Is Oakland, 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, Oakland was a Seller's Market.
Key Takeaway
Oakland is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Oakland, MD
How much do homes in Oakland, MD cost?
Median Sold Price
$325,000
$259/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Oakland have sold for 16.1% less than they did a month ago.
Summary: The median home sold price in Oakland was $325,000 in April 2024, down 16.1% from last month, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $299.9K | - | N/A |
| 2 Bedrooms | $243K | $210K | -13.6% |
| 3 Bedrooms | $437.5K | $432.5K | -1.1% |
| 4 Bedrooms | $252.5K | $223.5K | -11.5% |
| 5+ Bedrooms | $987.5K | $1.0M | +8.5% |
Summary: Oakland housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 13.6%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes decreased by 11.5%, and 5+ bedroom homes increased by 8.5%.
Housing Supply in Oakland, MD
How many homes are available in Oakland, MD?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 83 | 88 | +6.0% |
Summary: The Oakland real estate market had 88 homes for sale in April 2024, a 6.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 5 | -16.7% |
| 2 Bedrooms | 13 | 13 | 0.0% |
| 3 Bedrooms | 27 | 30 | +11.1% |
| 4 Bedrooms | 15 | 16 | +6.7% |
| 5+ Bedrooms | 22 | 24 | +9.1% |
Summary: The Oakland housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes remained the same, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 7 | -56.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Oakland, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Oakland in April 2024, down by 56.3% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for Oakland, MD
How long does it take to sell a home in Oakland, MD?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 84 Days | 15 Days | -81.7% |
Summary: Homes in Oakland had an average of 15 days on market in Apr 2024, down by 81.7% compared to last month.
Breakdown of Home Sale Times
6 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 Oakland are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in Oakland; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
