$500(-0.1%)
Key Takeaway
The sold price of homes in Takoma Park has remained the same since last year.
Summary: The median home sold price in Takoma Park was $674,500 in September 2024, down 0.1% from last year, and the median price per square foot was $354.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $188.5K | $193.5K | +2.7% |
| 2 Bedrooms | $259K | $250.5K | -3.3% |
| 3 Bedrooms | $675K | $650K | -3.7% |
| 4 Bedrooms | $795K | $794K | -0.1% |
| 5+ Bedrooms | $1.0M | $1.1M | +6.9% |
Summary: Takoma Park housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.7%, 2 bedroom homes decreased by 3.3%, 3 bedroom homes decreased by 3.7%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes increased by 6.9%.
Housing Supply in Takoma Park, MD
How many homes are available in Takoma Park, MD?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 50 | 56 | +12.0% |
Summary: The Takoma Park real estate market had 56 homes for sale in September 2024, a 12.0% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 16 | 16 | 0.0% |
| 4 Bedrooms | 14 | 22 | +57.1% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Takoma Park housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 57.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 16 | 7 | -56.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Takoma Park, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Takoma Park in September 2024, down by 56.3% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for Takoma Park, MD
How long does it take to sell a home in Takoma Park, MD?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 15 Days | 36 Days | +136.3% |
Summary: Homes in Takoma Park had an average of 36 days on market in Sep 2024, up by 136.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Takoma Park has remained consistent over time.
Summary: During September 2024, 7 homes were sold in Takoma Park; 43% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
