Is Wheaton, 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, Wheaton has remained a Seller's Market.
Key Takeaway
Wheaton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wheaton, MD
How much do homes in Wheaton, MD cost?
Median Sold Price
$525,000
$309/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Wheaton have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in Wheaton was $525,000 in April 2024, up 4.9% from last year, and the median price per square foot was $309.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $247.7K | $176K | -29.0% |
| 2 Bedrooms | $365K | $385K | +5.5% |
| 3 Bedrooms | $499.9K | $506.7K | +1.4% |
| 4 Bedrooms | $520K | $550.7K | +5.9% |
| 5+ Bedrooms | $550K | $575.5K | +4.6% |
Summary: Wheaton housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 29%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 4.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Rock Creek Palisades | $602.5K | $654.3K | +8.6% |
| North Kensington | $575K | $621.5K | +8.1% |
| Wheaton | $500.5K | $525K | +4.9% |
Housing Supply in Wheaton, MD
How many homes are available in Wheaton, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 62 | 78 | +25.8% |
Summary: The Wheaton real estate market had 78 homes for sale in April 2024, a 25.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 20 | 26 | +30.0% |
| 4 Bedrooms | 26 | 32 | +23.1% |
| 5+ Bedrooms | 11 | 15 | +36.4% |
Summary: The Wheaton 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 remained the same, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 36.4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 28 | +21.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wheaton, you could pay more than the asking price. 67.9% of homes here sold above asking price last month.
Summary: A total of 28 homes were sold or pending in Wheaton in April 2024, up by 21.7% month-over-month. Of the 28 sold homes, 14% were sold under asking, 18% were sold at asking, and 68% were sold over asking.
Days on Market for Wheaton, MD
How long does it take to sell a home in Wheaton, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 18 Days | 15 Days | -15.5% |
Summary: Homes in Wheaton had an average of 15 days on market in Apr 2024, down by 15.5% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wheaton are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 28 homes were sold in Wheaton; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
