Is 20854, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 20854 has remained a Seller's Market.
Key Takeaway
20854 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20854, MD
How much do homes in 20854, MD cost?
Median Sold Price
$1,274,166
$344/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in 20854 has remained the same since last year.
Summary: The median home sold price in 20854 was $1,274,166 in May 2024, down 0.1% from last year, and the median price per square foot was $344.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $620K | N/A |
| 2 Bedrooms | $1.0M | $1.0M | +0.9% |
| 3 Bedrooms | $822.5K | $874.2K | +6.3% |
| 4 Bedrooms | $1.0M | $1.1M | +13.4% |
| 5+ Bedrooms | $1.5M | $1.6M | +3.8% |
Summary: 20854 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.9%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes increased by 3.8%.
Housing Supply in 20854, MD
How many homes are available in 20854, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 155 | 180 | +16.1% |
Summary: The 20854 real estate market had 180 homes for sale in May 2024, a 16.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 8 | 15 | +87.5% |
| 4 Bedrooms | 50 | 51 | +2.0% |
| 5+ Bedrooms | 94 | 110 | +17.0% |
Summary: The 20854 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 87.5%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 17%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 40 | 40 | 0.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20854, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 40 homes were sold or pending in 20854 in May 2024, the same as the previous month. Of the 40 sold homes, 23% were sold under asking, 18% were sold at asking, and 60% were sold over asking.
Days on Market for 20854, MD
How long does it take to sell a home in 20854, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 9 Days | -42.7% |
Summary: Homes in 20854 had an average of 9 days on market in May 2024, down by 42.7% compared to last year.
Breakdown of Home Sale Times
38 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 20854 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 40 homes were sold in 20854; 95% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
