Is 20774, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, 20774 was a Seller's Market.
Key Takeaway
20774 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 20774, MD
How much do homes in 20774, MD cost?
Median Sold Price
$459,730
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 20774 have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in 20774 was $459,730 in May 2024, up 6.2% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $123K | $135K | +9.8% |
| 2 Bedrooms | $270K | $295K | +9.3% |
| 3 Bedrooms | $415K | $465K | +12.0% |
| 4 Bedrooms | $500K | $517.5K | +3.5% |
| 5+ Bedrooms | $630K | $700K | +11.1% |
Summary: 20774 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.8%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 11.1%.
Housing Supply in 20774, MD
How many homes are available in 20774, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 164 | 186 | +13.4% |
Summary: The 20774 real estate market had 186 homes for sale in May 2024, a 13.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 7 | -22.2% |
| 2 Bedrooms | 30 | 33 | +10.0% |
| 3 Bedrooms | 52 | 60 | +15.4% |
| 4 Bedrooms | 50 | 55 | +10.0% |
| 5+ Bedrooms | 23 | 31 | +34.8% |
Summary: The 20774 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 22.2%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 34.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 39 | 25 | -35.9% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20774, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 25 homes were sold or pending in 20774 in May 2024, down by 35.9% month-over-month. Of the 25 sold homes, 24% were sold under asking, 40% were sold at asking, and 36% were sold over asking.
Days on Market for 20774, MD
How long does it take to sell a home in 20774, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 32 Days | 28 Days | -12.3% |
Summary: Homes in 20774 had an average of 28 days on market in May 2024, down by 12.3% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 20774 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 25 homes were sold in 20774; 72% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
