Is 20901, 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, 20901 has remained a Seller's Market.
Key Takeaway
20901 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 20901, MD
How much do homes in 20901, MD cost?
Median Sold Price
$613,166
$324/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 20901 have sold for 11.5% more than they did a year ago.
Summary: The median home sold price in 20901 was $613,166 in May 2024, up 11.5% from last year, and the median price per square foot was $324.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $152K | $174.4K | +14.8% |
| 2 Bedrooms | $355K | $332.5K | -6.3% |
| 3 Bedrooms | $535K | $602.5K | +12.6% |
| 4 Bedrooms | $600K | $649K | +8.2% |
| 5+ Bedrooms | $625K | $695K | +11.2% |
Summary: 20901 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.8%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 12.6%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 11.2%.
Housing Supply in 20901, MD
How many homes are available in 20901, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 78 | 95 | +21.8% |
Summary: The 20901 real estate market had 95 homes for sale in May 2024, a 21.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 6 | +50.0% |
| 3 Bedrooms | 35 | 30 | -14.3% |
| 4 Bedrooms | 20 | 35 | +75.0% |
| 5+ Bedrooms | 18 | 23 | +27.8% |
Summary: The 20901 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 27.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 25 | +25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 20901, you could pay more than the asking price. 64% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in 20901 in May 2024, up by 25.0% month-over-month. Of the 25 sold homes, 12% were sold under asking, 24% were sold at asking, and 64% were sold over asking.
Days on Market for 20901, MD
How long does it take to sell a home in 20901, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 7 Days | 8 Days | +14.4% |
Summary: Homes in 20901 had an average of 8 days on market in May 2024, up by 14.4% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 20901 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 25 homes were sold in 20901; 96% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
