Is Morrell Park, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Morrell Park was a Seller's Market.
Key Takeaway
Morrell Park 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 Morrell Park, MD
How much do homes in Morrell Park, MD cost?
Median Sold Price
$145,000
$79/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Morrell Park have sold for 12.2% more than they did a month ago.
Summary: The median home sold price in Morrell Park was $145,000 in May 2024, up 12.2% from last month, and the median price per square foot was $79.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $112K | - | N/A |
| 3 Bedrooms | $130.5K | $75K | -42.5% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | $215K | N/A |
Summary: Morrell Park housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 42.5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Lakeland | $140K | $160K | +14.3% |
| Morrell Park | $129.2K | $145K | +12.2% |
Housing Supply in Morrell Park, MD
How many homes are available in Morrell Park, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 14 | -26.3% |
Summary: The Morrell Park real estate market had 14 homes for sale in May 2024, a 26.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 11 | 6 | -45.5% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Morrell Park 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 decreased by 25%, 3 bedroom homes decreased by 45.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 2 | -75.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morrell Park, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Morrell Park in May 2024, down by 75.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Morrell Park, MD
How long does it take to sell a home in Morrell Park, MD?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 36 Days | 24 Days | -34.0% |
Summary: Homes in Morrell Park had an average of 24 days on market in May 2024, down by 34% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Morrell Park are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Morrell Park; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
