Is 21842, 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, 21842 was a Seller's Market.
Key Takeaway
21842 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 21842, MD
How much do homes in 21842, MD cost?
Median Sold Price
$439,475
$431/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 21842 have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in 21842 was $439,475 in May 2024, up 2.5% from last year, and the median price per square foot was $431.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $290K | $299K | +3.1% |
| 2 Bedrooms | $405K | $410K | +1.2% |
| 3 Bedrooms | $560.5K | $599.9K | +7.0% |
| 4 Bedrooms | $820.3K | $786K | -4.2% |
| 5+ Bedrooms | $833.7K | $1.2M | +48.1% |
Summary: 21842 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.1%, 2 bedroom homes increased by 1.2%, 3 bedroom homes increased by 7%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes increased by 48.1%.
Housing Supply in 21842, MD
How many homes are available in 21842, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 552 | 553 | 0.2% |
Summary: The 21842 real estate market had 553 homes for sale in May 2024, a 0.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 88 | 92 | +4.5% |
| 2 Bedrooms | 242 | 225 | -7.0% |
| 3 Bedrooms | 153 | 163 | +6.5% |
| 4 Bedrooms | 44 | 49 | +11.4% |
| 5+ Bedrooms | 25 | 24 | -4.0% |
Summary: The 21842 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.5%, 2 bedroom homes decreased by 7%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes decreased by 4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 101 | 88 | -12.9% |
Asking Price vs. Sold Price
56 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 21842, you may be able to get a good deal. 63.6% of homes here sold below asking price last month.
Summary: A total of 88 homes were sold or pending in 21842 in May 2024, down by 12.9% month-over-month. Of the 88 sold homes, 64% were sold under asking, 25% were sold at asking, and 11% were sold over asking.
Days on Market for 21842, MD
How long does it take to sell a home in 21842, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 27 Days | 45 Days | +66.8% |
Summary: Homes in 21842 had an average of 45 days on market in May 2024, up by 66.8% compared to last year.
Breakdown of Home Sale Times
51 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 21842 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 88 homes were sold in 21842; 58% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
