Is Columbia, 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, Columbia has remained a Seller's Market.
Key Takeaway
Columbia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Columbia, MD
How much do homes in Columbia, MD cost?
Median Sold Price
$468,561
$241/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Columbia have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in Columbia was $468,561 in May 2024, up 8.3% from last year, and the median price per square foot was $241.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $165K | $182.5K | +10.6% |
| 2 Bedrooms | $257.5K | $285K | +10.7% |
| 3 Bedrooms | $400K | $425K | +6.3% |
| 4 Bedrooms | $565.6K | $587.5K | +3.9% |
| 5+ Bedrooms | $727K | $752.5K | +3.5% |
Summary: Columbia housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.6%, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 3.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Columbia | $432.7K | $468.5K | +8.3% |
| Ilchester | $465K | $496.3K | +6.7% |
| Scaggsville | $525.4K | $559.9K | +6.6% |
| Ellicott City | $639.4K | $650K | +1.7% |
| Savage | $467.5K | $470K | 0.5% |
Housing Supply in Columbia, MD
How many homes are available in Columbia, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 215 | 246 | +14.4% |
Summary: The Columbia real estate market had 246 homes for sale in May 2024, a 14.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 10 | +233.3% |
| 2 Bedrooms | 32 | 40 | +25.0% |
| 3 Bedrooms | 86 | 80 | -7.0% |
| 4 Bedrooms | 63 | 76 | +20.6% |
| 5+ Bedrooms | 31 | 40 | +29.0% |
Summary: The Columbia housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 233.3%, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 7%, 4 bedroom homes increased by 20.6%, and 5+ bedroom homes increased by 29%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 80 | 65 | -18.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
50 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Columbia, you could pay more than the asking price. 76.9% of homes here sold above asking price last month.
Summary: A total of 65 homes were sold or pending in Columbia in May 2024, down by 18.8% month-over-month. Of the 65 sold homes, 11% were sold under asking, 12% were sold at asking, and 77% were sold over asking.
Days on Market for Columbia, MD
How long does it take to sell a home in Columbia, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 9 Days | 7 Days | -20.9% |
Summary: Homes in Columbia had an average of 7 days on market in May 2024, down by 20.9% compared to last year.
Breakdown of Home Sale Times
65 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Columbia are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 65 homes were sold in Columbia; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
