Is Laurel, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Laurel has remained a Seller's Market.
Key Takeaway
Laurel is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Laurel, MD
How much do homes in Laurel, MD cost?
Median Sold Price
$455,000
$241/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Laurel have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in Laurel was $455,000 in April 2024, up 6.3% from last year, and the median price per square foot was $241.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $198K | $195K | -1.5% |
| 2 Bedrooms | $281K | $285K | +1.4% |
| 3 Bedrooms | $429.9K | $435K | +1.2% |
| 4 Bedrooms | $537.4K | $564.4K | +5.0% |
| 5+ Bedrooms | $612.5K | $657K | +7.3% |
Summary: Laurel housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.5%, 2 bedroom homes increased by 1.4%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 7.3%.
Housing Supply in Laurel, MD
How many homes are available in Laurel, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 216 | 240 | +11.1% |
Summary: The Laurel real estate market had 240 homes for sale in April 2024, a 11.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 9 | -30.8% |
| 2 Bedrooms | 39 | 37 | -5.1% |
| 3 Bedrooms | 81 | 102 | +25.9% |
| 4 Bedrooms | 58 | 66 | +13.8% |
| 5+ Bedrooms | 25 | 26 | +4.0% |
Summary: The Laurel housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 30.8%, 2 bedroom homes decreased by 5.1%, 3 bedroom homes increased by 25.9%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 4%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 70 | 61 | -12.9% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
34 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Laurel, you could pay more than the asking price. 55.7% of homes here sold above asking price last month.
Summary: A total of 61 homes were sold or pending in Laurel in April 2024, down by 12.9% month-over-month. Of the 61 sold homes, 20% were sold under asking, 25% were sold at asking, and 56% were sold over asking.
Days on Market for Laurel, MD
How long does it take to sell a home in Laurel, MD?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 16 Days | 14 Days | -13.9% |
Summary: Homes in Laurel had an average of 14 days on market in Apr 2024, down by 13.9% compared to last year.
Breakdown of Home Sale Times
56 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Laurel are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 61 homes were sold in Laurel; 92% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
