Is Upper Marlboro, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Upper Marlboro was a Seller's Market.
Key Takeaway
Upper Marlboro is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Upper Marlboro, MD
How much do homes in Upper Marlboro, MD cost?
Median Sold Price
$460,950
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Upper Marlboro have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in Upper Marlboro was $460,950 in March 2024, up 2.4% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $164.9K | $136K | -17.6% |
| 2 Bedrooms | $287.5K | $295K | +2.6% |
| 3 Bedrooms | $420K | $458.8K | +9.3% |
| 4 Bedrooms | $478.5K | $500.7K | +4.6% |
| 5+ Bedrooms | $640K | $700K | +9.4% |
Summary: Upper Marlboro housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17.6%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes increased by 9.4%.
Housing Supply in Upper Marlboro, MD
How many homes are available in Upper Marlboro, MD?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 525 | 560 | +6.7% |
Summary: The Upper Marlboro real estate market had 560 homes for sale in March 2024, a 6.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 21 | 22 | +4.8% |
| 2 Bedrooms | 59 | 68 | +15.3% |
| 3 Bedrooms | 208 | 213 | +2.4% |
| 4 Bedrooms | 144 | 160 | +11.1% |
| 5+ Bedrooms | 93 | 97 | +4.3% |
Summary: The Upper Marlboro housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.8%, 2 bedroom homes increased by 15.3%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 4.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 70 | 79 | +12.9% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Upper Marlboro, you could pay more than the asking price. 36.7% of homes here sold above asking price last month.
Summary: A total of 79 homes were sold or pending in Upper Marlboro in March 2024, up by 12.9% month-over-month. Of the 79 sold homes, 28% were sold under asking, 35% were sold at asking, and 37% were sold over asking.
Days on Market for Upper Marlboro, MD
How long does it take to sell a home in Upper Marlboro, MD?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 27 Days | 34 Days | +27.9% |
Summary: Homes in Upper Marlboro had an average of 34 days on market in Mar 2024, up by 27.9% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
24 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Upper Marlboro are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 79 homes were sold in Upper Marlboro; 62% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
